Michael Burry became famous because he knew how to read the financial writing on the wall. His predictions about the 2008 housing collapse earned him and his clients a lot of money, and anyone who is familiar with the circumstances or who watched the movie "The Big Short" realizes he would have made many times more if the system hadn't cheated him.

Now, he's predicting the next major collapse will be the stock markets. And it's not just a prediction. He's betting $1.6 BILLION that the stock market is about to crash. Considering most Americans who are invested in the stock market are doing so through their 401K or other retirement accounts, the message that he's telegraphing is apparent: Get out of the stock market before it's too late.

Burry is making his bearish bets against the S&P 500 and Nasdaq 100, according to Security Exchange Commission filings released Monday. Burry™s fund, Scion Asset Management, bought $866 million in put options (that™s the right to sell an asset at a particular price) against a fund that tracks the S&P 500 and $739 million in put options against a fund that tracks the Nasdaq 100.

Burry is using more than 90% of his portfolio to bet on a market downturn, according to the filings.

Unfortunately, "Big Gold" companies are pouncing on the news and utilizing ugly marketing and sales techniques to play on the fear. This has far too many Americans jumping out of the frying pan and into the fire as they get sucked into the "free" silver ploy that ends up decimating retirement accounts further.