Today Michael Oliver, the man who is well known for his deadly accurate forecasts on stocks, bonds, and major markets, warned King World News that this global collapse is going to be far worse than 2008-’09.
May 3 (King World News) – Eric King: “This environment is like the 1970s, but a Frankenstein version that’s much more dangerous, much more terrifying if you are trying to protect your wealth. You know how terminally ill this financial system is and yet you are trying to read the charts, but what about the fact that people could just wake up one day and their savings of a lifetime could be gone in the blink of an eye?”
Michael Olive, founder of MSA Research: “That’s definitely the potential. You’ve got to remember that the context here is we have the biggest paper asset bubble in US stock market history. There’s no bull market that went from a bear low to a bull high that was as old as this one and of the dimensions in percentage terms as this one. And when you look at an M2 chart or a Fed funds chart you can understand why it occurred.
I think we are looking at something very dramatic. I don’t know what the downside on the NASDAQ and the S&P will be, although once it occurs it will be very painful. Forget the market itself, the peripheral reality of the day-to-day life of people in corporations will be so negative that, no, it’s not going to be like 2008 and 2009 like a lot of people are predicting. We argue it’s going to much worse. But as…to continue listening to Michael Oliver discuss the looming stock market collapse as well as what this will mean for major markets including gold CLICK HERE OR ON THE IMAGE BELOW.
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***To listen to Alasdair Macleod discuss the key for the next major move in the gold market CLICK HERE OR ON THE IMAGE BELOW.
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