Gregory Mannarino, who is known as the Robin Hood of Wall Street, predicts the financial system is dying, and the sign that’s the case is the unlimited bond buying. As soon as the bond buying stops, the system dies.
The European Central Bank is beginning the debt market super-rigging with unlimited bong buying. On Friday, Bloomberg reported the news.
The European Central Bank will unveil an unlimited bond-buying tool next week to help markets better adjust to steeper and faster interest-rate increases.
It’s sold as a way to “help the markets better adjust to steeper and faster interest-rate increases.” The report doesn’t mention that an unlimited bond buying move by the ECB, which will be followed up by the Federal Reserve, IS MASSIVELY INFLATIONARY.
It sparked a rally in the market but artificially suppresses rates and a risk-on environment.
Mannarino said, “at its core, the global financial system is rapidly becoming illiquid; that is, for the current debt-based system to function, the debt must unrelentingly be added to the system exponentially.
“The literal nanosecond that a single dollar of debt is not added to the system, the system itself dies.”
Eventually, it stops, and people can’t get their cash, money markets, annuities, stock portfolios, CDs, etc.
“The current debt-based economic model is dying by design,” he said. He added that the Federal Reserve is adding to it by “moving vast amounts of debt between institutions overnight.” They rapidly move trillions between systems to trick the system into thinking there is more liquidity than there is.
His conclusion is that the global financial system is insolvent, and without constant refueling with debt, it dies.
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