Gregory Mannarino: Bitcoin Futures Biggest Pump and Dump Ever

• Gregory Mannarino: Bitcoin Futures Biggest Pump and Dump Ever
  by Greg Hunter’s USAWatchdog.com 
  Analyst/trader Gregory Mannarino says the record high stock markets have some big money people worried, and you should be too. Mannarino says, “On a weekly basis, yet another fund manager is coming out to speak against stock market evaluations and against what the Federal Reserve is doing.  Stanley Drukenmiller, a multi-billionaire hedge fund manager, came out on CNBC, and they didn’t turn him off.  He said the Federal Reserve is the Darth Vader of the financial markets and has inflated asset bubbles all over the place.  They let him talk.  They didn’t cut him off.”
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  Mannarino goes on to say, “The Fed has created bubbles. This is no secret, and the market is twisted, it is distorted.  There is no real true price discovery mechanism, and there will not be until these world central banks stop managing the markets.  They have created fakery and made it way worse than the top of the last bubble.  This does not mean that this stock market is not going to go higher.”
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  On Bitcoin and the new futures markets for it, Mannarino says, “Right now, Wall Street with its hand on Bitcoin, means to me that it’s going to be gamed. (Bitcoin) It’s very thinly traded, it’s not widely held.  Very few people actually hold this, and the bulk of this is held by very few.  So, to game Bitcoin through the exchanges, someone out here with deep pockets, like a bank with unlimited fiat currency, could run the biggest pump and dump the world has ever seen with regard to Bitcoin.  They are going to play it using the futures market.  Wall Street is going to game this.  How do we know this?  Wall Street games everything.”
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  On the Bond market, Mannarino contends, “The debt market or the bond market is in the largest bubble the world has ever seen. If you believe Bitcoin is in a bubble, the bond market bubble makes Bitcoin look like one grain of sand on the entire earth.  That’s how big the debt bubble is.  World central banks have gone to unbelievable lengths to prop all this up. . . .They are going to kill the dollar, and they have been killing it for years.  It has lost almost all of its purchasing power.”
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  Mannarino says the “red warning flag” will come from both the stock and bond markets at the same time. Mannarino explains, “When we see a sell-off in the bond market that does not stop, and we see a simultaneous sell-off in the stock market, when these two assets start to sell off at the same time, there is the gong of gongs. . . . That’s going to be the moment when people need to run for the hills, if you can get out.”

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