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and outspoken trends analyst and expert Jay rolled Celente says investors can no longer ignore the biggest trend out there Bitcoin but is it headed to ten thousand fifty thousand as some are suggested or is it the biggest bubble ever general good to see you again thanks so much for joining us thank you so obviously are becoming more and more of a digital society here as you point out so does that mean it's inevitable our currency is also heading that way is Bitcoin the currency of the future it's it's all the crypto currencies maybe Bitcoin or whatever else would be all the other ones coming on you see what's going on Danielle is that people have lost faith in the fiat currencies you had Jamie Dimon of course you know from JPMorgan Chase calling Bitcoin one of the biggest frauds well you know how about those six banks that were major banks that were convicted of fraud so I guess frauds Noah fraud but it's not that at all what it is is that they're afraid that bitcoin is going to take away their business and they're trying to kill it right there's no two questions and two ways about it it was very important to look at is what's going on in China China has just put on restrictions so by the end of this month it's going to be very difficult for people to deal with Bitcoin why because the yuan has been growing very rapidly and when the yuan was declining over a year ago very rapidly it was the Chinese that drove up the price of Bitcoin because they're da yuan was being devalued here's the point that I'm making you look at Chinese exports they're way down there's fear the S&P just downgraded their credit rating last week you're gonna see a devaluation of the yuan so they could they could increase exports and now the people won't have Bitcoin to go into so on a whole nother level where are they going to go they may go into gold and on the broader level it's the same thing in every nation they're all going so many are going cashless as India did right and so what people have lost there there's no in god we trust' to hold up anymore there's nothing to attach yourself to and people realize the Fiat money scam so we see Bitcoin having a long future all right other cryptocurrency yeah and on that topic Gerald you know many would argue that Bitcoin has stolen a lot of thunder from gold and that's why we're not seeing gold rallying more here it's very true again you know people are as sophisticated coin and again it's a digital world you me go to China I mean it's your smartphone app man and you're paying for everything so that's very simple like that so where are people going to put their money as their currency is being devalued and it goes back to the gold standard and and that's why we believe that while Bitcoin and crypto currencies are going to have a place in the future as we say it still the bottom line is gold is the tangible that nothing replaces at this time and what do you think in terms of forecast for Bitcoin you know I've never seen anything polarize investors so much so you know some either love it or either love to hate it some are calling for $40,000 Bitcoin while others are expecting it to fizzle away saying it's the biggest bubble ever so where does Gerald stand on the spectrum we don't believe it's going to go away we don't know the price but the price shot up too quickly as we see it you know again it people forget it really grew when the yuan was declining and now it's only about 15% of Chinese and it's very important to the banksters are going to continue to talk it down because it makes banking obsolete and the banksters obsolete so they're going to do everything they can to stop it and when you and again you listen to the words of Jamie Dimon any eggs that its central banks that give fiat currencies excuse me that give you fiat currencies their standard central bank's a bunch of private banks you know what what current would that what currency is that so there's going to continue to be a fight between the banksters and by the way what bitcoin also represents is the populist movements that are springing up throughout the world people don't want to be attached to crooked governments and central banks all right let's rock with your forecast for gold now no you're obviously a big advocate of the yellow metal where's it headed for you right now well again it's our same forecast Danijela we've been saying now for about two years gold has to break strongly above fourteen hundred for it to gain more strength and when it does and I'm talking fourteen sixty 1480 1450 fourteen seventy we see it's skyrocketing to two thousand but it has to break above that point and again of course there's now there's concern about rising interest rates but interest rates really aren't rising that much when you put in for inflation over the last ten years and how few times they raised interest rates it's still near zero when you really put it into it so it's not going to have that much an effect on it and again it also weighs on the dollar so and the dollar again is is losing strength what is it down about 7% this year oh and by the way the u wands up over six percent so just to show you what's going on so we don't see strength in the dollar and so we see a positive future for gold so last question you say positive future for gold where your hopes dashed oak because you know we saw gold finally make it through thirteen hundred mark to only come back down last week so what's the hope they're looking for 1,400 now well again you know it's going to take time and and by the way also important but we don't believe when there's a geopolitical crisis and people jump into it that that's sustainable unless of course it's war you know and then you know to kiss your gold goodbye anyway but so again short term we're in the range that we are now and when panic breaks out again because of the bubbles that are going to burst whether it's in China with their debt to GDP ratio at 300 or the central bank's trying to figure out how to unwind this 16 trillion dollars worth of debt just insuk central banks that they have to unwind you're going to start seeing a lot of problems arise so when those kind of problems start really sparking up again that's when we see gold moving up right now we see it in the range that it is
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