Is an epic financial meltdown about to commence? Predictions that a crash will occur in the fall of 2015 have been gaining traction. They are bolstered by some of the market events of this summer, which suggest that something big is indeed unfolding.

In August, the Chinese devalued the yuan, setting off volatility in currency, commodity, and equity markets worldwide. The U.S. stock market suffered its worst slide in four years, with the Dow Jones Industrial Average falling through major support levels. Crude oil prices careened below $40 per barrel.

Holding strong amidst the carnage was gold. The yellow metal may now be re-emerging as the premier safe-haven asset.

In times of financial crisis, gold tends to benefit – or at least hold up better than most other assets. Gold is the pessimist’s best friend.

The question before investors now is whether the pessimists will be right. Will the doom-and-gloom scenarios that some prominent market gurus have been forecasting play out? It’s worth considering their arguments, keeping in mind that nobody knows the future and that market forecasts are, at best, educated guesses.

Is the Stock Market Teetering toward a “Devastating Crash”?

Cycles analysts such as Bo Polny predicted a summer high in the stock market. He was right with that call (though his bullish call on silver for July notably failed to pan out). He now expects stocks will “put in a devastating crash cycle low in 2016 on the 50-year Jubilee,” in keeping with his views that we live in prophetic times. He sees the worst of the stock market meltdown occurring next year – not in September or October of this year as some are predicting.

Will precious metals bottom in 2015 as stocks top out? It’s one very plausible scenario.

Many are expecting some kind of disruptive event to take place as the 7-year cycle concludes this year. Precious metals analyst Egon von Greyerz said that “this coming September / October, all hell will break loose in the world economy and markets.”