Dubbed the "Robin Hood of Wall Street," Mannarino gained a reputation for his ability to predict future happenings in the markets. However, his recent warnings centered on the upcoming financial meltdown. People are being led to believe that raising interest rates can mitigate inflation, Mannarino said.
"I hate the central banks. These organizations are Public Enemy No. 1, [and] their goal is to consolidate power around the world," he told Health Ranger Mike Adams. "They are going out of their way to deliberately destroy the global economy by crushing the consumers, lying to the people and saying 'We're [going to] raise rates and that's going to control inflation.'"
Mannarino also warned of a meltdown that could happen soon. "Wait for what's coming down the pike. Just be ready for anything," he advised.
Adams then brought up the recent panic caused by Credit Suisse shares plunging by 30 percent. The Switzerland-based bank has temporarily regained its footing through a $54 billion loan lifeline extended by the Swiss National Bank. He then asked his guest about the repercussions of this on the U.S. Treasury. (Related: Credit Suisse shares surge after record decline – thanks to Swiss central bank's $54B loan offer.)
In response, Mannarino revealed that the entire banking system is interconnected like a gigantic web – and the whole system isn't actually real.
"They just … renamed it and made it look a little prettier, but the risk is all still there. Ninety-nine percent of this is all derivatives and literally just side bets in cyberspace that have no bearing on reality. Big banks are basically running on the smaller banks, pulling their cash out and depositing it into the mega banks, which are just in the same boat. They just got more cash here and more than likely this is going to consolidate too."
"Mark my words, we are going to see several major banks go down or get absorbed in some kind of fashion," stressed Mannarino, adding that most of these will be absorbed by three megabanks funded by the Federal Reserve.
Mannarino: Invest in precious metals NOW
Adams concurred with his guest, remarking that money should be moved from banks to investments such as precious metals. He added that many are now aware of the looming economic riot, given the increased purchases of gold and silver.
Mannarino was not surprised by this development, telling the Natural News and Brighteon.com founder: "As the current system comes apart, people are [going to] look for alternative places to put their cash. Right now there's an enormous effort to keep the debt market liquefied and it's already completely illiquid and extremely unstable."
"Silver is my favorite of all time – [also] gold, platinum and palladium. And I also believe it's going to make its way to some cryptocurrencies."
Mannarino remarked that people need to have minimal exposure to cash, and central banks play the villain role by sucking consumers' purchasing power.
"That is why we're getting all this inflation around the world. And I think this is going to become magnified much greater again with all these liquidity injections because the Fed never wanted to stop inflation. They're going to continue to find reasons to pull cash, re-liquefy an illiquid system, fund wars and everything else you can dream about."
Visit Collapse.news for more stories about the impending economic collapse.
Listen to the full conversation between Mike Adams and Gregory Mannarino on the "Health Ranger Report" below.
This video is from the Health Ranger Report channel on Brighteon.com.
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