Following a long list of financial insiders, industry experts, traders and forecasters, Jeff Berwick of The Dollar Vigilante joins Greg Hunter at USA Watchdog where he tells Hunter the market crashes we have been seeing are just the beginning, the "pre-shocks," and the "big crash is coming," which he describes as "massive economic destruction."
Berwick also asserts that what we witnessing today in the global economy is "looking bad and it is going to get worse," and that he sees "nothing but black swans ahead."
The black swan theory or theory of black swan events is a metaphor that describes an event that comes as a surprise, has a major effect, and is often inappropriately rationalized after the fact with the benefit of hindsight.
Berwick starts off his appearance speaking about the seven year Shemitah cycle, not looking at it from a religious point of view as he explains he isn't a religious follower although recent events have caused him to pick up a bible again and take note of things he hadn't previously, but as to the Shemitah cycle he asserts that simply looking at history, market crashes and following trends and patterns, it is noteworthy and he explains why.
Hunter begins his introduction by explaining that Berwick was one of the few experts that predicted in 2012 that we would be seeing zero interest rates, to which he was mocked and generally ignored.... yet here we are today at zero interest rates.
Jumping right into what he sees coming, Berwick points to some major "crashes" that occurred over the last weeks and months, highlighting China and Greece but asserting that 20 other economies are in the midst of crashing saying we are headed "toward something that is going to be much, much worse."
Other points made in the interview below deal with events happening in September including, but not limited to;
Jade Helm supposedly ending on September 15th and asks if it really is an exercise to prepare for civil unrest.
The Federal Reserve meeting slated for September 15-17 and whether they will hike interest rates to which Berwick states "any raise could destroy the entire system."
On gold, Berwick thinks, “Just in the last few weeks, I have noticed a change. When the markets have been crashing, gold has hung in very well, and even gold stocks have started to bounce. That is unusual because that didn’t happen the last few times. It is actually getting very hard to buy physical gold or silver anywhere in the world. You definitely can’t buy it at its current spot price. A lot of them are selling it at multiples of the current price. The physical price of gold and silver is totally diverging from what they say the price is on the futures market. I think this divergence is only going to widen. If they do go to QE4, we are going to see gold skyrocket. It is looking very good for precious metals and very bad for the stock market. If the stock market does rise, it will only be because of massive money printing that will cause massive economic destruction.”
The wild card is the war card, and on that, Berwick says, “There is a lot of calamity out there, and it is not just in the financial markets. Look at military around the world and wars. The U.S. is all over the world right now trying to start wars everywhere, including in the Ukraine and Syria. There is saber rattling in China, and now with Russia as well. If they continue to attack Syria, of course, Iran has a pact with Syria they will get involved. China and Russia has said if Iran is attacked, they are getting involved. I see nothing but black swans ahead. So, to be in the market on the long side is insane to me at this moment.”
Berwick states that whether a total crash happens in September, next year or even a couple years, the "collapse has started."