Former Fed insider: Coming crash could resemble 1929

Danielle DiMartino Booth, author of “Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America,” joined “The Glenn Beck Radio Program” Friday to warn Americans about the risks of “diversification” and a possible economic crash in the near future.

The former Federal Reserve insider correctly predicted the housing market crash of 2008. Now, Booth is warning people who are investing their money in stocks and equity not to be lured by “diversification” when central banks are keeping interest rates artificially low.

“You’re going to hear all kinds of comforting commercials,” Booth said, describing a typical investment firm TV advertisement: a dog running on the beach and a soothing voiceover about preparing for retirement. She went on to explain:

“And what are they selling exactly? They’re selling the beauty of diversification. ‘As long as you spread your risks throughout your bonds and your equities and your real estate, you’re gonna retire just fine.’ That’s not what happens when central banks are manipulating prices.”

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