Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Celente also discussed the difference between the current cycle and the 1970s. Here is what Celente had to say: “A lot of people are saying that, ‘The Gold bubble has burst,’ and I’m not one that believes that.  I’m a trends forecaster and my forecast is gold will continue to rise.  It may go down short-term, but long-term I’m bullish. And I don’t speculate in gold, I buy gold.”

With continued uncertainty in markets around the world, today Ben Davies, CEO of Hinde Capital wrote the following piece exclusively for King World News. Davies believes the gold and silver liquidation is over: “I humbly believe the seller is done. For one week there has been several but mainly one entity selling Comex gold futures, as well as some physical to liquidate on the open and closes. This suggest to us it was a CTA commodity type fund. They use volume areas of the day to transact.”

Today billionaire Eric Sprott told King World News that governments are desperately trying to avoid a “Liquidation Event.” Sprott, who is Chairman of Sprott Asset Management, also warned the the market is liquidating, “irrespective of whether the powers that be want it or not.” Here is what Sprott had to say about the unfolding crisis: “Something has to be done because it’s totally out of control these days. I mean you can’t have bank runs (like we’re seeing). The one thing the powers that be, the central banks and the governments, have tried to do is to avoid what I call a ‘Liquidation Event.’”

With fears building concerning another ‘08 credit meltdown, today King World News interviewed the #1 oil analyst in the world, Mike Rothman, to get his take on what is happening. Rothman is the Founder of Cornerstone Analytics and he has been rated #1 for Independent Energy Research by Institutional Magazine since 2006. Rothman consults directly with governments and has attended every OPEC Meeting since 1986. Here is what Rothman had to say about the current situation: “Essentially, with all of the concerns about the world either falling into recession or being in a recession, you still have Brent oil at triple digit levels. That’s a testimony that oil balances are actually quite tight. There’s a problem getting supply.”

With tremendous volatility in global stock markets, and gold on the move, today King World News interviewed Peter Schiff, CEO of Europacific Capital, to get his thoughts on what lies ahead. Schiff discussed stocks, gold and what central planners are up to, but first, here is what Schiff had to say about what is happening in key markets: “Well, we keep getting more weak economic data, which is validating my perspective that we never really had a recovery at all. We simply juiced the economy up on stimulus, and as the stimulus high wears off, the hangover sets in.”

Today Citibank analyst, Tom Fitzpatrick, told King World News that despite the recent pullback, gold is headed to new all-time highs. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, also said that stock markets will continue to head lower in the coming weeks. But first, here is what Fitzpatrick had to say about the volatility index: “We’ve broken above that resistance level at 21% on the VIX, completing what is a very clear inverted head and shoulders within the daily chart. That suggests we could easily get a move that could take us up to something in the region of 27% to 28% (on the VIX).”

With continued turmoil in global equity markets, gold trading near $1,540 and silver around $27, today King World News interviewed legendary technical analyst, Louise Yamada, of LYA Advisors, to see where she sees stocks, gold, silver, oil and the US dollar headed. Yamada’s service had been correctly bearish stocks at the top. When asked how she knew global markets would take a hit, Louise replied: “Well, first of all, this has been a very slow erosion over a period of one year. We got the long-term ‘sell’ signals on these markets in the spring of 2011. We then had the steep decline in 2011. After the big move off the lows, demand suggested we did not have what it took to take the markets higher, and then we began to see distribution.”

With continued volatility in gold and silver, today King World News interviewed 25 year veteran Caesar Bryan.  Gabelli & Company has over $31 billion under management and Caesar Bryan has managed the gold fund since its inception in 1994.  Caesar addressed the mining shares, but first, here is what Caesar had to say about what is happening with gold: “You know we’ve seen these type of corrections in this gold bull market before, Eric. This reminds me a little bit of 2008, in the sense that there was this selling of quality assets across the board, in an effort to raise dollars.”

Today Rick Santelli told King World News that traders and hedge funds are making it costly for JP Morgan to exit their $2 billion+ losing position. Santelli also said JP Morgan is “going to be at risk in that regard for many months.” Here is what Santelli had to say about the situation:  “You know, Eric, I think we want to get to the bottom of anything with regards to JP Morgan for one reason, JP Morgan’s position really is about a hedge. This raises issues as to whether this hedge was used to speculate more than hedge.”

With continued volatility in global markets, today Michael Pento, of Pento Portfolio Strategies, writes for King World News to discuss what is happening in key markets and what central planners are up to. Here is what Pento had this to say about the situation: “The gold stocks, as evidenced by the XAU and the HUI, are now pricing in a significant decline in gold, taking the metal down to where it was in the middle of the last decade, before QE3 or LTRO’s were even part of the global investor’s lexicon.”

With major markets around the world continuing to get hit, today King World News interviewed James Turk out of Europe.  Turk told KWN the situation in Europe is deteriorating and the banking system is being severely tested. Turk also discussed gold and silver, but first, here is what Turk had to say about the crisis in Europe:  “The situation here in Europe is rapidly deteriorating, Eric. Moody's downgrade of 26 Italian banks was just the latest nail in the coffin. It seems likely that more bank downgrades are coming in other countries because Europe is in a downward spiral.”

With continued volatility in global markets, today King World News wanted to speak with the firm that is calling for $10,000 gold. Paul Brodsky, who co-founded QB Asset Management Company, had this to say about what is happening and what to expect going forward: “Banks are trying to find all sorts of levered sources of revenues and they are taking more and more risk. The natural pressure is for bank loan books to contract. That’s what they are fighting and that’s what central banks have to fight.”

With continued volatility in many of the key global markets, 40 year veteran, Robert Fitzwilson wrote this exclusive piece for King World News.  Fitzwilson is founder of The Portola Group, one of the premier boutique firms in the United States. Here are Fitzwilson’s observations: “We know that the world’s debt-based, fiat money system can only be revived and sustained by the combination of more debt creation and consumption. We have arrived at a critical point in history.”

With a sea of red across virtually all markets, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that global financial markets are in an extraordinarily unstable situation. Leeb also said investors should expect to see more “tumutuous events” ahead. But first, here is what Leeb had to say about the derivatives crisis the world faces today: “When you start talking about quadrillions (of dollars), you are talking about numbers that are 1,000 times larger than $1 trillion. GDP is measured in trillions, and when you start talking quadrillions, you are talking about numbers that dwarf worldwide GDP.”

With global stock markets tumbling, along with gold and silver, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management.  Embry discussed gold and other major markets, but first, here is what Embry had to say regarding recent derivatives turmoil:  “This makes me very uncomfortable because I’ve always been very wary of the whole derivative situation. I believe the notional value of the outstanding derivatives is comfortably north of one quadrillion dollars. The Bank of International Settlements changed the definition, so they said there is only $700 trillion worth of them, rather than one quadrillion.”

With continued volatility in global markets, the Godfather of newsletter writers, Richard Russell, warned his readers to “be out of all stocks.” Here is what Russell had to say: “Between the years 2007 and 2009, we experienced the first part of a vicious bear market. The violence and rapidity of the losses in that bear market were shocking to most people. In fact, I'd say that the retail public was so shocked and wounded by the 2007 to 2009 bear market that they have stayed out of the stock market ever since.”

Today Michael Pento told KWN why “this summer is going to be disastrous for equity prices.” Pento, of Pento Portfolio Strategies, also stated he believes JP Morgan, the Fed and gold are headed for a major showdown. But first, when asked about the JP Morgan debacle, Pento responded, “I blame the Fed, like I do for much of the world’s ailments.  The Fed buys a bond from JP Morgan, yielding say 2% on the  10-Year, and then they expect the bank, JP Morgan, to accept 25 basis points from the Federal Reserve.  Now, they have to beat earnings by a penny, so what do they do?”

Today King World News interviewed one of the wealthiest and most street-smart pros in the business, Rick Rule. Rule, told KWN there is a “mismatch of some amount of money in the $100 billion range between credit default swaps.” He also said this is similar to what “brought down Long Term Capital Management (LTCM).” Rule, who is now part of Sprott Asset Management, also discussed gold and the mining shares, but first, here is what he had to say about what is taking place: “Well, I think that frames a big issue. We’ve been asking our clients to consider the macro question, if the institutional risk-off trade is to the US dollar and US Treasuries, that suggests the institutional investors believe that this rally and recovery in the United States is real. That’s big news if it’s true.”

With so much fear and uncertainty in markets around the world, today King World News reached out to Ben Davies, CEO of Hinde Capital. Davies told KWN that “Bank capital is scarce” and “the ECB will react with a 3rd LTRO as their is no alternative for them.” He also said, “the FED will power up the US dollar Swap lines.” Davies also discussed gold, but first, here is what he had to say about what is happening in Europe: “I would note we are in a deflationary spell.  The European default process, I outlined over last few years, is about to become disorderly. The Greek risk escalates the disorderly default risk for others in the periphery. The ECB and IMF stand to lose most on the Greek default, hence the 5.2 billion euro disbursement, paid on 10th May.”

With global investors concerned about key markets, today King World News interviewed legendary Jim Sinclair’s colleague and fellow trader, Dan Norcini.  Norcini told KWN that a decisive break below the 1.8% level on the US Ten-Year Note would signal that a tsunami of deflation could engulf the globe. Norcini said this could trigger “a collapse in tax revenue” and budget deficits would “blow out of control.” Here is how Norcini described the precarious situation:  “If we see the yield on the US 10-Year Note break below the 1.8% level, what it’s to signal to bond traders around the world is that we have a deflationary wave coming. I think the reason the 1.8% level has been a floor so far is because most traders are convinced the Bernanke-led Fed will not allow deflation to occur.”