The Real Carnage The World Will Have To Face Is Still To Come

With continued volatility in global markets, today a 58-year market veteran warned King World News that “The real carnage the world will have to face is still to come.” Ron Rosen, who has been at this business for almost six decades, also cautioned that what is coming as a “major and historic transition.” He also stated that this transition will make the chaos which took place in the 1970s pale by comparison.

Eric King: “Ron, you’ve been at this business for nearly six decades, where are we at this point in this historic cycle, and where do you see us headed from here?”

Rosen: “We are now in the process of making a secondary low in the gold and silver markets. This will confirm that a major bottom in both gold and silver has already taken place, and this pullback will be over in a matter of weeks — I would say 3 to 5 weeks at the most….

“At that point gold and silver will be heading dramatically higher into much of 2014. Gold and silver will be making new all-time highs by early next year, but silver will be outperforming gold during this time frame.

The timing of this stock market decline is working out perfectly as I see it. The precious metals complex bottomed slightly before the stock market topped out. We are now going through a major and historic transition compared to the minor transition which took place in the 1970s. The prices of both gold and silver are going to be substantially higher, and the tension and pain that is going to be felt by virtually all investors will also be much greater than what took place in the 1970s.

This is a major transition, so people around the world should be emotionally prepared for some very bad news, bad experiences, a dramatic increase in gold and silver, and a dramatic decrease in the general stock market averages. Again, it will be a staggering 66% from the top to the bottom in the Dow.

This will be a very, very difficult time in history. Just by looking at the daily news you can see we have barely scratched the surface. The real carnage the world will have to face is still to come. But I have been at this business for almost 60 years, and I promise you it won’t be the end of the world.

As I mentioned to you previously, all of this started with the creation of the Federal Reserve in 1913. The devastation in stocks which took place in the 1970s will be seen as minor compared to what is coming. But all of my work points to the fact that the world is about to go through a major transition, and it will be like a tidal wave tearing through the global markets.

We will only be able to compare what is coming to the terrible events that transpired during the Great Depression. People losing 2/3 of their investments in general stocks will be devastating, but if you are invested in gold and silver you are going to fare incredibly well.

It’s going to be a tough ride, all bull markets are because they want to kick people off or out of the bull market. But for investors that can hang on and stomach the tough moments like we have seen very recently, they will be rewarded way beyond anything they can now imagine.”

Rosen also added: “The quality mining shares will be spectacular performers in the future. They will go higher than anyone expects. In fact, there will be an incredible mania at some point in the shares. But, again, this will be a long and drawn out, major and historic transition, and it will make the chaos that took place in the 1970s pale by comparison. As I said earlier, investors need to prepare themselves emotionally for the coming carnage, and they must also keep in mind that that the world will not end.”

The audio interviews with Pierre Lassonde, Dr. Paul Craig Roberts, Art Cashin, James Turk, Eric Sprott, Egon von Greyerz, James Dines, William Kaye, Grant Williams, Hugo Salinas Price and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE..

Eric King