Trader/analyst Gregory Mannarino says forget about the recent market rally, the markets “have nowhere to go but down.” Mannarino explains, “According to the charts, something big has already begun. This is not a ‘maybe this will happen,’ this has already started. The market averages have gained over the past few weeks, but we had an abysmal start to the year. The only reason we have seen this stock market rally is on speculation of crude oil. They will not allow crude oil to drop anymore because it is a currency. There are too many things linked to it. . . . Nothing has changed fundamentally. What does this mean? This has been a fool’s rally.”
Mannarino also says, “The world powers are trying to get together to stop this. It can’t be stopped. They have inflated this bubble in debt, and that is the greatest threat to humankind. . . . People can’t say when is the crash coming? It’s already here. It’s already begun.”
The data that Mannarino sees it’s just screaming “crash.” Mannarino contends, “What it is screaming is the market wants to do its sole job, and that is to establish fair market value for assets. It’s something that it has not been allowed to do since runaway central banks have taken over this entire thing by manipulating the debt market, the biggest market of them all. They have been successful in creating massive distortions across the spectrum. I am talking currencies, housing, crude oil, derivatives and the stock market. This will correct to fair market value. It’s a mathematical certainty, and it’s already begun.”
On silver, Mannarino says it has turned and is on its way up—way up. Mannarino says, “It’s broken out. I would expect a slight pullback . . . then we are going to get a much higher move. . . . It’s in an early corrective stage, and it’s going to be epic moving forward. The same thing has happened for gold.” Mannarino points out the stunning move in gold over the last three months as proof of a gold breakout.
Mannarino thinks it will be especially bad for people not awake or prepared. Mannarino says, “This is going to get a lot worse. On an individual level, we have to understand what we have to do for ourselves and our families to get through this. No matter what is happening on the political front, there is no stopping what is coming. . . . We’re going back to a two-tier society. We are seeing it happen. The middle class is being systematically destroyed. We are going to have a feudal system of the haves and the have nots. People walking around blindly thinking it’s going to be okay are going to suffer the worst.”
Mannarino’s advice is to “Bet against this debt and that means hold hard assets; also, become your own central bank. Their system has already failed and it’s coming apart.”
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.