In his latest market update, Greg Mannarino states that the market pop in the wake of the 2 month fiscal cliff agreement is merely a relief rally that has no real legs.  He points out that the agreement does absolutely nothing to address spending.
Mannarino states that the Fed’s $85 billion in monthly counterfeitting to monetize the US budget deficit will steal purchasing power from Americans.   Mannarino states that the US ratings agencies will face massive pressure to downgrade the US in 2013, which will result in the busting of the US debt bubble will burst in 2013, and force massive amounts of cash into commodities and physical precious metals.
Cash is going out of style, buy phyzz!

Full update below:

Silver Bullet Silver Shield Slave Queen Medallion Only $2.99 Over Spot at!!

Slave The Queen




SD Bullion


    • Silver and gold and other commodities are going to be manipulated down to prop up the US dollar as long as possible. So a credit downgrade could break the back of the cartel.

  1. What Greg Marinara(I am not a fan) forgets with his spaghetti sauce brain of his is that we are in a new paradigm of global currency failure and that currency strength is all relative.  Rating agency downgrades are becoming meaningless.  What matters is how do you compare to the other guys.  Lets see….Italy and Spain are in horrific trouble.  France is soon to blow-up.  Japan just announced their own QE to Infinity.  U.S. dollar doesn’t look so bad considering the U.S. has 12 carrier battle groups that say our money is good.  Or would you rather be paid in cruise missiles.  
    All this liquidity has to go somewhere and will continue to prop up our markets.  The only real yardstick to measure currencies against is gold.  And in terms of gold, all currencies are being debased.  Fed is there to buy the T-Bills.  That’s the advantage of being the global reserve currency with a global military force.  It gives you privileges that other counties don’t have.

    • America losing its credit score on its debt is a little more important of a downgrade than say Spain, Greece or even France because those are somewhat expected. The problem is when you drop credit scores you pay higher interest on giant amounts of national debt. The problem is, and obviously shows that you may have not really looked or read very much into Greg’s stuff, is once we lose the petrodollar to prop up the dollar system itself we are going to see inflation that will shock people.
      If you have been paying attention to the trade and currency agreements between our own allies and china such as Germany, Australia, Japan. They are all bypassing the dollar and if you think we can keep the reserve currency I think you will be quickly surprised. For now the petrodollar and reserve status are in tact but are being torn down each month more and more. You can start to see America’s fading hegemony with Syria and Iran and how China and Russia are blocking our plans to keep propping up the petrodollar.
      We are all in a fiat dump and print to the bottom and should all be buying physical gold and silver and hard assets like food or guns.

  2. Greggory Mannorino tried without success to improve his acceptance in the metals bloggosphere by cutting his hair.  Didn’t work, he is as ugly as ever.   He wants to be rock star.  No way.  He is guessing about what will happen.  Right now, the timing is what is important.  He is just repeating the facts that we all already know and then predicting gloom and doom.  He wastes our time.  He has no unique contacts.   I would rather hear Doc’s opinions than Mannorrino’s stale blathering.  We all know that the bond market is in a bubble.  If we knew when it would pop we would all be rich and famous like the Doc.  2013 could be another 2012, except even more boring.  I am more worried about 2014.  Poop will fly as a much higher probability in 2014.

    • Nice post.  He is a total idiot.  He is a physician assistant and he isn’t even in finance.  He has absolutely no credibility.  The guy literally makes shit up.  I really wish silverdoctors would reconsider posting his garbage.  He is now pushing ETF’s and stock picks.  Amazing that people take this moron seriously. 

    • “That’s the advantage of being the global reserve currency with a global military force.  It gives you privileges that other counties don’t have.”
      Indeed so… and it works until it does not.  Just ask our Brit friends.

  3. Snippet from Pollokeeper’s linkey:
    Greyerz had this to say regarding gold and silver: “Looking at gold, I was expecting a bottom for gold in the last week of December. This has now happened in my view. We’ve seen the bottom, and I now see the rise starting. Interestingly, my friend Alf Field now confirms that the bottom is in. He is still looking for this move to take gold to $4,500 and silver to $150.
    – –  – –  –  –  –
    But first we have to move in a sustained upwards direction to get to $4,500 & $150.  Meanwhile, Gold bottomed out at $1,662 this afternoon.  But no worries – we are still above the December low of $1,650, so technically Greyerz is correct in stating the bottom is in.

  4. With the Fed’s announcement today that they are now worried about the side effects of “QE Infinity” on the financial markets it was a great time for the cartel to raid gold and silver and they did just that. Gold got smashed down about $22 bucks and silver down about $.85 cents. Yeah, I’d say the Fed pulled the rug out from under us once again. 

  5. Has anyone else noticed the “Naysayer” postings on this site as of late, (you know who you are)? Sure seems like an “OP” to me….anyone else? Started about a month ago out of the blue……(conspiracy).
    Greg was right on the money here by saying this run up “has no legs”….obviously he was spot on! These few rabble rousers who have come here as of recent will have no effect on this stacker I will tell you.
    You are either with the stackers…….or you are with the banksters!

Leave a Reply