At the time I am writing this article, the stock market is remaining in a free fall with the Dow Jones industrial average down more than 240 points.
The financial sector, the banks are being especially hit hard with Morgan Stanley down more than 5%, Goldman Sachs down more than 4%, and J.P. Morgan down 3%
Gold is surging higher, Silver is also higher, cash is surging into the perceived safety of Bonds, and the US dollar continues it's hard sell off.
I find the price action with regard to the banks selling off along with the dollar especially disturbing in this environment, and this is something we need to pay attention to again-echoes of the 2008 melt down.
It is my opinion that the middle class is about to receive a full and complete shearing as the inflated housing market, and stock market correct to fair value.
Is this the beginning of yet another engineered melt down?
What's your opinion?
Gregory Mannarino
Another great dose of honesty. Your on a very short list of people I depend on for reliable information. Thanks, Greg
Thank you for saying this.
Knowledge is power!!!!
👍
I have paid thousands for services and never made money. With Greg I've done much better and I also understand the markets much better than all those years of paid services. And to think Greg does this out of the goodness of his heart.
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following category:
I think we should start running for the hills now while we still have a chance. lol. honestly the U.S. needs an entire economic reform and revive because were headed directly for a point of no return. its so sad to see our beautiful country go down the drain due to a lack of responsibility, duty, honor, respect, moral values, corruption, hate, greed, and political warfare. The trump factor just makes everything worse.
The globalists and their liberal media stooges are trying so hard to get President Trump tied up in phony scandals so that his pro America, pro growth agenda does not go forward.
But trump is very brilliant almost on a genious level. I wouldnt exactly underestimate him and what he can do.
I'm beginning to question whether or not he is a good guy or bad guy. At the core of the globalist agenda is keeping us guessing and totally stressed out 24/7. They're doing a good job.
The liberals hate him..
The globalists hate him..
That means Trump is a good guy !
I think that remains to be seen; in my house, we think he might be here just for the last pump n dump
I pray its not all an act
I'm no Hillary fan but let's not forget he was a choice that was "given" to us.
Like you I have this question having supported him by following everything he did and watching the Clintons as well. I really have to say here from overseas our national TV isn't reporting what I see coming from the White House having seen bits and pieces of what Mr Trump and his team are trying to do.No doubt every president has made suggestions to their law enforcement agencies and this doesn't influence the economy just look at the British Government and House of Cards scenario and Yes Minister it is very close to the truth. Obscuring the truth is what the swamp wantsand they DON'T Want to leave the SWAMP.
Thanks for posting! Unfortunately the Swamp looks as though it may stay in control and is basically running many countries not just the US.
I'd also not underestimate what the elites can do either.....Is impeachment coming?
lol. crap. i think so.
He's the right person for this job, no nonsense, well meaning, tough , good negotiator and know's how to handle bankruptcies.
No need to run for the hills yet. This is just a test run to see how or if people keep buying into this program. My best guess is we are still buying into their programing. Ouch.
Yes, go to the hills. But there is no need to run. Just prepare yourself, take a long breath, and start just walking. For the last 4 or 5 years I found the company of Gregs: Greg Hunter and Gregory Mannarino. Since then, I'm preparing. Things are getting worst ( I'm unemployed now) but "The Big One" still doesn't happen and I believe it would take some time. Lots of triggers happened, as stated by Michael Maloney ( Everything Bubble), so it is still some hope. I hope!!!
I think we're past the point of no return and the big rig is coasting uphill on momentum.
Thank you Greg...you turned me onto Steemit!
Pretty awesome, Greg has not made me rich, but he has helped me make more money than any other person or system out there... and his mentoring is free.
Me too. Greg is ahead of the game. Steemit is awesome. I'm totally done with Facebook.
Me too actually..
I never joined! did not like the business model- rifling my info for their profits
Some possible explanations that may be catalysts for the market move:
Peter Boockvar sees shifts in the monetary policy as the main drivers.
German ZEW index which measures German investor confidence in the German economy rose to 20.6. ...since August 2015...The prospects for the eurozone as a whole are gradually improving...EU Trade Surplus...
Whole Article:
http://kingworldnews.com/here-is-what-is-pushing-the-gold-silver-markets-higher-today/
Looks like the confidence in the dollar is dipping:
Jason Goepfert at SentimenTrader: People are starting to give up on the idea of a strong dollar.
Not coincidentally, that’s also about when web searches for a “strong dollar” were reaching a fever pitch.
Whole Article:
http://kingworldnews.com/look-at-whats-going-on-with-the-dollar-and-how-it-will-impact-gold-silver/
China is mentioned again to create a new Global Monetary System.
I belive it is. Eventually there will not be a middle class. All the mainstreem is blaming it on trump. I say let it fall and where it lands it lands. Thanks for the info and your daily hard work. We all appreciate the info.
Thank you.
What i cant belive is how silver is just hovering around its open price. This should be way up with whats going on
Beautiful !
The paper to physical ratio right now for silver is a whopping 517:1 !!
https://srsroccoreport.com/paper-vs-physical-the-amazing-amount-of-leverage-in-the-silver-market/
Gold moved up nicely today while Silver was taken to the woodshed twice. look at that Globex open totally insane. Clubbed like a Saskatchewan baby seal. What a rigged joke...
Yeah, I think it was Bill Holter who said silver was the line in the sand, when it goes, that's it. They'll do anything they can to keep that from happening.
I agree!!!
Agreed but as we all know, silver is manipulated and such will not move unless they make it move!!!
They will eventually loose there hold on silver and at that point you will be in for a treat
Interesting pattern today which started developing since yesterday evening actually. Stocks have broken the support and gold and silver have broken the resistance. Dollar continues to drift lower. I have written a couple of blogs on these topics since yesterday in an attempt to wake up a few people who can be woken up, please do check it out and comment.
Food for thought from a writer for Activist Post.
Cyber Attacks Are The Perfect Trigger For A Stock Market Crash
Brandon Smith | Activist Post
May 17, 2017
http://www.activistpost.com/2017/05/cyber-attacks-perfect-trigger-stock-market-crash.html
It should be noted that the Ransomware attacks which struck systems around the world used “WannaCrypt,” derived from an NSA exploit called “Eternalblue.” This program was designed to specifically target Microsoft Windows machines, no doubt using vulnerabilities which Microsoft ENGINEERED into their own software.
Something else that is very interesting about Eternalblue — as CNN notes, similar exploits were used not long ago by the NSA to get backdoor access to financial data within the SWIFT banking system.
This begs the question — how much of the global banking system and global stock exchanges are open to attack with these same NSA exploits. I would suggest that ALL of them are.
Didn't a market analyst on YouTube say that the system would go kaput by June? I can't remember who it was though...
DOW -310
Yep I go into the next step of the process right here in this post https://steemit.com/politics/@sinned/why-should-you-stay-neutral-quote-for-the-times
Every time we see the indicators turn downward hard, we see a stop to breathe and an influx of liquidity from (in my opinion) mysterious forces to pull us back to perceived stability. If today is the day the dam breaks so be it but I am exhausted with predicting today being the day...
Great post thx. The middle class will be trapped by negative equity in their mortgages and enslaved by the banks. In Northern Ireland after the last crash two out of every five households bought after 200t was in neg equity. What will happen this time....
How much is the bank run in Canada due to 'Home Capital' crash going on right now affecting the US market Greg ?
I don't want to be on the fleeced side this time...thanks for sharing your experience with us.
It needs to come down! Until this happens, no one in mass is really safe.
Like storm clouds over your head and wondering , when is it going to rain ?
Relax.. we got this. Hold my BEER!
LOL !
Thank you for the updates and what you think of this situation Greg. You don't hear this anywhere else. The globalist/elites are probably trapped animals right now and they wouldn't hesitate to destroy everything. The media, democrats and republicans hate Trump. He must be doing something right or something they do not want. Hence the constant "scandals"
It all depends if the globalists have divested their stakes to the retail investor and put their shorts in place. The only way the system will come down is if the banksters can profit from it, then they may let it happen.
Greg: There is no way to really know in a world where nothing is real and everything is manipulated from the money to the weather. You just have to be prepared and try to enjoy every day. There is a power higher than the globalists. Keep the faith and keep doing what you do to inform people. Thanks.
You have a good point there. It's great that analysts warn us and help us prepare for the collapse but it happens when it happens...lets just try and enjoy life a little too!!!
Hello! I actually am surprised the system is still running. I envisioned picking up the pieces 2 or 3 years ago. You have to hand it to those central bankers and their computers! Enjoy life but remember its better to prepare 10 years early than be a minute too late. That being said have some fun this weekend. Maybe even play some pinball!
Pinball? ...I wish...more decorating I'm afraid. Trying to get the baby's room finished so she longer has to sleep in with us!!!!
Im not sure about the absolute downfall of the system just yet. I believe this is the start of the turmoil in the political structure. With the recent downfall of Comey and the call of Trump impeachment. I think the turmoil from these will rock the market short term and cause a recent uptick in the PM market that they will get back under control. I think this might be the start of some real truth bombs and the start of the unwinding, which will quicken over summer.
It's a bit confusing to me at times. On one hand I know they're trying to bring about the fall of the dollar and the birth of a new world currency, probably the SDR, and eventually a one world government.
It seems to me, that most governments are in line with this ideal. China is going to great lengths to create a totalitarian Big Brother state, and setting an example to the world.
But it seems there are 2 sides fighting, and I can't tell who's winning, and what the goals are of the second side (the side that supported Trump, like Kissinger, etc.)
So, is this drop really their doing? Or are people losing confidence in the system, or simply spooked?
Trump is definitely not on our side -- look at him now attacking WikiLeaks, whom he praised during the campaign.
I'd like to think both sides are losing their grip on the narrative and people are starting to lose confidence, and that soon, their sham will get unveiled worldwide, so we can rebuild.
It's all one big head F***. I don't know what to believe anymore....
I hear ya. All I'm trying to do is preserve as much wealth as I can for the future. If you look at history, the world's reserve currency has changed every so often, assets go in business cycles, and things are overpriced and overvalued.
Who knows what other lies and what other mechanisms the people in power will resort to, to keep their power.
I find it best to understand as much as I can about what they've done so far, and pay down all my debt, and set money aside in things I think will hold their value, or at least not lose as much value as the dollar.
No one knows when confidence will be lost. The best thing I can do in the meantime is prepare as best I can. Invest in stores of value, establish or join a self-supporting community (people helping each other). Argentina, Brazil, Zimbabwe, Weimar, Germany - they all made it through. Just being aware of a situation can be enough to see you through it.
It's important to not let the bad news make you scared. It's important to focus on the positive things and the things that make life worth living.
Venezuela is going through a rough time, and many people have fled. But people are still alive, and one day the dictator will fall.
We are too unruly a bunch to stay down forever.
Nicely put my friend!
You can almost hear the illuminist masonic central banker elite shushing the population into sleep via corrupted state officials and owned mainstream media while quietly administering the lethal injection at the base of our skull.
For those of you that haven't seen it, check out Dylan Ratigans rant a while back. Very rare gem on controlled media!
You can only buy a journalist until you threaten to permanently screw up the lives of his children too.
For those of you who want to keep tight track of the political actions of the deep state system we suffer under shadow oligarchy, follow my blog. I now have more than 20 years of study of these bastards on my back and I am generous!
Greg,
Appreciate your analysis as always, but please consider that the USD is currently heading into its Yearly Cycle Low. On the daily we're below the bottom bollinger band, and we know what that means.....I think we're going to see a jolt higher in the dollar and a jolt lower in commodities. Gold and especially Silver probably would not rally initially in a market meltdown.....and capital would seek safe haven in the USD. Just my opinions good sir.
I don't know Greg. I feel like I would be guessing. I have become so suspect of everything these days. We have many days in the market where things should have sold off and they didn't. Now all of a sudden we are getting signals that it is finally going to happen. Maybe, but what if the Fed comes out and jawbones that raising rates in June looks like a "no go". Then what happens? Boom! to the moon again.
Yes, I think so, too. It's engineered and inevitable at this point. I'm glad I bought more silver when it was on sale. Also glad we have a garden. If this is what we need to happen to cause people to wake up to what is really going on here, then bring it on. It'll get chaotic, but in the end positive change will prevail.
For some time it has been a war on the middle class. If you were poor you could not move up to the middle class. They kept you down. I hoped Trump would help protect the middle class. I find the only way to combat the war is to buy silver and gold or come from a family of only children and inherit. You should not have to give up having children to stay in the middle class, but I do not know any other warfare.
This is probably all part of Agenda 21 population control...make life too expensive to have Kids!!!
I think you are on to something. I know in our family we have many only children including my mother and myself. It is a shame that one must forfeit children for financial stability in the lower middle class financial world. It all went to hell after the baby boomers. They were the last great generation.
Yep the whole system is wrong. Lets take going to University...People come out with astronomical debts and a lot then never get a decent job. But that doesn't matter....the facilitators of credit still want their made up money paying back. With debts like this how can one support a large family when they can't support themselves!!!
It is rigged against you. I went to Coe College, Cedar Rapids, IA. I did not have debt as some folks do. However I had a mind full of socialist liberal mind set. Professors teach you to be socialists and discourage any sort of freedom based capitalism. So the idea of owing debt from a college or university would fit into their socialist program mind control. Most of my friends now are socialists. I have no children and yet wanted a family. It is not fair. It goes against the Bible too. We are supposed to be fruitful and multiply. They have you on all levels. In 2008 we had a bail out of the banks. The laws are written today to have a bail in. Every deposit you make to a bank becomes the banks. You are a creditor to the debts of the bank. And when the crap hits, the banks will receive their money and yours long before you will ever see your own money. That is why I believe in silver and gold that I hold in my hand. It is not digital and you have it. If you cannot hold it you do not own it.
OMG. Was just trying to tell some people this same message but to my disbelief lol they didn't hear it from me. Maybe you can enlighten them Gregory. Love you and you work to try to help the people
Greg, I'm upvoting all your posts and upvoting everyone who leaves a comment, this is how we win!!!!
Greg, I'm a supporter of yours but no way the Federal Reserves PPT will allow markets to crash. Not going to happen. Everything has basically been nationalized by the Fed. Until they are audited, their financial wizardry will continue and be accepted by the mainstream.
At one point the PPT will let it drop, It how they fleece the middle class. It is a cycle that repeats, over, and over again.
Not this time Greg. The Fed works for the wealthy .01%. You know this. They have the most to lose. No way in hell the wealthy elites will let their asset prices drop.
They will short all this, just like I do. The wealth that will be gained from shorting this market for some, the .01% will be staggering.
The PPT and ESF are there to prop everything up as a matter of national security Greg. They won't let it go down without a fight. If everything we're to crash, you would see millions of desperate people marching on DC to overthrow the government. Not going to happen. Google "the bonus army".. that's the closest thing to an overthrow this country has seen during the great depression.
In a meltdown people will be desperate and very easy to control. This wealth transfer is going to happen. Is this the start? Time will tell.
In order for this correction to kick off, much of it will happen over night. This is a false flag attack of sorts, desensitizing us to market changes with bad news. As the news is about to get a whole lot worse. People will say "this is the one" so many times, people will ignore them, like your buddy above. When it does happen, it will be outside of the retail investors reach, and it will be swift.
I expect QE4 before any crash happens.
Greg I agree....whether or not this is a start remains to be seen. I think we still have a ways to go yet
The PPT and ESF were created by the elite and work for them.
Well I think it's long overdue for a correction. That being said I hope it's not as bad as what I can imagine. There is so many houses for sale where I live and so many people are talking tough times. As a matter of fact the big talk around the office is a coming war and tough times. Which is strange because the people I work with are very much Sheep! DR
The plunge protection teem will see to this down turn. Will the banks just collapse already.
The middle class & those all those who haven't protected themselves.
I'm enjoying this spectacle, popcorn in hand. I'll be grinning ear to ear watching the DJI slide :D
We known it was coming and have been trying to prepare...
I feel if a crash was to happen now, its still obamas results to blame. To soon to blame trump, as nothing has really changed yet.
Do you still feel the need to assign blame? The blame will be on the people who have stood to the side and let the government run amuck for decades...
Those who are to blame will not be held accountable for their actions just like in the past. They will use trump as an excuse for what will come in my opinion
I don't think that this will be the one Greg. They can knock the interest rate back down or go negative with it. They could start running the printing presses even heavier than they are now. Lots of variables that we can't account for. I don't think there is enough people who have lost faith in the currency yet. Another QE might shake some more people off it though. Thx for the work you do.
Will the PPT come out and play?
I can't wait for this markets to align with the truth of the global bs. I am itching for my confirmation to short the overall markets, stack physical and go long miners.
Relax the market is only Down what 1,5%?
Physical PMs all day every day.
I'm speculating that the controllers may use impeachment proceedings against Trump as a cover for taking down share prices.
RED ALERT: Attempted political coup now taking place in D.C. with effort to impeach Trump for fabricated “obstruction of justice”
Mike Adams | Natural News
May 17, 2017
http://www.naturalnews.com/2017-05-17-red-alert-attempted-political-coup-now-taking-place-in-d-c-with-effort-to-impeach-trump-for-fabricated-obstruction-of-justice.html
To melt or not to melt that is question .
Greg you and I know an adjustment is over due but with all things over due will there be panic and over adjust downwards , I believe this could be the case
I remember 2008. Bought a condo conversion in LV for $225K and short sold it for $85K not2 years later. Thanks for your insights. Keep preaching!
How did you do this?
James Turk renewed his call on a short squeeze in gold and silver. If it happens it will accelerate the speed of the falling dollar dramatic i think. Interesting times now.
http://kingworldnews.com/james-turk-we-may-now-be-in-the-early-stages-of-a-massive-short-squeeze-in-the-gold-market/
Gregory there are to many suckers out there yet for the market to go down more than 20 percent. This drop will be a record number of people getting in the market for one last final blow off top that will kill most.
I agree Greg. The sheeple are in for a rude awakening!
Thank you for your market reports. I listen to your reports a lot, can´t get this good mix of financial info anywhere else.
I hope it stays in limbo a little longer, but this year has been a tsunami of chaos, and I don't think we'll make it to 2018 with out a lot of finical drownings.
Hi Greg , When does the middle class not get a shearing ? With out the middle class there will be nothing...
Agreed