With stocks still struggling and gold surging nearly $30 at one point in today’s trading session, dire conditions are now spreading across the globe.
Here is a portion of today’s note from Art Cashin: Overnight And Overseas – Crude is under pressure again. The fear of a British “Brexit” is pounding both the Sterling and the Euro. Trump’s solid showing in Nevada gives his candidacy new credibility. China guides its currency a bit lower again.
With those things as backdrop, most equity markets are getting hit. Japan, Hong Kong and India closed lower while Shanghai eked out a modest gain. European markets are getting whacked with Germany down the equivalent of 400 Dow points.
The flight to safety is in fully swing with folks buying the yen, the dollar, Treasury bonds and even gold.
Consensus – Oil remains at center stage and may exert even more influence if it moves below $30. A close in the S&P below 1917 may do some damage to the charts. Stick with the drill – stay, wary, alert and very, very nimble.
Gerald Celente’s Warning…
Gerald Celente: As we thoroughly detailed in our Winter Trends Journal, equity-market turmoil is a direct reflection of dire economic conditions spreading across the globe. And now, even among mainstream-media business pundits, there is growing acknowledgement of what we had long forecast: Central banks are running out of monetary ammunition…
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Neither new rounds of quantitative easing nor negative interest-rate policies will stop/reverse the economic decline or stabilize equity markets.
Trendpost: Fed minutes proved the Federal Reserve was blindsided by the Panic of ’08. Are they stupid, or playing stupid by not seeing the Panic of 2016?
Gold’s Rise Continues
With the dire conditions Celente mentioned spreading across the globe, gold has continued its upside thrust by punching through the $1,250 level at one point in today’s trading. In the midst of the global turmoil, it appears that the Metal of Kings is once again asserting itself as the world’s #1 currency.
***KWN has now released the extraordinary audio interview with Dr. Marc Faber, where he discusses the greatest threat to the world, his stunning predictions for the rest of 2016, gold, and what investors can do with their money right now, and you can access it by CLICKING HERE OR ON THE IMAGE BELOW.
Also, the long awaited audio interview with London metals trader Andrew Maguire has now been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO RELEASED: Things Are Continuing To Deteriorate In The Real World At An Alarming Rate CLICK HERE.
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