From USA watchdog Greg Hunter Intrrview:
Mannarino says the market will always try to find fair value for stocks, bonds, real estate, currencies, gold and silver. Mannarino contends, “The market tried to correct itself in 2008. It was not a meltdown or a crash, it was a correction to fair value. Real estate was massively overvalued, and it was correcting to fair value. The stock market was massively overvalued. It was trying to correct to a fair value. We saw what happened to gold and silver as it went up. It was trying to move to fair value. This is what I have been saying, and that is nothing is real. I challenge anyone here to refute what I am about to say: There is not one asset class, not one, that has a real price discovery mechanism right now. How do we know this is true? The central banks, all of them, are distorting the debt market. It’s the largest part of this market, and they are artificially suppressing interest rates. This creates distortions, and every asset derives its value from what is occurring in the debt market. . . . So, if the debt market is not being allowed to achieve a fair value for the debt . . . then nothing across the spectrum of asset classes, including your house, is real. The price of it is fake. The price of your metals (gold and silver) is obviously fake. The value of your debt note is fake. You have to understand this to get a true perspective on what is occurring.”

In closing, Mannarino says the next meltdown will be far worse than the last, and it will involve the entire world. Mannarino predicts, “If the system melts down in its current form, in other words, we cannot acquire more and more debt, we can’t borrow from the future to sustain where we are now, half of the world’s population will not survive. That’s how dire this can be.”