Well-known precious metals analyst and author-speaker David Morgan said all markets are manipulated and it is now out of control.
“All these markets are manipulated. They’re not really true, free-market price discovery,” Morgan said during the Dec. 15 episode of “Steel Truth” with Ann Vandersteel on Brighteon.TV.
The Silver Guru added that the market is supposed to reflect how well a given business or sector is doing but “what we have now is just a market out of control.” (Related: The stock market, fatally wounded by the truth, will stumble and crash.)
The publisher of The Morgan Report, also took note of the disconnect between the market economy and the physical economy which he said is becoming more and more of a chasm. He added that people “don’t trust the markets” because they are on a huge balloon.
“And so most of the smart money, I would say most but a great deal of the smart money has moved out of the stock market, which means in and I’ve been wrong as far as witnessing topping out,” Morgan disclosed.
“And you’re not having said all that doesn’t mean that the mother nature of economics will take over and we’ll have a big drift down in the stock market sometime in the first quarter, maybe second quarter of next year.”
When asked about the implosion of real estate holding company Evergrande, the investing author and online investment adopter said that it could have absolutely devastating consequences.
“And this is the problem with the Evergrande situation, when that leverage works against you. And it is, then markets always come down, down faster than they go up,” Morgan said.
Real estate developer Evergrande to restructure debt
Meanwhile, analysts said Evergrande is set to build a debt restructuring that includes all of its offshore public bonds and private debt.
The real estate developer, which has $300 billion worth in liabilities, said last Dec. 7 that it has created a risk management committee to mitigate and eliminate future risks for the company that has struggled to raise funds to pay suppliers and investors.
The said developments have lifted its shares from a record low as it managed to bounce back before losing steam afterward.
Morgan has also gathered information about cryptocurrencies on his website and blog aside from his 10-part series called The Crypto Conspiracy. He believes that the whole system is going to be changed.
“I don’t even say for the better, I just think it’s going to be changed dramatically over the next three, three months, six at the most. So I think all markets stocks, bonds, cryptos, precious metals, real estate, are going to have a resettlement,” Morgan stressed. “In other words, the market prices of all these things are going to be adjusted over the next three to six months. And they’ll be specifics.”
Morgan added that it would be smart to buy real estate now but for his part, he would wait.
Regarding cryptos, the author and blogger said that he would lighten up. He noted that when in doubt it’s better to sell half to half the profits now and wait it out.
On stocks, Morgan said that he only looks at resource companies and just probably waits for temporarily precious metals like silver or gold, which can be your main investment.
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