Gregory Mannarino – System Already Failed & Coming Apart
by Greg Hunter
USA Watchdog
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.”