Gigantic Wealth Transfer Coming – Gregory Mannarino
Gigantic Wealth Transfer Coming – Gregory Mannarino by Greg Hunter for USA Watchdog
The IMF calls Deutsche Bank (DB) the most “systemically dangerous” financial instruction in the world. So, when a major announcement about DB cutting stock trading around the world happens over the weekend, some think danger is popping up in the global financial sector again. Greg Mannarino, founder of TradersChoice.net, thinks this announcement could be a “trigger” for another financial calamity. Mannarino explains, “There is a breaking news story in regard to Deutsche Bank (DB) pulling out of their global equities, sales and trading. To me, in this environment right now, this is tremendous. . . . Why would any investment bank be pulling out of the global equity market . . . in an environment where every central bank and every single world leader is doing the same thing? They are calling for currency devaluation, calling for suppressed interest rates, price controls, and all of this is going to force cash into the markets. The fact that DB is saying hold on a minute, we are getting out, that should raise alarm bells. . . . Markets are at all-time record highs. You’ve got to put this together. Why would DB be doing this unless they believe we are at a top here. . . . Can you imagine the amount of trading that will be lost when DB says we are not going to be buying or selling global equities? I am not saying the markets are going to sell off next week, but if people are not looking at this as a possible red flag, and I mean a big one, then they are missing the big picture here.”
Mannarino thinks the next market correction will be a big one, and the Fed stopped the last market freefall in 2008. Mannarino explains, “We do know that the Fed stepped in and stopped the last market meltdown at 6,000. Was that the bottom, was it Dow 3,000 or was it Dow 2,000? All we know is we get this environment where we get larger and larger swings here. Is DB telling us this is a market top? Maybe they are. I do know the greater the high, the greater the fall. I would not be surprised in a total market meltdown to drop below 6,000 (Dow). You don’t know where the real bottom is.”
After the Interview:
All information and trading advice is totally free on TradersChoice.net.