SGM Precious Metals: Massive Wealth Wipeout Maybe Coming Sooner Than You Think

PALM BEACH GARDENS, Fla. - Oct. 14, 2013 - PRLog -- King World News KWN.com reports: [ With continued volatility in global markets, today a 60-year market veteran told King World News that “the US is bankrupt & it will collapse.” KWN takes this man’s warning very seriously because, incredibly, his father tried the major cases as a lawyer over 100 yrs ago which formed the basis for US bankruptcy laws. Ron Rosen, who has been at this business for six decades, also spoke about what all of this means for the stock market as well as gold & silver.

Rosen:“The Dow & the S&P are in the process of collapsing. These averages are going to plunge all the way back to their 1982 trend lines. This means we will see the S&P 500 fall all the way down to roughly the 600 level, which represents a nearly 65 % decline.

This is going to be a massive wipeout.....

“It will be far worse than the declines that took place after 1965, including the 1973 to 1974 crash. This will be the worst decline since the 1930s. It should be noted that this will also wipe out the entire tech bubble going all the way back to 1995.

For those that are worried about gold and silver they need to understand that this is the time period when the metals will be making a massive move to the upside. This will be a big-time move for gold & silver. This is a duplication of what occurred in the 1970s.

In fact, it’s almost identical to what we saw in the 1970s, except that it will be far more exciting for precious metals investors & far more devastating for stock market investors. The gold rally will be substantially greater than the 1970s. We are in for one hell of a move in gold & silver over the next 6-8 months.

The decline in stocks will really begin to accelerate when the S&P breaks the 1600 level. This will scare the hell out of everybody. After the breaking below that key level, the S&P will rally back up to test 1600 & then the real disaster will take place.

This collapse in stocks is going to wipe people out, but at the same time you will be seeing this huge surge in the precious metals. We are going to see the biggest move in gold, silver & the mining shares, that we have seen during this entire bull market & it’s starting right now.

There are increasing ‘angles of rise’ in gold, silver & the HUI (Gold Bugs Index) & the angle of the rise has accelerated with each bull move. The next ‘angle of rise’ will be the sharpest we have seen so far & the HUI should get close to 1,000 on this pulse.

For what it’s worth, the debt ceiling debate doesn’t mean anything in this country. The United States is bankrupt.

Now, the US has the right to print money so we are not going to declare bankruptcy -- instead, the market will do it for us. So this nation is bankrupt & we are going to pay the bill that every bankrupt nation has to pay, which is to liquidate their assets & see what the hell you’ve got left & that’s exactly what the US will be forced into doing. This process will be extremely painful & investors must protect themselves from the coming chaos.” ]

The US is bankrupt & the market will pull the rug out from underneath us in a moment of shock & awe that would make Bush Jr. proud. The ugly truth here is that the US political machine in conjunction with the federal reserve believe that, like every time over the past 5 decades when we reached a financial crisis of their creation, they could operate their funny money printing press with impunity & the world will play along. This is the great lie that will ultimately bring about our monetary systems undoing as the world is no longer beholden to the FED & the US dollar.

Post WWII Europe was in need to a complete rebuilding & the fed stepped up as the financial savior. They worked it so these nations could use the USD as an international currency to secure the rebuilding commodities for their infrastructure. This laid the ground work for the abusive nature of the feds monetary policies moving forward as there was an arrogance that the world owed the US their lives & therefor the central bank of the world could abuse the system to their advantage from time to time & the world would go along.

Clinton’s Pandora’s box of deindustrializing America sealed our fate as we shifted from the world greatest manufacturing economy which permitted us to be the greatest creditor nation to a hollowed out shell of empty factories that left our shores in search of cheaper slave labor of the third world. Gutting our manufacturing sector that employed upwards of the 50% of the nation at one point shifted us to the worlds greatest debtor nation within a 1/2 century. What an amazingly tragic fall from grace we have witnessed but it has all been hidden by the media who diligently read their prepared scripts that redirect our attention to gay marriage, abortion, race issues & the ridiculous govt shutdown that have only served to divide the once great nation into groups & subgroups in order to keep us from speaking to our neighbors.

The Fed just told the world the $100 TRILLION in new money over the past 5 years has failed to stabilize our economy & the fed can't reverse course & begin to taper off the corporate welfare the banks. This has shaken the world tremendously & preparations for the consequences have begun in earnest. This has been followed by the political stupidity in DC over the debt ceiling & Obamacare. The world is becoming increasingly insecure with the US’s childish behavior at such a desperate time. At the worst it could bring about an actual default that would bring a dollar panic like the world has never seen. And when you see the US banks adding 50% extra cash to ATM machines in expectation of panicked cash runs things begin to become more clear, something wicked this way comes.

Never mind what the bankers are doing to distract the public from the wicked something that is coming our way. This includes a magical DOW 15,000 bubble for no apparent reason, the bond market held together with bubble gum for now, the manipulated inflation data & of course the completely fabricated employment data. These are all spun out of fantasy in order to keep the herd calm while the bankers are quietly making their endgame shift towards the precious metals for the wealth preservation qualities as that will be the only thing of interest when the paper assets start to fold up. Never have there been this much stupidity in the political body nor this much hubris in the federal reserve controlled banking system. This volatile combination of egos will bring about massive change that will hurt many if not protected by gold & silver bullion. The DOW has made magical record high after magical record high while the economy is on life support . . . . . admit to yourself that you need a means to protect that which you have worked your whole life to amass.