It turns out that he got taken in the MF Global bankruptcy.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/11/17_Gerald_Celente_-_MF_Global...What_about_Gold_ETF_GLD_%26_HSBC.html

Gerald Celente, Founder of Trends Research and the man many consider to be the top trends forecaster in the world, had some of his money in MF Global when the firm imploded. He is, understandably, not happy about it. KWN readers may not realize this but Celente would use a futures account to take physical delivery of gold and he was about to take delivery of gold on December contracts, “One of my methods of buying (gold) is to buy futures contracts. I buy futures, build up enough money in the account and then take delivery on the gold. I had enough money in my accounts to take delivery in December, which is what I kept telling the broker over and over, that I was taking delivery in December.”

“And I get this call that I have a margin call and I said, ‘What, are you out of your mind? I have enough money to take possession.’ (A voice on the other end of the line said) ‘Well you don’t anymore, they’ve decided to put the money with a Trustee.’ They closed out a couple of my positions because I refused to send more money.

Here is another good article on it.

http://www.zerohedge.com/news/entire-system-has-been-utterly-destroyed-mf-global-collapse-presenting-first-mf-global-casualty