John Truman Wolfe, editor/publisher of The Hard Truth magazine, shared his analysis of the extreme conditions in the financial markets and expectations for the rest of 2018. Although he does not believe that the market has reached a peak, he expects the stock market to fall even worse than in 2008. He believes that they may drop 10,000 points later this year. If the turmoil in the war and the global situation intensifies, he expects that precious metal prices will begin to rise while stocks decline.
He believes that the main purpose of the 2008 financial crisis was to use the U.S. dollar as a world reserve currency. Wolff expressed concern about the newly implemented bank business process, which involved troubled banks converting depositor funds into bank deposits. In his most recent book, he listed about 100 independent American banks and is not subject to such bribery. He named the Bank for International Settlements in Switzerland as the “elf” behind the financial process, setting policies for 55 central banks worldwide. Although Wolf believes that cryptocurrencies are highly volatile, they remain here. He said investors may consider investing 1% of their funds in this market.