Today King World News interviewed a 60-year market veteran who made some absolutely frightening predictions as we head into the end of 2014. He discussed what to expect in the major markets, including stocks and gold, and he warned that despite the propaganda and recent stock market action, the West is literally “destroying” itself. Below is six-decade market veteran Ron Rosen’s remarkable interview.
Eric King: “Ron, I always found it interesting that you are just a few years younger than Richard Russell, who is now 90, you grew up in the same neighborhood as Russell, you both fought in wars, and you have the exact same initials (R.L.R.). Also, like Russell, you have been studying markets for over 60 years. We are back testing the lows in the gold market. What are your thoughts on the big picture and what’s happening here?”
Rosen: “We are very close to where the upside explosion in gold is going to begin. There are millions of despondent gold holders right now but if they look at the quarterly chart below they will see that we are just a few bucks away from the end of what has been a brutal bear market ($1,160 on the trendline below).
The global stock markets will top out at the time gold bottoms at the trendline shown on the multi-decade chart you see above. This is the crossroads where the bull market in gold is going to reassert itself….
“At the same time you will see a collapse in stocks that will only be rivaled by the crash and subsequent Great Depression the world witnessed after stocks began to collapse in 1929. This time stocks will be buried fast and gold will be taking off to the upside like a rocket.”
Eric King: “You have warned that Western central planners could destroy themselves in their war against gold.”
Ron Rosen: “If they have half a brain they will stop. We will know they have abandoned QE when the market collapses over the next year and a half and gold takes off. This means they will have decided not to destroy our society. If the Dow and the S&P collapse and the precious metals surge massively, this surge will act as an indictment against all global fiat currencies they’ve issued and all the electronic crap they’ve done, then we will know that they have backed off and decided to let the system take care of itself.”
Eric King: “Since the Western central planners decided to attack the gold market once again, what people really want to know is will they be defeated?”
Rosen: “I don’t believe they can smash the long-term bullish trend in the gold market shown on the chart above. And if they do, the system that we live under will be totally destroyed and they will be taking over like a dictatorship. They may be able to push the price around from time to time but they cannot entirely destroy the forces of the free market, and that line in the chart above shows you where the free market lives.
And we are going to hit that trendline in a matter of a few dollars. We are not that far from it now. That is the line on the chart that says, ‘Free Market.’ They may try to attack that line but if they succeed in breaking it then we are all screwed. And if it can’t be done we will know. And if it can’t be done then they are screwed. That’s Mother Nature’s line. That’s Natural Law. That’s out Creator saying, ‘You aren’t going beyond here, and if you do then you are destroying yourself and you will pay a hell of a price.”
The reversal in the gold market is going to create the biggest move of all. All you have to do is look at that quarterly chart above and you can see that each move has accelerated and is much bigger than the last one. And if the line holds, which I think it will, the next move will be even more spectacular than the massive surge in gold in the previous leg where gold tripled in price. Meaning, this last move in gold will be pretty damn big to the upside — that’s the way this unfolding and no government or syndicate of banks can stop it.”
Source: King World News