Magnitude of Correction Will Eclipse Them All-Gregory Mannarino
By Greg Hunter’s USAWatchdog.com
Trader/analyst Gregory Mannarino says what is going on in the stock market is way worse than a so-called “correction.” Mannarino explains, “We are definitely going lower. Everything I look at, and there is a lot of material, is pointing lower. This is just the beginning. If we continue on the current trajectory, we are going to see a sell-off in this market that is going to spin people’s heads around. In my opinion, the party is over. There is going to be a terrible price to pay for financial misdeeds and irresponsibility by the Federal Reserve. . . . All they created is asset bubbles all over the place and inverse bubbles, meaning suppressed assets. This is going to correct to fair market value. It is a mathematical certainty, and there is no way out.”
On billionaire investor Carl Icahn’s recent warning of “danger ahead’ for the economy, Mannarino says, “There is a lot ridding under the surface of all of this. Look, there’s no secret that the Federal Reserve has created a party atmosphere for market participants. Why someone like Carl Icahn has not come out until now . . . Here’s what’s going on. He’s a capitalist. He’s trying to make the market situation work for him, and that’s what he’s been doing up until now. That’s what traders do. They try to capitalize on the market that they have. You trade the market in front of you, not the market you want, but the one that is in front of you. The reason why he’s coming out now is he’s starting to see red flags all over the place, and he might be trying to cover his own rear end. He will say, hey look, I tried to warn you. Just like Janet Yellen did recently. Just like Alan Greenspan did recently, and as did Robert Shiller. Something is going to occur, and the writing has been on the walls for years. . . . These Federal Reserve distortions and their magnitude is hard to imagine. You can see how bad this is going to correct at some point in time. I think we are beginning to see this now. . . . Everything that Carl Icahn said about where this is going is absolutely true.”
For a sign that we are getting close to the end, look no further than allegations of market rigging in all the markets. The latest rigging scandal is in the precious metals markets in Europe. Mannarino contends, “Has anyone ever wondered why all these companies are involved in massive stock buyback programs? What are they trying to do? This is financial engineering to make themselves look good and to try to keep this market propped up. All of this and all of this fraud, everything is going to come to light and what are we going to get? The one thing I have been saying for year is we are going to get a correction– a correction of these distortions. Correction sounds like a small thing, but the magnitude is going to be unbelievable because we have seven years of distortions by the runaway central bank.”
On the Federal Reserve not raising interest rates in September, Mannarino says, “They should be embarrassed here. They could not raise the Federal Funds rate 25 basis points, or .25%. That was the biggest no confidence vote I have ever heard out of Janet Yellen’s mouth with regards to the U.S. economy and the global economy. I even said it the last time I was on your show. I said whatever the Fed was going to do was going to melt down this market, and that is exactly what happened. I said more than likely they could not raise rates unless they want to burst this bubble here, and we are already seeing it, and we are going to see it accelerate if the Federal Reserve raises rates sometime this year. Then what’s going to happen? Goldman Sachs, Morgan Stanley, JPMorgan, Carl Icahn and myself are going to short this market. This is a set up and what I have been trying to warn people about. You got the mainstream media saying buy the dips. We’ve lost more than 2,000 points since the top, and they have been getting murdered all the way down. Why? This is the biggest scam in the history of the world. They are trying to keep the market liquid. The mainstream financial channels need to keep the little guy in this market so everyone can get themselves in the right position. So, when it tanks, the wealth transfer happens. All the cash the little guy has put into this market is siphoned off legally. This is going to be the greatest theft in the history of the world, and it has been purposely set up by the Federal Reserve. This crash will eclipse them all.”
Join Greg Hunter as he goes One-on-One with Gregory Mannarino of TradersChoice.net.
(There is much more in the video interview.)
After the Interview:
Mannarino’s latest trade involved shorting Apple stock. In just three hours on Tuesday, Mannarino says he made 16% in just three hours when Apple stock fell. Mannarino warns that shorting stocks is dangerous for investors and should only be done by seasoned professionals. Mannarino says the best way to protect yourself from a falling stock market is to “sell and get out of the market.” Mannarino thinks everyone should be their “own central bank and buy physical gold and silver.” Mannarino offers his advice and stock trading picks for free on TradersChoice.net.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Thanks for the opportunity Greg!
We are now living in an environment of extremes with regard to asset prices, and the one thing which the Federal Reserve has been successful in pulling off with now 7 years of ZIRP monetary policy is this: massive asset bubbles to an extreme.
The Federal Reserve has now managed to distort and magnify the sole reason why markets exist, and that is to simply determine fair value for assets. Make no mistake about it, the monetary policy irresponsibility by the Federal Reserve has guaranteed that the world is going to be facing a second Great Depression, much worse than the last one.
Some may argue that the Federal Reserve, by instituting now 7 years of ZIRP monetary policy, prevented a second great depression after the ’08 crash, but in reality all they have done is just “pushed it off.”
Moreover, by not allowing free market forces to determine fair value, the Federal Reserve has guaranteed a global depression unlike anything anyone could imagine. What most people fail to realize is the ’08 crash was also created by the Federal Reserve, who again via loose monetary policy inflated the housing/credit bubble which melted down the global economy-but this time it is monumentally worse.
The fact is there is no possible way to prevent this global depression from occurring. As I have been saying for years now, all these central bank created distortions will balance out, (this is a mathematical certainty), and we are just starting to see that play out now with the Dow Jones Industrial Average now down over 2,300 points since I called the top almost to the day this past May.
No action by the Federal Reserve or any central bank can stop the cascade of events which have already started from playing out. The world is moving directly into a depression which is going to make “The Great Depression” seem good by comparison.
Thank you Gregory for extending information in your post!!
Greg
Greg: A Great guest always! I have mentioned this several times here, but worth repeating. Pastor Lindsey Williams was told by his elite oil CEO retired in 2009 that- ” In the last crash of 2008 the elite’s basically stole $2 trillion – they controlled the crash- they got out and went short knowing the markets would collapse. As you say all the markets are rigged. Lindsey was then told his-
That the elite’s(banksters) would slowly bring the stock market back up and because of their low interest rates scam they would force people back into the stock market- to get any return on their money. The plan told to him then(2009) was to sucker the average person back into the market so the elite’s could crash it one “last” time. This is a planned event- planned long ago to steal the little guys money.”
Greg M. says it’s soon, he is correct- could be any day- anywhere the spark could be set off. People – get out now- get out of paper assets, get out of their fraudulent system( get out of banks as much as possible) Strive to hold your capital near to you. Banks are not safe- banksters are part of the cabal!!!!
al
AL
I can confirm what Lindsay Williams was saying through one of my sources as well. Two Trillion dollars of Tarp money was moved to the Bank of England to be used by the Banks following the reset. I know people have short memories, but this was exactly what professor Black had confirmed through his investigation several years ago as well. But Banks control the courts so there will be no investigation from our government.
AL
For those that want to go down the Banking Rabbit hole and find the truth, they can find the complete story from a piece Frontline did back in 2009. It pretty much lays it out.
https://youtu.be/ACkiKVtF3nU
Please put Martin Armstrong back on . He is not predicting a crash like all the other guests here. Lets get some balance.
Michael
How about this for balance?
http://www.nytimes.com/2015/09/30/business/dealbook/imf-cautions-on-concentrated-positions-in-us-mutual-funds.html?_r=0
Jerry this is the IMF predicting possible collapse. Am I right? That is what I think I read. If so troubled times must be near. Thank you for posting this.
JC
That’s my impression.
greg, and greg;
My brother’s buddy, aka ‘WHEELS’, is a tug/barge captain who pushes oil tankers into port. He fly’s to Louisiana for a month or 2 then returns home for 2 wks. He said their company is laying off a lot of captains but he is high on the seniority list and may retain his job. Mind you, he fly’s to S. America as well at times. So, he said their company has 52 tug/barges lying idol in port with no work.
Jim Willie CB
8:15 PM (5 hours ago)
to me
GOTCHA
with new Iran supply coming into the market soon,
gonna get worse
Bill Holter
8:22 PM (4 hours ago)
to me
Wow!
Marty takes every side.
Now he seems to be suggesting a market correction as of 10/01/ [today].
He writes “So while cash is now KING, stocks remain vulnerable and commodities have no bid sufficient to change the trend, it appears we are headed into the wonderland of our political-economy.”
http://www.armstrongeconomics.com/archives/date/2015/09
Gregory, I have told my friends and family since 2010, that the world has experienced The Great Depression, but we are now heading towards The Greatest Depression.
People in their 80’s today, like my parents know exactly what it was like back then when they were young and the hardship they endured as they were growing up and yet they are the only Generation who will listen when I say we are heading towards hard times and will advice me what they did to survive.
But now, it will be our turn to experience the hardship in our older years, something that a lot of people haven’t thought about and needless to say, will survive………..why are people so blind?
My parents also went through the Great Depression, and both families almost went homeless due to lack of income. Both families only survived because of partial starvation diets (tomato / potato sandwiches for lunch), because they owned their farms with no mortgage, and because they had a garden that they raised and canned most of their food from. Nowadays people don’t have gardens, except for flower gardens, and don’t even know how to “can” food if they did have one! This will be the Greatest Depression, as Mannerino says.
Hello from another Reiver descendant, Ms Eliot!
Yes…People need to do repairs to home and car now, pay down debt now, clean house for possible “guests” in their circle, learn to cook, let alone can…Americans did it before, we can do it again. And most important…pray with faith, not fear.
I see a lot of hope in the young forming communities among themselves. They have rejected the cave like privacy mania of the last 65 years. They call each other, feed each others’ pets, go for walks. The money they seem to waste eating out is really trying to socialize and live outside their personal space. Those relationships may be their best help in the world.
Greg M
I find it absolutely astonishing that on the very eve of this looming financial crash that no commentators, including yourself are talking about the farcical private ownership model of the FED and the fact that their disgraceful conduct actually guarantees the bankruptcy of much of the modern world.
Same old, same old with Naomi in the preceding interview. Ummmm……..does my memory serve me correctly or was she not MD for Goldman-Sachs and Bear Stearns once upon a time…..in the west….I mean the east! OK then, yes….. probably it would be a tad bit awkward for her to tackle this topic. I will just leave her in the category of ‘once a banker’ and remember to be extremely careful about taking any advice whatsoever from her.
To me it is very tedious to think that few, with the exception of Ron Paul and his son Rand and a tiny group of others including Alan Grayson, have the guts to confront and discuss this fact. Instead you all bleat on constantly about the FED does this, the FED does that, and never ever dare to mention why they do it….
FOR CRYING OUT LOUD….THEY DO IT BECAUSE THEY ARE OWNED BY A FRICKEN PRIVATE BANKING CARTEL.
The FED’S real charter remains the same and has done so since 1914…. It goes like this;
LIE ABOUT EVERYTHING, MISINFORM MAINSTREET, THIEVE FROM THE MIDDLE CLASS AND THE POOR…. LINE ITS OWN POCKETS….THE VERY POCKETS OF THEIR ELITE OWNERS, CRONIES AND ACCOMPLICES
The only difference now 101 years after the formation of this completely illegal and unconstitutional model is that the thieving has gradually become much easier because more and more weapons have been added to their arsenal. For the sake of brevity I will quickly summarise what I believe to be the key events that have made it absolute child’s play for them to ply their evil agenda.
> The Breton Woods Treaty and the rise of the US dollar after WW2 to become the reserve currency of the world
> The demise of the gold standard in 1971 and the subsequent move into Fiat currencies
> The demise of the Glass-Steagall act that limited commercial bank securities activities
> The almost complete deregulation of the financial sector, much of which happened under the Clinton ‘stewardship’ and the evolution of derivatives and what I call the ‘casino culture’ of all markets
In short I find this omission by the ‘informed’ to be utterly obscene and irresponsible and I hold that those of you who have not spoken out to be actually part and parcel of this very problem. If you are well educated and informed financially, you need to ask yourselves – why have you not challenged this institution and joined in think tanks and intellectual discussion in order to identify and promote workable and sensible alternative models?
Greg Hunter recently described Trumpet as “the least of the evils” in the current GOP race. Much like Greg the remainder of WD and it’s commenters seem to pretend that Rand Paul doesn’t even exist. This is appalling given that this man is the only candidate who has the guts to challenge the very existence of the FED and the warmongering agenda of Washington. Apparently the thinking amongst many of you is that because Paul challenges the establishment he has no chance of being elected, therefore don’t bother to mention that he even took part in the recent debate, let alone that he could be a contender.
Even Paul Craig Roberts recently condemned all GOP candidates as “standing for war”…. see link;
http://www.paulcraigroberts.org/2015/09/20/republican-presidential-candidates-stand-war-paul-craig-roberts/
My God has PCR even heard of Rand Paul?
Once again as outspoken as he is on all of Washington’s chaotic politics and warmongering hegemony, I have never once heard him challenge or even discuss the disastrous ownership model of the FED. To me the narrative is extremely tiresome. It is always the same….utterly predictable and naïve in its omission of addressing why the FED acts as it does.
America, in ignoring the FED model and the people that are brave enough to challenge its existence, you are in effect sleepwalking headlong into WW3!
Col
Col, I agree with what you say, but you and me, along with the rest of the people, who at the moment are comfort with their life’s, will only vent their anger on the website like this one, just to make us feel good about voicing our opinion on the corruption around us, without getting our hands dirty.
Rand Paul, if he was elected will tow the line for the Fed or he will end up like JFK……………Real change will only come when a Citizen’s uprising occurs against the Establishment.
Gerald Celente, is doing just that with a movement called ‘Occupy Peace’ how he is going with it? only time will tell, but going by the attendance on opening day a fortnight ago, it’s going to be a hard slog for him.
Until we are prepared to get our hands dirty, get used to same old narrative or don’t watch anymore websites………………with you being a Kiwi, I bet you would stand along side an Aussie, to fight off any enemy like our ANZAC legends did.
FC
Firstly I am absolutely not comfortable with my life and “vent my anger” in many different venues!
I genuinely believe that humanity’s very survival is now more precarious than in any period in history. With the disgraceful quality of leadership and the irresponsible diplomatic behaviour of so many western countries I am very fearful for the future of my children and grandchildren.
As for “getting my hands dirty” I feel I give this a pretty good shot.
I spend an enormous amount of time studying global geopolitics and finance and use social media to try to spread a message based on what I have learnt. My learning is not tainted by institutionalism nor is it affected by partisan or religious agendas.
Constantly I am told by friends, family and acquaintances “give up Col…don’t concern yourself with the big picture….just try to enjoy the rest of your life……there is nothing you can do as an individual…the problem is too big….”
Too this I say….”what complete gutless defeatist bollacks”.
Mainstreet has been provided with a game changing weapon in its fight against the financial elite and the erosion of democratic process. This resource is the internet and it empowers everyone that has access to it and provides them with unlimited learning and networking capabilities. This network, if we care to use it effectively, has the power to negate the elite’s huge disinformational advantage that they have always held with their ownership and control of the narrative of the MSM.
Cheers
Col
.
Colin,
There’s not much one can say… you are about spot-on in almost all your points. I bet you can about fix anything on the farm. You’d have made a great doctor.
America is broken, and won’t be fixed. Spiritually, the tide has turned; and Apostasy is upon it and the world. The spiritual wickedness in high places, teamed with the great majority of unwashed heathen – will not diminish or be over-thrown. Bible prophesy is transpiring before our eyes.
Like Jesus Christ did not come to throw the political and military yoke from off Israel: but fulfill Scripture and provide Eternal Salvation to the “few there be that find it.” So will the nations of this world blindly march into darkness; thinking themselves to be wise ( but became fools). Fighting this increasing evil will be like swimming against the tide.
At risk of being thought a ‘defeatist’ – I must assert that the limited energies anyone has, would be best spent in serving the Lord, preparing oneself, and generally helping others to face the future. The Western World, which did the most to spread the Truth – will be the instrument to deliver the world into the hands of evil. In other words – I believe we’ve crossed the Rubicon, and politics are now a waste of time. I wish it were otherwise. Spiritual matters have ALWAYS been what mattered. Now, they are about all that matters which is left to us. Even Jesus Christ was about His Father’s business; not distracted by the world. CH
An excellent post by Colin,i sense his utter frustration,farmers are” fix it” kind of blokes.see a problem? Deal with it and move on.
Unfortunately Col the problem is way to big and those in power have an agenda.
Honourable men like yourself will have no influence no matter how much you jump up and down. Charles H gave an exceptional reply to your post,I know your views are very different to those who trust in God,and I respect your views.
However in light of the ineptness that you see,across all spheres,be it political,financial, social etc a second read of Charles’s reply might be warranted.
Cheers mate.
Hi AJ
With all due respect to you I will continue to jump up and down.
If people in the Weimar republic had “jumped up and down” a bit more there is a chance that the holocaust and WW2 could have been avoided.
I will never give any credence whatsoever to not speaking out and leaving it in the hands of God. As I have stated before on WD…. was God or anyone else any help to the Jews queueing naked and in misery outside the Nazi gas chambers?
This attitude of quietly “serving the Lord and preparing oneself” for the slaughter, to me is utterly pathetic and sheeplike. This is precisely what TPTB would have us do as they continue to rape and pillage the globe. The embrace of what I call religious defeatism is in effect a very powerful ally that is opportunistically used by the elite as they ply their evil trade.
I am too old and way too grumpy to believe in a fairy story end to all of this. We will have to agree to differ on this one. And by the way I don’t for one minute believe “that our energies are limited”. On the contrary I hold that the energy of mainstreet when combined is infinite and that it will eventually dismember the elite and restore, at the very least, a semblance of democracy to the world.
Cheers and best regards to you across the ditch.
Col
By the way…. Best of luck against the Poms tomorrow morning.
Colin,
You are not the only old and grumpy guy around. As to your direct and uncharitable characterizations: we will have to agree to disagree.
It is an honorable thing to hold onto uncompromising virtue, and play the part of the crusader: if it is not a lost cause. Your friends are right, and others I could name: but you won’t listen. Well, then… Cheers, mate.
Christianity is no more a religion than Nature is an illusion. You lump the Real Thing in with the false: and are wrong to do so. Salvation by Grace through Faith: no works whatsoever. Every other false representation mixes some degree of works into the formula – and becomes a poser, joining the ranks of “religion” – falling from the True. And, evidently, you haven’t found this yet.
For the record – the idea that God can be wrong: is the first mistake humanity can make. You think God should have stepped-in and done something at the WWII Jewish Holocaust? How about Madison Small? A beautiful 18 year old, who for Spring Break went to Florida (?) and contracted cerebral meningitis and died. Or maybe a loved one from cancer, or drug addiction? God COULD have done SOMETHING – so somehow He is also to blame!? You are wrong, Colin: God is not to blame for man’s misery and death – man is. It is unfortunate that you are stuck on this, because it is patently an error. And it is you who is sticking yourself there.
Hard advice, to someone who doesn’t listen to others, huh?
Charles
You haven’t heard a word I have said!
You said;
“You think God should have stepped-in and done something at the WWII Jewish Holocaust?”
– where on earth does this come from…I have never suggested anything of the sort!
You then went on to say
“God COULD have done SOMETHING – so somehow He is also to blame!? You are wrong, Colin”
– what an absolute mystery where this comment of yours comes from also!
My goodness Charles I would have thought you would have flicked up by now…..
I AM AGNOSTIC !!!!
……there you go, I just said it….
send me to the wood house, condemn me to hell….go for it!
Your misinterpretation of everything I said in my earlier posts is a tad rich especially when at the end you say I don’t listen to others! Hypocrisy is the defining common denominator of every religious zealot that I have met in my entire life.
Thank you Colin,
This is why I always read your comments.
We read or listen to people, but take things in – under our own terms of understanding. You do it to me as well as I do it to you; and who is to say which one of us is worse? You mentioned the Holocaust in paragraph one; and where was God while the Jews were cueing in paragraph two: that was the picture, the math I saw.
As to being agnostic – that puts us formally on different pages. And, personally, just for me – I wish spiritually things were set-up different; that absolute and permanent divisions were not the case. But man cannot expect God to be any less than He is, anymore than I could expect you to be less than you are.
You can turn issues around on me; but taken from your own words – “Constantly I am told by friends, family and acquaintances “give up Col…don’t concern yourself with the big picture….just try to enjoy the rest of your life….there is nothing you can do as an individual…the problem is too big….” Too this I say…”what complete gutless defeatist bollacks”. Well, I take that as not listening.
Here’s the pattern: lump me in with the hypocrites to discount what I say as true or having meaning; then be agnostic and don’t recognize any God at all: and you have your full circle of protection. Tidy and convenient: but it doesn’t hold up. You can ignore the Truth; but you cannot ignore the consequences of ignoring the Truth. It was Pilate who immortalized the issue saying, “What is truth?” You? Me? Everybody?
Right on, Colin!
I agree with you on calling out the Fed. It seems that the Russian cleanup in the ME and the China action this month to price oil in yuan will continue to compress the US warmonger/elites. It seems to me, they will run out of $, i.e. the martial law called today in congress. An impotent act of desperation. Of course, we had a few shootings to distract us, using psycho-medicated crazies. As Iran positions to sell their oil, our tracking industry will be obliterated, along with the junk bonds and hedges backing it up. It seems the whole structure will simply dissolve. It would be fun to see our politicians not get their packages due to a broke government.
Gregory Mannarino , you have been calling them all the way like a keen scented hunting dog. I got out of the market at 18,200+ – Thanks to you! Then I went SQQQ for insurance because it was/is a blinding glimpse of the obvious – but this as you advise is NOT for your average investor. We are living in in unprecedented times.
Thanks Greg for having this well informed and insightful guest as a regular contributor to the best informative website in the world.
Thank you Sayonara for the comment.
Greg
Have you not been listening, reading?
The propaganda is that Russia “annexed” Crimea. Russia did not! The people of Crimea voted to revert back to their homeland of centuries by a margin of 80%. It was a vote overseen by the international community.
Khrushchev, in a drunken stupor, gave Crimea its independence during the Kennedy era, and the the Country struggled struggled. Russia leased the navel base that is currently situated there for $100M per year and they had the right to bivouac 25,000 Russian Troops at that base. The troops and the indigenous populations “got along” famously (to quote “the Donald”) and married and had families. There were no problems.
It was a quiet peaceful transition back to their Homeland. It is the US constantly looking to paint Russia as the villain of the piece. Review some of Dr. Paul Craig Roberts work on this topic. But Russia did not annex or “takeover” Crimea by force!
Go back a bit more in time, and you will find that the original inhabitants of Crimea were Tatars! Stalin deported them almost en masse and repopulated Crimea with Russians. Then Khrushchev took Crimea from Russia and let Ukraine have it. Soooooo….who is the rightful inhabitant of Crimea? I think the CroMagnons…..LOL…….maybe we should accidentally find a coin in Crimea marked “Kingdom of Tataria, 230 BC”….LOL…shades of ME.
If you are going back in time, you will find oud who belong North Amerika.
The Solutrians, Hans?
The “poor house ” awaits all those who believed and had faith in “fiat” … humanity was warned many times about believing in “false God’s” … as Mannarino says once the Fed is forced to raise rates it will inevitably “invert the yield curve” … inverted yield curves always precede a stock market crash and a down turn in the US economy … bad economic conditions will make the US dollar lose purchasing power (relative to other currencies) … and all the above provides the perfect set-up for “rising” gold prices … so … do we short the market … No!
The reason I say “No” is because I expect the Fed to create a “Tsunami of fiat” at the same time they raise rates to counter any depressionary forces … and this will mitigate to a great extent any stock market crash “in nominal dollar terms”… for instance … if the Fed “doubles the money supply” we could have a 50% correction or devaluation in stocks and yet the Dow “the number itself” could stay the same in inflated dollar terms … so “shorting” the Dow would seem a fools game … better to simply buy precious metals!
Paul, I have said in prior post that your scenario about raising rates and at the same time doing a QE4 is the logical alternative for the FED to stay credible. However, it won’t be a overt QE4 but some type of covert one, among many choices the FED has to pretend its not real money printing. That way CNBC can tout a sustained recovery, aka the small correction is over, and keep all the chumps in the market all the while they devalue the currency. For those out there that don’t believe the FED would or could do this look up Operation Twist as an example of many such moves which can be touted as not quantitative easing.
Paul
I agree, nominal stock prices may stay static while purchasing value declines. In a dollar and bond collapse, stock prices may even rise, as stocks could be seen as having some safe haven/ real asset value, unlike fiat currency and bonds which are just paper backed by paper and promises. Precious metal still reigns as the only money not backed by debt.
Real money.
Stock market guru, Richard Russell has said over and over, the FED must inflate or die.
They have the power to crash the economy or inflate the economy. They likely will chose to inflate rather than commit suicide unless its part of a larger scheme by the elites to foster development of a new world order. I’d modify the saying > The FED will inflate and then die. That’s hyperinflation followed by the final destruction or deflationary collapse. Think Weimar Germany or Zimbabwe or the host of empires which throughout history have collapsed by printing too much money and taking on excess debt.
What about real estate… how will that fare? If I paid $100k for a common home and the dollar depreciates 50% I will, as a seller, want $200k to compensate. Unless wages rise correspondingly, there will be few buyers for my home. Looks like real estate will suffer, except for high demand locations.
With automation and continued offshoring of production, the wage outlook is bleak. Multiple thousands of good paying jobs getting eliminated in the next quarter in tech (HP), banking (HSBC, JPM, BofA, etc.), manufacturing (CAT) and a host of others. Technology is also a job killer. Today, there was a story about GSachs seeking automation solutions to reduce payrolls. Robot run hedge funds. Oh yeah!
Sadly, empire collapse is no fun and may be dangerous to the health of many. It appears our course is set and without radical change, our fate as well. Radical change looks rather impossible unless we would rid ourselves of the parasites who are currently in charge and return to a country as conceived by its founders with a limited national government. Government needs to be cut by at least 50%… at all levels.
How likely is that to happen? How to change income inequality? A healthy society can’t exist with that much disparity. I have no idea how this would be accomplished other than by force.
Lake M
Lake M
You asked,How will realestate fare?
Australian realestate is feeling the pinch,not so much yet in capital cities,that will come further down the track.
Regional and country areas are haemorrhaging badly.
Towns that were thriving due to the mining of iron ore our major export (China)and government revenue source have seen realestate prices fall through the floor.
Example; I have just purchased a 3 bedroom on 18 acres prime cropping land with sheds water tanks etc,asking price 130,000 purchase price 65,000.
At the current exchange rate that works out 45,700 USD.
Its a sad state of affairs which is going to get a lot worse.
City folk have no idea what is coming.
Aussie Jeff, very interesting – which State and near which rural community did you buy, if it’s not too rude to ask?
All the best, [Aussie] markp
AJ
The asking price sounds extremely cheap to me, let alone the purchase price. My partners daughter lives in Redcliffe just north of the Brisbane airport and has been looking to buy a house for some time. In that area the prices haven’t gone down at all to my knowledge at any stage in the last five years.
Having said that this is an area which is experiencing huge population growth with some areas around Gold Coast experiencing growth rates of 5% pa. http://www.qgso.qld.gov.au/products/reports/qld-govt-pop-proj-lga/qld-govt-pop-proj-lga-2011-edn.pdf
Obviously the real estate pricing trends are very regionalized just as they are here in NZ.
Cheers
Col
PS Enjoy your bargain.
It is a ill wind indeed that blows no body any good!
Greg, Gregory,
Enjoyed the interview.
Is there a way to privately contact Gregory.
I like my privacy so do not use social media.
Cheers
David,
Mannarino’s website is called TradersChoice.net.
Greg
Thank you Greg X 2 – Panic in late December? hmmm….
http://www.trunews.com/wp-content/uploads/2015/09/Widespread_Panic_TRUNEWS-120×134.jpg
Andrew,
This link is no good. Please post another.
Greg
Hope this comes through – sorry., A
https://www.trunews.com/rick-wiles-widespread-panic-in-late-december/
Greg, if I had any common sense I would never post another comment after the link I’m about to share with you. I have been setting on this information for over a year and half because I, like many here on this site am skeptical of many things that I hear day in and day out.
https://youtu.be/Ffc82K8_6jE
Recently I re-examined the information in this video and compared it to current events and found it uncanny how accurate two of the predictions were when compared to recent information that has come out.
1.) The General stated in this interview that the BRIC nations would be involved with the takedown of the dollar in the later part of 2015. How could he have predicted that without inside information? AIIB and CIPS, were not even on the table until the Spring of 2015.
2.) The General also stated that there would be a reconstituted effort to establish the North American Union with mass immigration. Granted we may have had waves of illegal immigrants flooding the borders in Texas, but who would have thought Syria and Cuba? Certainly not me.
If he is right with the rest of the information he gave in this video, then we are indeed in grave danger, and should take whatever steps are necessary to protect ourselves and our families.
Personally, if I could have convinced the rest of my family how much trouble we’re in as a nation, I would have left along time ago with the General. But because they were skeptical (like most of your families and some of you) I most likely will die here with them. But like “Last Man Standing” used to say. I won’t go down without a fight.
God bless you Greg for having the courage to sponsor this sight.
Bankers will “paper over” what ever is needed to keep their monster “alive”… they will even nationalize their banks if need be and put every single dollar of their derivative debt on the people’s shoulders … it’s “their” banking system … they “brought it to life” and created the Frankenstein monster we have to live with … https://www.youtube.com/watch?v=0VkrUG3OrPc … they will make-up all the rules as needed … and will do whatever needs to be done … to not only keep their monster alive … but to “personally benefit” from it … so don’t go too far out on a limb and bet the entire farm on a collapsing stock market … the safer bet is to buy gold … what will drive the price of gold higher will be executives at the bullion banks … who sold “other peoples gold” … and now need to “replace it” to avoid going to jail … people who “thought they owned gold” are waking up and beginning to demand action … replacing the gold can be easily done … the bankers simply have to print fiat cash “out of thin air” and buy back all the gold they sold … “at whatever price” it takes prevent them from being put behind bars … they will pay $5000, $10,000 even $50,000 fiat dollars per ounce … to avoid jail time!
I remember this video when it came out. Don’t forget bubonic plague was mentioned as a means to take down the USA. Since then, this happened a few weeks ago. http://www.usatoday.com/story/news/nation/2015/09/10/bioterrorism-military-labs-specimens-mistakes-plague-encephalitis/71888694/
Brent.
That’s unbelievable!
The main problem with our country today isnt greedy bankers. At the core, it is the indecisiveness of our leadership. This president has all but idled our military so much that it is impossible to achieve the national security goals that we’ve set. We might as well be the laughing stock with Putin outfoxing Obama at every event. Thats like Floyd Mayweather getting bullied in the ring by a novice fighter. As a nation, we no longer take pride in our strengths. We are a Lion, but yet we cower like a sheep. If we as Americans want to solve our problems at home, then we need to settle some scores overseas and win the respect of our adversaries and the international community. Then and only then will we be feared and respected. A good first step would be a knockout of Syria’s military machine that would be achievable in about 12 hours of carpet bombing. Next we surround ISIL and round up the herd for complete extermination in the outskirts of Iraq and Syria. Lastly, we accelerate construction of military bases in the Ukraine in order to preserve democracy for that great nation. In time, we also must make Russia pay for the crimes of Crimea. Our navy could sink their southern fleet within about 4 hours and create a wasteland at their Radioactive materials complex so that rogue countries like Russia can never again threaten her neighbors.
Boy … you are some militaristic warmonger … what were you taught as a child? … kill “to settle some scores overseas”? … kill “to win the respect of our adversaries and the international community”?… kill “to be feared and respected”? … kill “by indiscriminate carpet bombing? … kill by “herding people for complete extermination”? … accelerate construction of “military bases” to preserve democracy??? … your military commander should have you behind a computer operating our drones to indiscriminately kill women and children while trying to blow up terrorists … you probably already signed a pledge to kill American citizens if ordered to do so … tell me USAF man … will you kill your pastor if ordered to do so? … will you kill your mother if ordered to do so? … seems killing your “earthly brothers” is no problem for you!
Rezo,
Let’s stay away from outright name calling. If you disagree then just state your case. Thank you for all your comments.
Greg
What’s up with Fabian Calvo? I haven’t seen him on your site for about a year.
It seems Cryptic Little Sister was right. The strings in the ECB are about to pop. My question is what’s going to happen to the Credit Default Swaps if they can’t be covered ?
http://www.reuters.com/article/2015/09/28/us-ecb-poll-refi-idUSKCN0RS1FS20150928
Fabian Calvo is no longer a doomer and is speaking out against other doomers. I still watch him on youtube but find myself disagreeing with him more and more.
Jerry … my guess is the bankers will simply declare “a suspension” of any derivatives being declared in default … if one can’t declare a derivative to be in default … the insurance claim does not have to be paid! … the bankers will probably keep “the suspension of defaults” in place until they have printed up enough phony fiat IOU’s to balance the books … so in my mind … I simply add an additional $300 trillion to the pot of fiat the bankers have already created … and assume a minimum ten fold increase in the price of gold “is already” in the bag!
Jerry,
Please dont CLS so much credit. This was in the cards a long long time ago. Since her last statement, there has been no word. She has not contacted Greg about her “sources” or how she gets this info. Please beware!
Greg, I absolutely believe your interviews are “The greatest” and that includes the interviewer as well as the interviewees. That being said, I am still troubled that the question as to “When?” is never answered. And further, the ones that did provide a “When” have all been wrong so far. Don’t get me wrong, I believe that these interviewees. are all correct. But somehow something is missing without an absolute time line. Even Paul Craig Roberts said that he never thought it could continue as long as it has and he has no idea as to what rabbits thy will pull out of the hat. i agree that it is better to be a year early than be a minute late. However, remember, all food stocks have an expiration date. My inner sense tells me that the system is going down. But, it told me that 10 years ago when I first started to prep.
Mark, YES! That is why sometimes I just wish “it” shift, would happen and get it over with so we know how to proceed.
I don’t think that Carl Ichan just woke up. He has kmown the gig all along and was riding the bus until now. He maybe pulling the plug ahead of the other big players before they can finish their readjustments, moving him up a notch or two when it’s over with.
G and G, Greg M said gold will double the dow, (ie) dow 4000-gold 8000. I was wondering will if the dow amount will be at the top of the market, 18000 and some change or when the dow crashes and at the low amount. The only reason I ask is because other guest amounts fit in both ranges so just trying to see what “The Mann” estimates the price of gold. thanks
Dow 4000 will force the Fed to print like crazy … this will make the value of the dollar likely worth 1/4 of what is is today … therefore a 4000 dow will effectively translate to a 16,000 dow (in nominal terms) … thus gold selling at twice the dow means it goes to $32,000 phony fed fiat IOU’s per ounce … as this is less then the 50,000 Jim Sinclair expects … better change the 1/4 above to 1/5th (meaning the value of the current dollar will be worth only 20 cents) … which then means a 5 oz can of tuna will cost $5 phony fed fiat IOU dollars (or the ounces will be reduced … making the cost of a one ounce can of tuna one fiat buck)!
The “distortions” were INTENTIONAL. The “transfer of wealth” was INTENTIONAL. When it all comes crashing down, those who caused the crash will end up with their “golden parachutes” and laugh at the misery they caused.
When Pope Francis gave his speech at the UN on September 25, Agenda 2030 was officially launched. What used to be called Agenda 21 (for “21st Century”) is now in roll-out mode and in 15 years, this present world will not exist, nor will most of its population. The symptoms of these machinations are visible in the markets, decline in economies worldwide, but all of this was PLANNED to take place. We are just seeing the surface of a much deeper erosion by those at the top of the pyramid.
Greg Mannarino is seeing what’s coming and he’s right, but he does not even touch upon the real causes. The central banks are just tools for the job being done. They take their orders and many of the people may not even know that they are just pawns in the larger game. There is so much compartmentalization, there are only a small handful of people at the top that know the big picture. If the Fed is scared, it’s because they’re going to lose their jobs, not because they have any remorse about what they’ve done to the rest of us. This WILL be “the end of the world as we have known it,” and it’s been heading this way for more than a century now.
Hear, hear.
Greg maybe it will be a slowburn down over a couple of years rather one gigantic crash??
Billy,
The crash will take place in various places, like losing the straps on suspenders – grabbing and trying to hold the pants up. All the while nobody will spill the truth and media propaganda will shift to full-State lies. This way many marginal people will ease into Depression and accept it; others will cause social unrest up to the point it will have to be looked-down. I don’t think this decline will last over a year from now.
Locked-down. Sorry.
Thank you Greg and Greg, the coming slide will be epic. Another individual I read thinks that the “correction” is simply the end of a bull market within a secular bear market that was interrupted by QE1. The bear market underway back in 2008 will resume where it left off. When I hear stuff like that my choice is to not be there.
I started getting out with QE1.
I agree with Paul’s post above that with inflation from QE infinity they may keep the DOW at elevated levels but the PE ratio’s will be … what’s the PE ratio of a Blue Chip that has shut its doors? How do you correct the DOW for inflation? We’re in uncharted waters with no good frame of reference to navigate out.
Greg!
Love your site – great guests and commentary all while staying on topic with the economy. For the most part you all seem right on the money, but lately I am sliding toward the ‘disagree’ column. For all the blogs I read about the economy being in the tank – I am finding that harder to believe.
I see building going on everywhere.. Homes in my neighborhood sell in 2 weeks, my peers are buying new cars, new motorcycles, homes, etc.. My economy may not be doing so great, but I think I am the exception.
. Bought gold at 1300 – ouch – so much for the ‘Gold Boom’!
. Net short on stocks – ouch – apparently stocks with a P/E of 60 are still under-priced!
. Jobs on Monster.com are coming in pretty quickly, with no abatement.
. NONE of my friends or colleagues are in danger of layoff – in fact – many are accelerating with promotions and new business opportunities.
I was reading Martin Armstrong’s blog yesterday, and he said that we are at the low, so the upside is on it’s way after his ECM peaks.
What I am trying to say, is that I am not sure that things are as bleak as everyone is saying. Unless I am missing something, I am starting to believe the MSM – “Everything IS Awesome”.
Sincerely,
Eric-
Eric From Raleigh
You are going to be extremely disappointed. All the best while your ride lasts.
Greg
One reason The Great Red Dragon symbolizes a serpent (python, etc): It slimes its victims first, before it devours them. In this case, slime is money.
Eric … if you look at past history … the downturns created at Shemitah’s “seems to represent” a good time to be “buying or accumulating” stocks … holding for six years and then selling … perhaps this is what Armstrong is seeing???
Don’t forget, as Catherine Austin Fitts and others have pointed out, there are “pockets” of the economy that are going like gangbusters.
Anecdotal evidence is always useful and interesting, but, never forget to look at the bigger picture: total hours worked, labor force participation, Baltic dry index, electricity and fuel usage, miles driven, tax revenues, import and export figures, etc.
When everybody is yelling stock bubble, you can be pretty sure it’s not a bubble. The real bubble is bonds. When enough people finally realize that the government is insolvent and their bonds are worthless, they will sell bonds and buy stocks and precious metals. That is when the real bubble in stocks and precious metals will form. In the meantime, the Fed will go back to counterfeiting money in a big way but it won’t help. Hopefully, this cycle will be the end of the central banks and their bubble blowing and crashes.
Question/Concern:
Currently I have a 401k account from an old employer on which I was pretty satisfied with their options however that’s going to change within the next month or so.
Any advise as to where I should park this money besides emerging myself into gold??
Thank you for your great work in keeping us informed.
Thanks again,
Ted
Rick Wiles from Trunews interviewed the founder of Cornerstone Asset Metals…https://www.trunews.com/wednesday-september-9-2015-terry-sacka-and-bo-polny/ It’s not for everyone, but may be an option for some.
Ted … you can buy boxes of nickel’s … and keep them “unlocked” at home … for unlike paper dollars they can’t easily be stolen by crooks (they are just too heavy and can’t be easily spent by them) … they are fire proof and termite proof … the bankers can’t bail them in … they don’t fall in value like gold and silver (they are always worth a nickel) … and if inflation takes hold and the price of copper and nickel rise the metal value of one nickel could be worth 25 cents or more!
Coming soon from Hillary, Obama, main street press – all who will blame the collapse on those who hoarded gold and silver and prospered off the misfortune of others.
…….and as usual, the whole planet is being set up to go to war. So the criminals can elude justice via the created mayhem. Same recipe. Different generation. Too bad that most of us are not old enough to remember the last time that they did this to us. Perhaps we would have disallowed it.
“All the cash the little guy has put into this market is siphoned off legally”. FINALLY, someone said this! It is precisely why no bankers have gone to jail in the last 8 years. They quietly “changed” wordage in the fine print waayyyy before all this started. Not to mention the bankruptcy “rules”.
Both of you guys have had a profound positive effect on many lives. You are Truth tellers.
I marvel at the quality of people Mr. Hunter has had on his site. Mr. Mannarino has indeed been quite prescient in his calls.
However, we the American People must now take up the torch and exercise our remaining rights as free citizens. The government edict is to divide and conquer.
This from Richard Russell via King World news: It’s a Ted Talk about US food quality.
https://www.youtube.com/watch?v=rixyrCNVVGA
And again, I encourage everyone to go to http://www.geoengineeringwatch.org to learn the science behind one of the true reasons behind “climate change”. Yes, emissions play a huge role but then so do those globe-master aircraft spraying billions of tons of aluminum, barium, and strontium particulates into our atmosphere. This is Auschwitz x 10 and it’s being done right out in the open. Most people don’t have a clue.
Think about it. Everything is engineered. From the financial sector (HFT)to the Political Sector (Citizens United?) to the Social Sector (Facebook, etc) to the media (4 Media conglomerates own everything) and on an on. Now the weather and “weather wars”.
The drought in California is being caused and conducted by geoengineering and these psychopaths.
Remember, United We Will Stand. And this nightmare over the last 25 years has all been By design and implemented over time.
Lets all get off of our butts, and DO ONE THING! Inform one person who may be receptive. Adopt one project in which you have a passion. Animals? Environment? Children? Politics?
The most power and informed group are the boomers who have one foot in the past and an eye to the future. Greg’s correct, “fear not”. And it is time to make a stand. To get rid of this vermin that is running down this once kind -sorta great country. Don’t forget we did steal it from indigenous populations and broke every treaty we ever made with them. It is a country built on blood, theft, and broken promises. And we, the American people, just like the Romans became fat, lazy, and complacent. Too many circuses.
However, there is still a percentage of this American population that is honorable. It only takes 10% to turn the tide–be part of that 10%!
The founders of this country endured hell. They were tortured, their loved ones were killed, their homes were burned, and they paid a terrible price for freedom.
The courts in this country are now totally corrupt. They have now said that it is perfectly acceptable for elections to be “bought”. A corporation with billions of dollars is the same/equal as an individual as far as contributions to a campaign are concerned.
The courts now inform us that if a company’s horrible toxic non-reversible pesticide blows over into your corn field, you must reimburse them FOR YOUR LOSS and not the other way around. What is wrong with that picture!?
If a bank gives you a phony mortgage, breaches the contract, creates phony documents, alters your loan documents, and creates phony assignments, it is perfectly acceptable. 43 TRILLION dollars in homes were stolen from Americans in 2004-2009 and the problem is on going. This was the biggest scam in American Real Estate. Visit http://www.livinglies.com for more information on the topic. The next big one will be when the Bond market collapses and of course the Stock market comes next or vice versa. But Mr. Mannarino, in my opinion, is correct, it is very very close. I can taste. (sic)
The judges believe they will receive their pensions after licking the boots of their banker/politico masters who have sold this country down the drain for their bowl of porridge. The joke is on the judges who swore to uphold the Constitution and always murmur about how the law is their life. Baloney. They will not be receiving their pensions–they will be in the breadlines or worse. They have betrayed the trust of the American people and the Bankers will have fled after throwing them under the bus.
What else would you expect? Do you think that the judges and the political class are store housing PM’s?
Finally, read Greg’s List of Favorite Sites: New WTC Building 7 commercial: This is a must see and you will not see it on the MSM!
Now you know what started this mess: 9.11. And like Kennedy’s assignation, it will all come out one day. However, this time it is coming out much sooner than they would like.
The intensity of the “Chem Trails” in Central California has been mind boggling. The “Globe-masters” have been flying at high altitudes from dawn to dusk until the chemicals are so thick you can taste them. I show the long white trails to people and they say: What ARE those things? Clueless comes to mind. Clouds are now confused with Chem Trails.
The plan is to make the lives of the ordinary citizen so very difficult that there is no energy or resources remaining to fight the good fight with regard to the pshchos and propaganda being hurled at us 24/7. DO ONE THING. After all with 90 million under or unemployed, there has to be a few folks out there with some time on their hands.
Something is up! And is is close. The “Chem Trails” are telling a story. Dane Wigington, a guest on USA Watchdog, prefers the scientific term geoengineering. There will be enormous storms in California this year and there will be hurricane type winds which will decimate the dead trees and flood the rivers and streams. There may be earthquakes caused by depth charges set in the pacific. The fracking process will abet the damage. It is weather wars and all by design and implemented over time.
Before you buy and oz of silver, purchase the necessities of life for six months and don’t forget the pets. Six months of dog food for three dogs can be expensive and when they look at you with those big trusting eyes, you don’t want to let them down!
Stay strong people. We must organize and we must stand united. Communities and groups. We must look forward and understand their plan in order to prepare.
Best to all and God be with us,
Stewart
Good thoughts Stewart … looks like we are headed to endure what the founders endured “hell, torture, loved ones killed, our homes burned, etc. … that is the real price for the freedom we take for granted … and “yes” let’s not forget to store away some dog and cat food for these innocent ones!
Here’s a series of articles piggybacking on Strauss & Howe’s “Fourth Turning”. The necessary 2nd catalyst appears to be the coming crash Greg M. and others are saying is coming. Those who like charts for grasping just how bad off we are will find them in these articles. http://www.zerohedge.com/news/2015-09-28/fourth-turning-crisis-trust-part-3
Btw…just want to add…I love Greg M’s analysis/data and integrity/honesty. Thank you Greg for having him on again.
This is huge! November timeline for dollar collapse may be about right if the IMF gives China SDR drawing rights in November.
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20150607000034&cid=1203
Jerry. By the time China is welcomed by the IMF China will tell the IMF they don’t need it.
I knew this type of thing was going to happen when Ronnie Raygun ran the deficit up in the ’80’s.
Ray Gun’s star wars spending and his lowering of taxes did indeed increase the budget deficit … but at least “we’ got a little something out of it” … the deficit today only benefits the bankers and their military/industrial friends!
Excellent interview. Always great to hear the two Greg’s. Great call on the market top.
GREG:
Thank you for having Mr. Mannarino on. This fellow is really telling it like it is, and so I’m not surprised that he was having troubles with his website in the recent past. However, you can’t keep a good man down for long, as the truth will prevail. I really appreciate you and your great guests/information. Thank you again.
“This Generation” of Christ’s Prophecies
When Bible prophecy speaks of “this generation,” it is necessary to consider the context to determine what generation is meant. Jesus Christ, when denouncing the Jewish religious leaders, concluded by saying: “Truly I say to you, All these things will come upon this generation.” History recounts that about 37 years later (in 70 C.E.) that contemporary generation personally experienced the destruction of Jerusalem, as foretold.—Mt 23:36.
Later that same day, Jesus again used practically the same words, saying: “Truly I say to you that this generation will by no means pass away until all these things occur.” (Mt 24:34) In this instance, Jesus was answering a question regarding the desolation of Jerusalem and its temple as well as regarding the sign of his presence and of the conclusion of the system of things. So his comment about “this generation” logically had an application down to 70 C.E. However, he was also using the word “generation” with reference to humans whose lives would in some way be associated with the foretold events [us now]during his second presence or as some say, [second coming].—Mt 24
G.Berkshire,
I would not be sprooking too much about which generation, your 1914 generation failed to materialise,I suggest, rather than trying to work out what generation will see all these things occur, you may want to concentrate more on making sure you are “ready,awake,and on the watch.”
The timing of events will be according to God’s purpose, so lets stop trying to work out the “when”
God Bless.
Greg and Gregory,
Thanks for the interview. I like Gregory and usually try to go to his sight a lot if not a couple of times a week. I just wish I understood the market like he does. He makes it sound so easy…he is way above my head on a lot of these things but that is okay. I am settled into my situation and holding cash , but mostly PM’s. Just waiting for the count down. I think Gregory is a wonderful man trying to share and help with his knowledge asking people in return to give some of the money to charities…what a man.
I certainly do appreciate both of you for your great job. Honestly, I would be lost without all the things I have learned here. I have certainly have had to stick my nose in a dictionary and online trying to find all the terms you guys use. Thanks !
Just wondering if what is happening in Europe with all the clashing, looting, and chaos is what is coming to a country here. It is not reported but the immigrants are storming food markets and other places. Gregory you say we will see death here. Is it going to be because of resources such a food?? When I was living on my own at 17 I knew what it meant to be hungry..that is why I have so much extra food that I have bought to put back , canned and dehydrated. I will be like Scarlet O’Hara, “I will never go hungry again…but I sure do not plan to lie, cheat, steal and kill…and whatever she said. Well I may lie about how much food I have. I don’t think many if any of us would know what going without food for a week would be like. I could stand to lose an couple of pounds, but boy what a way to do it.
Another thought I am just wondering if the whole or most of America will go through the process of when someone dies….
7 Steps : Shock and Denial
Anger
Bargaining
Depression
Acceptance
I guess we will see what happens when everyone hits the anger button. I’m not sure any of use will know what that feels like to lose everything. Those poor people in the stock market, mutual funds, 401K’s and IRA’s, etc. They will have their whole life saving wiped out. I think some are afraid to take the chance because they are so busy working and don’t have the knowledge to learn that they are in a deadly trap. Thank you Jesus and pass the gravy that He knew I needed help and so He provided. Thanks to everyone on this site for all your insights. Many heads are better than one.
It should have been 5 steps, sorry, but I was looking at one for 5 and 7 steps.
That is what I like about you guys. You at least all agree to be SYCOPHANTS.
Well Beano,
You’ve already agreed to be a rude anonymous jerk, and you have nothing intelligent to add to the conversation. I guess that is what trolls do.
Greg
Didn’t mean to be rude but every time I come to one of these financial sites it’s always the same! THE SKY IS FALLING, THE SKY IS FALLING and I have been hearing this message for 25 years!!!
Then go somewhere else like CNBC. Buy and hold for the long term and you will be rich. Don’t worry everything is fine.
Greg
Greg.
Commenters like Beano make me want to invest in a body bag company. Lord knows they’ll be a premium on dead fools.
Why should I? When you guys make me rich? 🙂
I have to wonder if the stock market has been manipulated to get people to put $ initially back into banks, cds and cash which are easier to confiscate (as in Greece).
They wouldn’t literally confiscate the cash per se, but can manipulate it’s value until no one owns nothing except the elite. Maybe I am crazy because this concept looks like it is likely.
Greg, what should someone do with an IRA and/or CD?
Don,
That is your personal decision and I am not investment adviser. That said, many have told me they have cashed out their IRA’s (paid the tax and penalty) and took direct control of the money and invested it into tangible assets.
Greg
Of course, I am not Mr. Hunter, but, I feel compelled to respond to your inquiry.
The way you’ve phrased your question gives pause. Perhaps you already fully understand this, but, one should be sure to maintain complete clarity in their approach. A “CD” is an investment vehicle, whereas an “IRA” is a set of rules concerning taxability. They do not necessarily have anything to do with one another.
Having said that, typically, a CD is issued by a bank. And, if so, those assets are subordinated to derivatives contracts in the event of a bank bankruptcy. I believe that this is without regard to whether they are or are not in an IRA, but I am no expert.
About the IRA, there is a way to set up an IRA such that you can hold whatever assets in it that you choose. It’s a little bit complicated, but essentially your IRA becomes an investment LLC, and you are the sole manager of the LLC. Of course, it is much simpler to just “cash out” an IRA, but, of course, that typically involves incurring a huge income tax liability.
I realize your all concerned about your money,BUT you have way bigger problems then money,YOU HAVE 20,000,000 foreign troops on american soil,THIS is where the real danger lies,AND RIOTS or just unrest in the population will kick in martial law,and its what oboozo wants,HE’LL take over the country and won’t have to hardly fire a shot,AMERICANS are the biggest cowards on earth,they’ll go down with hardly any fight at all,…THIS WILL BE THE END OF EVERYTHING,take care my friend……
Twenty million? where are they? That is a very big number…care to eleaborate?
Thanks
Arizona … the bankers will be making a big mistake bringing in “foreign troops” to American shores to kill US citizens that the US military won’t (military men have sworn an oath to “protect American citizens from all enemies foreign and domestic” … just watch what happens when “foreign troops” begin to kill Americans … our military men ( not the ones giving orders) will quickly join us ordinary citizens to fight these “foreigners” and protect their own families from a “banker directed” slaughter of the very people they have robbed of their life savings!
Paul.
Read my post above. They’ve been data mining for years to load potential threats into a sky net drone based defense system. Jade Helm 15 was the final phase to coordinate ground intelligence with cyber technology. I have seen the satellite platforms being put in position all over this country . We won’t see it coming when it happens.
IF the coming Greater Depression is worse than the last one, how many millions of people will they kill this time?
http://english.pravda.ru/world/americas/19-05-2008/105255-famine-0/
They are hiding this too – it gets scrubbed off Wikipedia. And just because something isn’t allowed on wikipedia doesn’t mean it is false – it only means it is not official, that’s all.
Mannarino sidestepped every single question that you asked Greg. He’s said the same crap for years. Heck, he said the BIG crash was going to be last October in 2014. How’d that work out? He talks out of both side of his mouth so that he can be right now and then. It’s gets old. Day after day, he says the same thing and that’s why he only does videos a couple times a week now instead of daily. I can’t believe all of the Sheeple who drool over him. Sure, we’ll see the market go lower and we’ve had a 10% correction. Big deal, we have them every 5 years or so. And everything comes back and will again. But this epic proportion garbage and death in the streets is ridiculous. I’ll remind you AGAIN next year at this time like I did last year around December when nothing happened !!! We’re having a correction, get over it. Think long term. This could take awhile but we’re not going down to 5000 or 6000, mark my word. I have silver and I’m somewhat prepared for a little financial chaos, but it will be back to normal in a couple of years or less. Chill out everybody, sell some high flyers, go on vacation, and have a cocktail. OR, worry yourselves to death every day for another year or two and I’ll tell you the same thing again next year. Go watch something funny on TV and enjoy life! Peace !!!!
Mr.
Mannarino called the top of this market on USAW and that is a fact. One of you is right and one of you is wrong and I am going with Mannarino.
Greg
Mannarino said the crash/collapse was coming in September, what happened ???? or are we just giving him an all your guests a pass ?? Not one prediction on USAW has happened, all we know is that things are getting worse. Worse is the new norm, prepare accordingly.
Thomas,
The markets have been gyrating up and down and we started the month with 1,000 point flash crash. China has lost 40% of the value of it’s market, It also announced 100,000 layoff of miners, the real has crashed in Brazil and corporate profits are tanking around the globe and total fraud is propping up the system. September was a great month. Buy and hold for the long term!!!!!
Greg
I agree with everything you just said, but I don’t think it will crash but more like a slowly sinking ship over the next year or two. Appreciate all that you do GH, even thou we disagree.
God Bless Greg.
I’m laughing when i suddenly realized what your interviews reminded me of. I remember sitting at a favourite uncles kitchen table, while he and his friends/ visitors discussed the world. My uncle enjoyed good manners with his visitors, listening closely to their opinions and never interrupting. On the other hand, when good friends were gathered, the discussion was raucous, where everyone interrupted in a friendly melee.
Greg, you are the modern day ‘Mr Smith Goes to Washington’… (it’s a compliment!) …you see the world through eyeryman’s eyes. You share the disgust that our ‘Leaders’ have turned their efforts to narrow self, regardless of their pledge.
They knowledgeable people you have interviewed have added much understanding to ‘We the sheeple’ (with the coda that , here on the farm in Nova Scotia, i have better things to do than follow the machinations of the ‘world’s Elite)
I think you and Mr Mannarino have had a series of kitchen table discussions. I say that because you interrupted Mr Mannarino a number of times….just like my uncle when discussing with close friends.
I also noted you didn’t speak your signature “What say you?” my guess is that you already know. (smile)
I listen to Mr. Mannarino, but his confidence in his opinion cautions me. Things are never black or white. The est scientists learn more when an experiment fails, than when it succeeds.
The STock Buybacks are a most unsettling indicator. For a company to borrow, or cut research / capital investment…in order to buy their own stock at the top of the market …..is sheer madness.
It is self immolation.
I have often asked myself what is going on with the Buybacks …..ut there is no Black and White.
So far i have:
1. There are many CEO’s and Boards Of Directors who are either feathering their nests, or don’t know their ass from a hole in the ground.
2. There are so many companies engaged in self immolation, that there must e someone powerful directing it.
3. There is something else that i don’t know.
I’m guessing it’s door number Three.
FEAR NOT! (see to your loved ones)
James,
Part of that was a recording problem I had with Skype. The audio was out of sync and it appeared I talked over Mannarino. On the other side I had to edit out dead space between each and every question I asked. Don’t know why it happened. Thank you for your comment and kind words. Not trying to be defensive just giving some background information about the interview.
Greg
Dear Airman Treadway, Sir:
With my full respect to you and your collegues, who are us, our leaders are doing exactly what they want to do. Carly Fiorna has much more balls than the President. But his goal is to weaken the US and destroy our world relationships so badly that we cannot recover for many years. Even if we provide leadership now, they will still not trust the American people in one term or several terms of Presidents. Now they know that Americans could easily elect this kind of moron leadership at any four year point. We are now jsst untrustworthy because not so much electing this third rate mind the first time by repeating it the second time. Now the world knows the voting majority of voters could go Libtard at any election. We are at best going to be second rate for many years and most likely third rate after the global money crash for several hundred years. People need to revaluate everything they have known for 500 years in the USA. It is all going to be different and people who read this website are not going to like it.
A quote from Tyler Durden at Zerohedge:
This Bear Is Just Waking From Hibernation
Submitted by Tyler Durden
When you tell people in self-denial the market could drop 40% in a few months, they think you are crazy. They declare this could never happen. They would get out of the market before it would fall vertically. Their memories are conveniently short as their normalcy bias and cognitive dissonance blind them to what happened over three months in 2008/2009. We wonder how many willfully ignorant investors can handle a 50% to 70% haircut in their 401k, especially if they are over 50 years old. We wonder how much angrier the populace will become when the current recession results in more job losses, bankruptcies and revelations of Wall Street malfeasance. Beware of the bear.
Greg
I will bet on Gregory Mannarino too.
I have quizzed every chance I have had about the Depression. Here is a synopisis of the answers worth telling . I have mentioned a few before. “We just did not spend money” After hearig that many times I figuured out they did not spend either because they had no money or because they never thought they would ever get it come back if they had it in the first place. From Grand Junction, Colorado when I lived there. “In the winter we had rabbit roundups and everybody killed all we could, loaded them on a flatcar at the railroad bound for Chicago.” They got a few cents each. “Papa saw it coming in 1929. We were in Chicago, when he got our of work. He loaded everyone in the car and drove to Alabama. He managed to buy ten poor hilly acres with a spring, we lived in a tent the first summer until he could scrape up enough old lumber to build a little house with a dirt floor. We lived there seven years, he would work ten hours behind a mule for 50 cents a day”. The coal fields of Applachia were worse in many ways. “They wouldnt even tell about the widows and orpans. But if you had any income there were always extra kids there for a big pot of pinto beans for dinner.”
Then there was a guy who rode a truck from the store through the country with his big brother. He started by taking some small package of food and trading as his brother did. Always bringing home something the family needed and were short . His brother had to make a little for the store with goods he returned with. The kid became a man and used his learned skills to get rich when he grew up and the depression finally ended 25 years later.
Coal,
Great real life story…. I have been exposed to stories where 7 million people died during Great Depression. Who knows what is next.
You may want to write this story into a book.
Watching this Syrian issue today (scary situation). Thanks to our fearless leader and his cronies who created this entire mess in the region by arming the “moderate rebels” in Syria (ISIS), and then failing beyond belief to clean up this horrible nightmare, we may be in a world war very soon. To the average Joe, the Market may be of least concern when this occurs. BUT the manipulators at the top of the food chain will always find a way to benefit from the misery of the masses. God help us all.
Hi Greg, Thanks for having Greg Mannarino on. Guys like Greg, you and me speak the truth regardless of whether we are on one side of the trade or the other. People like George Soros and Carl Icahn only reveal the truth when they are positioned to gain from the way down in the stock market.
Greg,
Thanks for the good program. Acknowledge that Greg Mannarino is a smart trader is generally trying to help people. Also that he did call the market top. At the same time, he has also been telling individual investors to be your own central bank for years and to stack gold and silver. The results have been horrible. Silver he was advocating in the 30s and it sits at 14.50 today. Gold was also much higher.
While Greg is now discussing decoupling — there is no guarantee that gold and silver will break out as he says (with silver prices going well into the 3 figures). The decoupling theme has been discussed for years. The Fed’s QE programs from here on out may be quite limited as they haven’t worked, and you might actually see the dollar strengthen further. David Stockman recently was saying go to the dollar as was Ms. Prins.
As a short term trader, his results have been strong. As an investor, the story is still out and not looking good at the moment.
This is where we sit right now.
J Smith:
So some have paid a few dollars higher in the past for gold and silver. This isn’t going to be such a big deal in the future when your worthless paper money is being used for toilet paper. If you look at gold and silver (a tested true asset), over the long haul (big picture), these metals and their value will keep escalating. The prices of these metals are down now, and physical supply is also limited, and so this situation should be sounding off alarm bells to those who are watching and have any sense.
JSMITH,
This is market where you have a rising demand and prices falling(silver&gold). Certain places are selling out of precious metals and some have multi week waits.
If this was any other commodity or product this would not be the result. The full force of manipulation is being thrown at the pm markets. Please understand that.
Greg. I would like to hear from William Black. John Boehner left office strange timing.
Hitlery legal troubles. Update on the IRS scandal. I really like his interviews. He said in his last interview by the end of summer we would be into our 5 th scandal.
New scandal in the IRS.
http://watchdog.org/240342/irs-taxpayers-information/
WD and Linda,
Understand your view. While I said that Greg Mannarino is a well intentioned guy and called the top,
There is no real shortage of Gold and Silver right now. Yeah, the premiums are high on American Eagles and Canadian Maple leafs. That is because the molds and capacity of machines are constrained. If you want silver bars — the premiums are not unusual. Also, the Sprott Gold and Silver trusts trade at a negative NAV. If demand was so high, arbitragers would buy the trusts, ask for delivery from Sprott, and sell the bullion to be made into coins. In effect, no supply shortage.
The Fed and the next president (maybe Trump) know that Q/E has failed. Politically, they may consider “some” level of Q/E — massive is out for now. Stockman said himself — forget massive Q/E. Massive deflation is coming. Stockman is one of the brightest guys on the planet. Why didn’t Stockman say in effect “Become your own central bank.”
Greg saids the central banks will do everything to save the system. That is an opinion and not a fact. Even they are seeing that they cannot stop the deflation.
In short, there is a good case that gold and silver just decline — maybe at a slower pace than the market, but decline regardless in a deflationary world. That is exactly how they are trading.
Greg Mannarino may have put all of his believers at risk. He knew the Gold and Silver charts were breaking down. He saids that he looks at a lot of things technically. Perhaps he should have looked at that. Yeah, he called the top and yes, he is well intentioned. It is just that the road to hell is paved…
JS Smith,
You said, “There is no real shortage of Gold and Silver right now.” My experts beg to differ.
Greg
Hi Greg. Appreciate everything you do with the show. Regarding the shortages of sliver. Please take a look at ebay — if you want 2015 silver monster boxes, you can can buy them for a market premium. Also, Take a look at the Silver Doctors this weekend. Here is what the Perth Mint is saying: “…according to the wholesale manager of the Perth Mint. “There seems to be a bit of frenzy as people think there is a shortage of silver. But in fact it is a (crunch in) manufacturing capacity.” The surge in demand is largely being fueled by what the mint is calling “mom and pop” investors in the United States who want to take advantage of the price dip…”
The reality is that silver supply has actually been rising consistently these last few years even with the low prices. Can get you the charts from the Silver institute.
Also, if you look at premiums paid at the Shanghai gold and silver exchange — they are not unusual for the larger stock.
If there was a real shortage — people could go over to the Sprott Silver Trust (which trades at negligible premium to NAB this weekend) and pick up the silver immediately. Sprott Gold Trust also trades at a discount to NAV — if there is a gold shortage, why do not people snap up the shares.
I would love for their to be a silver shortage, Greg, in that my investment (per Greg Mannarino) would begin to rise.
All I can do is look at the numbers rather than the rhetoric. If you have a guest, that is not going to discuss their beliefs or opinions or partial evidence and can show — mathematically — that a broad shortage in silver or gold exists — we will take our hat off to them.
Yes, Comex levels of gold and silver or dropping but that could quickly change with a brief price rise.
Appreciate all you are doing. In this case, all I have is the actual demand and supply numbers to work with.
Greg, I know your Friday Wrap Up will be talking about Russia and Syria. Oh, and probably Obama and his 7100 missions which Ash Carter (Sec of Defense) mentioned, but he forgot to add only about 500 of the 7100 actually dropped any bombs. Obama has been outsmarted once again by Putin, Putin knows all to well what the invasion of the religion of peace will and can do, just look at the Baltic States, Obama, on the other hand can’t even say the words Islamic Terrorists. Maybe Russia should stop ISIS as Obama won’t. Frankly, I have enough of Muslims beheading and killing each other and my brothers & sisters in Christ; what say you?
I really hope Putin stops ISIS.
ISIS to me is a runaway Frankenstein monster . I guess that was the plan?
US Fed is almost ready to launch an attack on “emerging market countries” to put them into default “warns the IMF” by raising interest rates … the Fed will “take down” many emerging market corporations (which have gorged themselves on cheap debt) as “pay back” to the BRIC nations (who are trying to free themselves from the dollar) … hope the BRIC’s have contingency plans against such a Fed attack!
Hi. If our 401k’s were to become worthless,but currently we can’t withdraw the money now due to limitations (age <59, currently employed by the institution), is there logic in borrowing as much as possible out of the 401k to buy tangible assets? I wonder what will happen to debts against a 401k.
thanks for any thoughts.
Be sure you understand the tax implications; on its face, it doesn’t make sense to do. As you are working, you will have to make payments back into the 401(k), and (if I recall correctly) the money you pay back is after-tax money. If for some reason you do not make the loan payments, the loan will be “deemed” as having been distributed, and it will be a taxable event.
Also, of course, upon termination, you’ll have a limited amount of time to pay back the loan or it will be considered a distribution, and hence, a taxable event.
I faced exactly the same situation, and chose to take loans.
Events are moving quickly. Tensions are high. Violent actions are increasing. In the U.S., but also in China. On the inside, this year is the year for the gun grab. A proxy war between Iran and Saudi Arabia has just heated up. Begin preparing now. Move quietly but firmly to the exits. If one is blocked look for another. Don’t attract attention. Cash out in increments. You will want to have bullion silver as well as cash.
Greg has asked about what the common man can expect in the coming months. I thought that the following might provide a good insight. There is an expectation (as well as a plan) in the upper eschelons to shut down self-employment going into the new year. Unemployment will be high. The Fed will be propping up the dollar, but the expectation is for it to continue dropping after a bounce. People will likely be using silver to supplement the drop in the dollar. You would do well to be ready now to use both in tandem through the middle of next year.
There is a lot of panic at a lower level of insiders. Final preparations are being made. The crash in the market and in the dollar will coincide. The event is sequence driven, so the date is always difficult. The Congress will pass the NDAA before it happens. You will not have time after that. Begin preparing now to be able to run for shelter when the Preident signs the bill.
From what I believe, the U.S. will look similar to Ukraine by the end of next year. You will think that I am insane, but there it is.
lmao, CLS, now it’s “End of Next year” , come on, you can do better then that?
Greg, this late I don’t expect you to post this: Shooting in Oregon College killing Christians, of course, if this is so, our Muslim President will call it school place violence, not a religion thing. The FED’s will do all they can to cover up the religion of peace and their agenda; like always. Christians, hold on to your Bibles and guns as your going to need them!
I mentioned it on the Weekly News Wrap-Up. Thank you Art.
another high quality commentary. as usual.
we seem closer to serious military conflict and showdown than an economic catastrophe.
Good work Greg, keep on!
Hi Greg…you do a great job of reporting the real news of the day..your reporting skills are very impressive and that lends more impact to your outlook..i have been trying to warn family and friends about what is happening…they all think i’m nuts and don’t want to hear it..so I stopped lecturing… I don’t think they can believe that our government is this corrupt…yet they feel something is not right…we who know our history can only watch and wait … I feel we are the true patriots and I appreciate your hard work..as well as Mr Mannarinos….may god keep you well.
Thanks Greg, Mannarino is right. A man these days needs to look around and ask himself “What will I do from here, where I am? What can I expect to actually achieve with what I have?” Don’t concern yourself with Sasquatch sightings when you KNOW there is a skunk living under your porch. I have no reason to not believe GM. There are plenty of good reasons to doubt several regular posters here. All the same I enjoy their opinions. You do good work Mr Hunter.
Greg is right on in his analysis, I believe. It’s obvious to anyone with a correct worldview that you can’t go into this much debt without repercussions. And the longer it continues without crashing, the greater the crash will be. If they can crash it anytime, then they can keep it going, too, but God really holds the power. I think they could work some magick here and get us through to a One World govt without it crashing. However, after that, the next leg of transitioning to a 10 kingdom world govt is when there will be a massive WW and enormous inflation. 1/4 of the world’s population will die. It’s in Revelation, chapter 6.