Fed will be Forced to Punish the Dollar-Gregory Mannarino

by Greg Hunter, USAWatchdog Trader and financial analyst Gregory Mannarino says, “I think things are looking very bad in the immediate future here. Just this month, the ECB is going to start their Japan style quantitative easing, and that is going to make the U.S. equity market look a little less desirable . . . . I think we are going to see some cash leave the U.S. stock market.” Mannarino goes on to say, “What’s even scarier . . . I think these games we have seen in the dollar could take off parabolic from here, and that is not good. . . . The digits cannot keep up with how fast the Federal Reserve is printing cash out of thin air, right at this moment, to try to combat this deflationary environment. . . . The Federal Reserve did not see this dollar strength coming and how it would affect Wall Street. You can expect the Federal Reserve to be forced to act to punish the dollar at some point, and that is going to hurt the Federal Reserve’s credibility. . . . When a world central bank becomes so desperate that it has to engage in this type of behavior, you know things are very, very bad.” Mannarino points out a recent comment by a former Fed Chief that back up his claim the global economy is in deep trouble. Mannarino says, “Even Alan Greenspan came out last week talking about how the global economy is extraordinarily weak, despite what we are hearing from the mainstream media that everything is good, and that they got everything under control. The fact of the matter is this, nothing is real. . . . Central banks are taking the debt and manipulating it, and it distorts every asset class across the spectrum. So, there are no price discovery mechanisms anywhere. There is going to be a terrible price to pay for this.” Mannarino goes on to say, “This is not just a financial problem. This is a resource issue, and when this debt bubble bursts, basic necessities that people need to sustain their lives are not going to be available. This is a resource issue on a global scale. This entire fake system will continue to fall apart, and it is falling apart right in front of our eyes. People are going to be rioting in the streets of every nation on earth when this comes apart. There is no doubt about it, and there is no way out of it.” Continue Reading>>>

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