With continued volatility in global markets, today a 60-year market veteran told King World News that “the US is bankrupt,” and it will “collapse.” KWN takes this man’s warning very seriously because, incredibly, his father tried the major cases as a lawyer over 100 years 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 and silver. Below is what Rosen had to say in this incredibly powerful interview.
Rosen: “The Dow and the S&P are in the process of collapsing. These averages are going to plunge all the way back to their 1982 trendlines. 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 and silver. This is a duplication of what occurred in the 1970s.
Continue reading the Ron Rosen interview at KING WORLD NEWS