Turk – Gold & Stocks Smashed, Expect Massive Spike In Fear
June 21, 2012
With gold and silver getting smashed, along with stocks and commodities, today King World News interviewed James Turk out of Europe. Turk told KWN, “while the Lehman Brothers (event) was bad, it was just a warmup for a much worse financial catastrophe … We’re just getting started in terms of a fear event.” Here is what Turk had to say about what is taking place: “Everything is getting smashed today, Eric, but this is what you can expect when you are going into a ‘Fear Event.’ Doesn’t this (type of action) feel a lot like what happened when we went into the Lehman collapse?”
James Turk continues:
“The T-Bonds are up, the T-Notes are up, the dollar is stronger and the Dow and gold are getting hit. I think you are going to see gold and the Dow start separating here, particularly given the fact that the Federal Reserve really didn’t come in with QE yesterday.
Had they done a QE program, that would have juiced the stock market. But they didn’t come in with that, the stock guys are disappointed and therefore they are selling off the stock market today….