Massive Global Defaults Coming – Michael Pento
By Greg Hunter’s USAWatchdog.com
Money manager Michael Pento says President Trump sent a profound financial message to Wall Street and Main Street when he said $74 billion in Puerto Rican debt needed to be “wiped out.” Pento, who is also an economist, explains, “What I find very striking is that Trump said, very honestly, we’re going to get rid of that. We’re going to abrogate it. We’re going to cancel that debt. So, he’s telling private creditors, Goldman Sachs, pension funds and individual bond holders, you’re going to get close to, if not exactly, zero cents on the dollar. That’s an explicit default on debt. . . . Ladies and gentleman, please listen to me, the governments of the world, which include the United States, Puerto Rico, Greece, China, Japan and Eurozone, they are going to default on their debt either explicitly or implicitly through inflation. That is what’s happening now, and that condition will only exacerbate as we go through time.”
Is Puerto Rico a test for debt default? Pento says, “Absolutely correct. It’s what’s going to happen. There has also been a test case in Cyprus and in Greece. They are telling creditors you are going to get ‘X’ cents on the dollar. These are small isolated cases, and please don’t believe that the United States can ever fund its $20.3 trillion worth of debt that’s on the balance sheet. We have over a hundred trillion dollars in unfunded liabilities, and quadrillions of debt in derivatives. So, we are going to have massive defaults.”
Pento says even though the stock market has made huge gains in 2017, don’t expect this to continue. Pento contends, “Year-over-year growth for the third quarter (Q3) is just 2.9%. . . . So, you have no more earnings growth. It’s very miniscule. GDP (Gross Domestic Product) according to the New York Fed for Q3, it’s 1.8%. If you look at the Atlanta Fed, it’s just a little bit above 2%. So, you are still stuck in that 2% range. There’s no real growth in GDP and no real growth in earnings. The only thing you have left (holding up the markets) is central banks, and that game is ending. You have central banks selling when there is a high risk of nuclear war, WWIII, stocks are trading at all-time record highs and 138% total market cap to GDP when the average is 50%. This is crazy. There is no way you can justify the level of stock prices without massive and unrelenting money printing, which is coming to an end.”
On gold, Pento says, “You’ve got to have 10% physical gold in your liquid net worth. It has to be physical gold that you possess directly. I cannot stress that enough. . . . I like all precious metals. They are going to be in a massive and unprecedented bull market sometime in 2018.”
Join Greg Hunter as he goes One-on-One with economist Michael Pento of Pento Portfolio Strategies.
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After the Interview:
Michael Pento also predicts in the coming crash that the tech heavy NASDAQ will fall 85% and won’t come back for 15 years, same as in the Dot-com crash in 2000. There is free information, analysis and videos on PentoPort.com.
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About the Author
Greg Hunter
Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.
Copper is like the “birds” in the movie Moby Dick mates … watch the “birds” to predict when the great “white whale” (silver) will be rising (along with gold)!! … https://www.clivemaund.com/gmu.php?art_id=68&date=2017-10-08
The dollar, commodities, inflation, interest rates, etc. … gold will rise 10 fold and silver 30 fold … https://goldswitzerland.com/10-factors-to-propel-gold-10-fold/
I hope copper goes up. with silver and gold.
If there is a rush into physical gold and silver it is logical to assume that once this has all been bought up people will turn to copper. Copper also has had a monetary history, historically.
Save your pennies 1982 and earlier. Mostly copper in them there coins. I save them and roll them up in 50 cents paper rolls. I find it enjoyable to search for them in change…like a little treasure hunt. Copper can be the third common monetary metal…I agree. It is a very useful metal.
Copper is looking good
http://palisaderadio.com/cameron-mcrae-copper-prices-are-in-bull-market-territory-and-will-continue-to-climb/
http://palisaderadio.com/doug-casey-bitcoin-is-going-to-drive-gold-silver-to-all-time-highs/
Ben. Thanks for the post. I hope copper goes up faster then decades away…LOL My attic is worrisome as it is more then needs to be. Copper is the most overlooked money. Thanks again for the audio.
Paul/Greg: Remember that Pastor Lindsey William’s elite friend told him years ago that the USA would default on the US debt. Congress was told this many years ago, and that’s why they spend like crazy people- they know the default is coming so who cares how big the debt is??
Pastor Williams has warned people to own gold/silver for years- begged people to buy some. Gold/silver is the only money of the elites. Get out of as much paper as possible, any kind of paper. If it printed on paper it’s only worth the paper it’s printed on!!!!!
This is the only rational explanation.
If I recall correctly, Bill Holter said he believed that China was trying to max out its credit cards in anticipation of a mass worldwide debt default. The difference is that it has invested in infrastructure fit for the 21st century, strategic assets around the globe and a monetary asset that gives it financial credibility (gold).
As a result of not being a democracy, the Chinese political elite can afford to plough ahead with a multi decades long economic plan. They are not paralysed by bi-partisan politics and have a unified purpose.
A word to the wise on keeping money (gold and silver) in any bank … Egon von Greyerz says: “Don’t hold gold in a Swiss Bank or in any bank in any country. We regularly see examples both in mid-tier and large Swiss banks that should make bank clients very concerned.”
Here are some examples from Egon:
1) “A client stores physical gold in a bank but when he wants us to organize a transfer to private vaults, the gold doesn’t exist and the bank must acquire it”.
2) ” 400 oz gold bars that were bought by the bank for the client in 2005, were cast in 2011, so the gold never existed. The client is told he owns physical gold and silver but actually only has “paper metals”.
3) ” Swiss banks are doing all they can to stop clients taking their gold out. One major bank refuses to transfer gold out if the client isn’t present. Another major bank recently told the client that they don’t transfer client gold out of their bank to anyone (even if the client demands it)”.
4) “Swiss banks “tell their clients” that physical gold and silver held in their bank vaults on behalf of their clients is not on the bank’s balance sheet (and based on Swiss law it belongs to the client). Yes, that is officially correct, but how many times have we seen banks under pressure use client assets as security for their trading, especially when they are under pressure”.
In summary: “Gold and silver are wealth preservation assets. Therefore, they must not be held within a rotten and massively leveraged financial system”.
This guy, on the other hand, got all of his gold back. And his silver, too. But that was twenty some years ago…
http://www.youtube.com/watch?v=vQhqikWnQCU
Paul or other Watchdoggers
Where do you all hold your 400 oz. gold bars?
Macray.
In Jerry’s Bank.
Where no one would think to look!!
I sold mine to a lightbulb manufacturer lol
Greg,
This was a great interview with Michael Pento! I liked it that there was not any interrupting going on and you were able to ask questions freely and Michael answered them. This is a show of good manners, which we need. So much of the time we get a panic feeling. Michael gives much more of a calm feeling, and good advice too.
Hey Paul, Your comments are annoying; especially commenting on your own comments.
Incoherent, sometimes scatterbrained. Very distracting.
Take a break.
He’s almost like a man obsessed. Possessed?
Tad … Obsession in the cause of morality and the Principles expounded by Jesus and God the Father is no vice … lets hope more people “possess such obsession” for ridding the Earth of Satan’s Demons!!
Paul I agree with you and admire your passion Sadly most people are on medication or just spineless jellyfish
I look forward to & enjoy your comments also Paul!
Thank you. I mentioned, months ago, that jotting down random thoughts and connecting them with ellipses does not qualify as an argument.
I concur with regard to commenting on your own comments. I have done that in the past, usually as a correction or to provide additional information. Having a conversation with yourself defeats the purpose of the forum.
I hope he takes your advice!
Faith … I guess you never used “a random number generator” to solve very difficult mathematical problems … in my profession as a mathematical physicist I have … now consider the usefulness of using … “an unstructured random thought generator” … to home in on solving difficult political and moral problems!
eddiemd … sometimes I laugh hysterically at some of what I think are humorous comments “to break the seriousness of the subject matter” … but I see “not all people” catch my jokes or recognize my type of humor!
eddie … not to be distracting (this is no joke) … “war is a racket” that benefits the medical profession, corporations and many others … now you can pounce on me for expounding this “incoherent and scatterbrained concept” … that “war is a racket (devised by devils)” … but what if it’s true? … http://www.zerohedge.com/news/2017-10-11/empire-destroying-wars-are-coming-america-under-trump-part-2
Paul leaves short comments most of the time and isn’t able to say all he wants to in those short comments. I think it takes being brave to post comments on this site and I feel that we just need to try to get what we can get out of them and be patient with what we don’t like or agree with.
The storm before the calm?
https://watchyt.com/videos/60-geoengineered-fire-storms-in-northern-california-out-of-nowhere?v=Apb_42jMm8U
Greg,
Careful you don’t get expertly experted! Some of your experts have been sending me mail with their predictions which never seem to come to fruition for years. All kinds of baloney about insider information, contacts in the CIA etc. etc. You know the kind of stuff to nick a novice of a few bucks which is their real intent. Some of them are really disgusting. Eventually, they will be on the money and self fulfilling but be careful and don’t dilute your excellent website with their, I assume, hefty advertising fees. I guys gotta make some money but a guy has gotta have some integrity.
Darth Vader steers the Evil Empires “ship of state” into war … in fact two(2) new wars … in different parts of the galaxy (N. Korea and Iran) … trying for the Nobel Peace Prize … as he “Cottons up” to Maddis and Tillerson! … http://www.zerohedge.com/news/2017-10-10/empire-destroying-wars-are-coming-america-under-trump-part-1
The Satanists, pedophiles and neocon warmongers cheer wildly as Trump powers up the “Death Star” and tells his military this is “the calm before the storm” … there is much money to be made in war … and what is better then fiat money? … perhaps your immortal soul Trump?? … let’s see … Korea has not attacked anyone in 77 years … and Iran has not attacked anyone in 200 years … and these are the countries you want to destroy using your advanced nuclear technology? … Hey Trump (“rocket man”) you promised us peace in our time (you just got through attacking Syria with Tomahawk missiles now you cut off all negotiation with N. Korea and will decertify the Iran deal?) … I don’t want to hear our new Warmonger in Chief tells us Hillary is “too nice a lady” … guess you think it is very funny … hee hee hee!!! … your warmonger supporters will say: N.Korea hacks our computers (like the CIA and NSA don’t do these things?) … the CIA and Mossad are all over the Middle East doing undercover operations … and Iran doesn’t have its right to do the same? … lets get real folks … as Wiles just recently said: “a Satanic Deep State is in control in America” … only God’s people can defeat it by telling Trump: We don’t want War … We don’t want to nuke and kill any more women and children … the Satanists and pedophiles have sacrificed enough already!!
It’s just possible this isn’t any “calm before the storm”. Firstly, where can we find calm? Suspicious fires, hurricanes, and earthquake activity in Las Palmas? Dear God in Heaven….
I think this is the storm before the calm. EMF has been linked to autism, Parkinsons, ALS, you name it. People are going to stand up against smart meters and 5G horrors….Roundup, Monsanto, factory farms, and “cashless”. I’ll give you the case for cash in two words: Puerto Rico.
This is the darkness before the dawn…Mickey and Donald are not the prophets.
Sadly I think you are wrong I was in Raleigh two years ago and there was a rally going on against Monsanto downtown I asked my host if she would go with me and she said she would but was too busy People are involved in living and most have neither the time nor the inclination to do anything about these issues
Unfortunately, this is not the calm before the storm. It’s just getting going. It will get much worse.
Superb Greg!
Many thanks 🙏
We really can’t say that we the people haven’t been warned. Numerous guests over many years all saying delivering same message…Ka Boom!
I have to disagree with Michael a bit. It’s not EVERY country that will experience a dramatic rise in interest rates as people and institutions lose faith in currency. While defaults zoom worldwide because of excessive debt that can’t be serviced, there’s one country where that won’t happen.
It’s Russia. Russia just retired all the post USSR debt that they took over for all the other USSR countries. Their sovereign debt is miniscule and can be paid off today with the cash they have in the bank and still have hundreds of billions left. They are stockpiling tons of gold monthly and it’s likely the ruble will be backed by gold at some point. Now with the ability to sell oil to China and receive gold in payment, why would interest rates have to rise in Russia?
Bill Holter is on record saying the Russian ruble may be the only currency to survive in its current form after the carnage that’s coming. I think he’s right and for good reason.
I read a couple of years ago that Apple was valued at more than the entire Russian stock market. Very undervalued country.
James:
Take a look at Iceland, they are one of the most stable currencies.
I know my comment is going to be unpopular, but I still feel the need to post it. When this next economic collapse hits, it is going to be the end of our current way of life, if we have one at all. I am serious when I say the Great Depression is nothing compared to what is coming. Michael Pento is talking about how people who buy and hold are going to get crushed. In reality, with the exception of the super rich and wealthy elite preppers, we ALL are going to get crushed no matter how much gold and silver we have. I have attached a link to deagel.com. According to them, most of us will not be alive by 2025, and for the ones that still are, life will never be the same. I totally believe this. Think Gregory Mannorino and the population bubble he speaks of. Think about how he and Michael Snyder talk about how we are borrowing from the future to live a better now. Both are correct. Becoming your own central bank is not going to save you either. Sorry to be so negative, but investments are going to be the last thing on everyone’s mind when their normalcy bias has finally been shattered.
http://www.deagel.com/country/United-States-of-America_c0001.aspx
My Boomer peers are retired all over southeast Georgia and SC. Their dividend checks and pensions are the very same institutional banks that have seduced and impoverished their children and grandchildren.
I haven’t heard anyone mention this; and the golf courses keep coming, bulldozing down trees and poisoning the estuaries with Roundup. My generation is the most spoiled rotten, materialistic me firster bunch to ever live.
I’ve given almost all inheritance and spending money away to my kids already…my disabled husband still works at 70. We refuse EBT which we could easily get….I just HATE what my peers have done. The banks are buying back their own stock to keep Boomers in clover.
Anyone who agrees, please know every person in my demographic hasn’t the “life well planned” that is eating away the future of their descendants.
Thanks for reading my little essay!!!
Deanna,
Older folk are living by the principles they learned long ago – better poor and honorable, than indulgent and slacker. It’s just not that way anymore.
Maybe the generation before the baby boomers messed everything up!
The elite sold an illusion of infinite growth – the baby boomers bought it – the younger generation is paying for it!
sorry, I meant to say that the generation before the baby boomers may have been poor and honourable, but the baby boomers messed everything up.
Yes it is a mess. I see very selfish old people everywhere, who do not care about their offspring. They say “My kids need to make their own way. They need to start at the bottom like I did.”
Then they watch their kids fail out in today’s world.
Jim Sinclair once said today’s world is “tricky”, and it will destroy people. He said he tried to advise his children and grandchildren so they could benefit from his experience. How many parents out there are loaded with cash and own 10 houses while their kids struggle to pay rent?
10 houses Not too many I’d imagine but I agree with your basic premise People have become much more self absorbed no doubt about it
Not all baby boomers are selfish, spoiled, rich “old people.”
Where I live, I see more than a few grandparents who have become babysitters for their children’s children.
I see grandparents who would like to finally “rest” a bit, working harder than they have ever worked before.
I see boomers in their late 70’s and 80’s still employed.
I know of boomers who tend large gardens to feed themselves and their children’s families..
I see a lot of boomers who are quite poor and yet honorable, who have sacrificed for their children all their lives and are still doing so. Because times are tough.
I know boomers who have instilled in their children the value of hard work, living close to the earth, and love of God and country.
Boomers are just like the younger generations:
there are good and bad, selfless and selfish
in both groups.
I am privileged to live in a small rural community where most people, young and old, still cling to the old values.
You tell em dog I agree I’m only 63 and would love to be working but 40 plus years of heavy work for very long hours has destroyed my spine and joints It’s not easy going from being a workaholic to being basically useless but I find a way
Sorry to read this Frederick. Have you tried vitamin k2 for bone health? It is a vitamin usually neglected in bone health formulas.
This is why Greg suggests that people, “prepare spiritually”, and to put your faith in “God the father”. We MUST have something to hold onto in times of trouble. Also, God can, and does, perform miracles. If I were you, I would say “yes” to what Jesus has to offer you. That way, no matter what happens, you’ll be fine.
Brent,
I agree with much of your post here. The scriptures say that the Jews will be first and the Gentiles will be last in Jesus’s day and that in the last days the Gentiles will be first and the Jews will be last. What this means is that the gospel was given to the Jews first, but they rejected Jesus and killed him, so it went to the Gentiles. In the last days, the gospel went to people considered Gentiles first, and they will reject the fullness of the gospel, so it will go to the descendants of the Jews. Why am I saying this? Because I believe that many, many people in the U.S. will die and the depression will be like a “Sunday School Picnic,” compared to what’s coming. There’s got to be a cleansing before God can build His Kingdom upon the earth during the millenium. This building will take good, honest people and they will be the only ones left alive. There is a plan for saving the good people of America and keeping some of them from starving to death, but there is going to be an awfully lot of terrible things happening. I agree with you.
Mr. Pento is one of the very best guests you have on, Greg. Thank you! His mind is like a calculator- super fast with the math, and he’s generous with sharing his insights, so we’re blessed with his knowledge. We’re damn lucky to have him on! One of my favorites. Will share this interview link.
The radio news these past 2 weeks has been the worst radio I can remember as a young 56 yr old. All based on speculation- which makes for bad radio: the Vegas shooter’s motives ( his dad was a bank robber), Harvey Weinstein’s motives (duh!)
NFL players motives ( college & media indoctrination, duh!).
But Sir Pento is quietly crunching numbers on his calculator and looking at world history and warfare and is explaining the more important issues. Sorry, but it’s true!
I think Trump will wipe the debt of Puerto Rico in exchange for the country’s sovereignty.
Always enjoy pento but last time he was on the day of reckoning was weeks or months away. Now months later we are another year away. By then, there will be some other unforseen trick up their sleeves to keep this clusterbleep going. They are in charge.
C dad sorry to post to you, as you called me out in past. There will be a trick until there is no more tricks. Even a can will get to small to kick. Today we have a imaginary can being kicked down a imaginary road, and Millions of blind people believing it to save their own ass.
I will do a Paul.. What could go wrong ??
Here we go again.
It’s all going to collapse by July 2018
In 2016 it was all going to collapse by 2017.
In 2015 the markets couldn’t continue before the collapse in 2016
In 2014 etc. 2013 etc. 2012 etc.
Michael Pento will be saying in July 2018 “I didn’t realise this could continue but the collapse will definitely be in 2019.”
AND we still believe these pundits who have their financial wares to sell.
This interview I’m sorry to say was Michael Pento advertising Pento Portfolio.
Your skepticism is entirely understandable. I just find it inconceivable that they can perpetuate the illusion much beyond 2018 (10 years after the 2008 meltdown!) on a global economy that appears fragile at best with ever more burdensome debt levels. Having said that, unprecedented actions have been taken regarding the economy so expect unprecedented outcomes.
What does one do when they have painted themselves in a corner? Keep painting!
Better to look the part then look like a mistake. I have always been the stone the builder rejected. It is in my forehead rejects welcome. Step out to step up. Jesus knows you Charles H,, I know its got nothing to do in logic.
Doug
I denote a hint of sarcasm in your comment above.
Did You Know?
The original pundits were highly respected teachers and leaders in India. Their title was taken from the Hindi word pandit, a term of respect for a wise person that itself derives from the Sanskrit pandita, meaning “learned.” English speakers began using the form pundit specifically to refer to those Hindu sages as long ago as the 1600s. By the 1800s, they had also extended the term to refer to other sagacious individuals, and now
pundit is often used with a hint of sarcasm to refer to informed opinion makers (such as political commentators, financial analysts, and newspaper columnists) who boldly share their views (sometimes at great length) on just about any subject that lies within their areas of expertise.
https://www.merriam-webster.com/dictionary/pundit
But all sarcasm aside,
It is very easy to predict future events and when they occur.
The problem is that very few are successful on a consistent basis.
Some use simple logic to back their forecasts. Some use Astrology. Then there are a few that use cards and others attempt the time travel into the future thing thru mediation or other means. Of course as in anything, there will be some that are complete frauds trying to take advantage of others who are unable to think for themselves, can you spell GINA!
I’m sure I left some methods out.
Greg attempts to seek out the better ones to interview and graciously makes these available “for free” at USA Watchdog.
Thank You Greg!
Here’s my latest forecast : )))
I forecast that Russian President Putin and Chinese President Xi Jinping have read or listened to Trump: The Art of the Deal
https://www.amazon.com/Trump-Art-Deal/dp/B01FY3KPY8/ref=tmm_aud_swatch_0?_encoding=UTF8&qid=&sr=
I guess we all need to wait until July 2018 to see how good you are at it!
Regarding Bond holders taking a hit. Are derivatives in play as insurance written by the big banks? Surely the trillions in derivatives include some to cover the PR debt.
Greg,
I’m posting this information for some of your readers who have their residence in denial Ville. https://www.cnbc.com/2017/10/11/china-will-compel-saudi-arabia-to-trade-oil-in-yuan–and-thats-going-to-affect-the-us-dollar.html
CNBC is a globalist run corporation, so take this for what its worth. An advance warning from the elites on what they’re planning on doing. But hey don’t take my word for it. Go to “The Working Group’s” web site and do your own research. The only thing left to discuss is when? This could happen a thousand different ways depending on what the Chinese decide to do on 18th and what happens with North Korea. Either way I take the threat seriously and you should to. The dollar cannot recover from almost a trillion dollars in lost oil revenue.
Bill Holter’s article that someone posted for a different interview, was really good. It was about what China plans on doing to bring gold in to back their currency and make their currency the new world reserve currency. It’s a great article and probably on his website.
I like having all precious metals and some cash. Gold to silver is about 70 to 1. Once price manipulation ends I expect it to be about 10 to 1. Almost all of my PM’s are silver.
Jerry: How many years have you been posting this Doom Porn? How many years have your predictions been wrong? The Dollar is here to stay and you’ll be using it for the rest of your life – and the world will be using it too. Wake up and smell the coffee!
The dollar is going away. That is obvious.
Jerry is correct in concept.
Timing is unknown but it is getting close.
You know things are a “Work In Progress” They don’t happen overnight. Jerry has not posted unrealistic links or false information, but rather events unfolding.
Stan.
the man without a plan when the SHTF. Stan you win the monthly sniper award so you get to answer my question since you like calling me out so much. Question: How does the United States pay for 125 trillion dollars in unfunded liabilities using 3.4 trillion dollars in tax revenue?http://www.usdebtclock.org/
I’ll assume since you have all the answers you shouldn’t have any problem answering it. That is unless you’re just a gutless troll.
The 125 Trillion is not due on one date – it is spread out over many decades. The USA can easily absorb this cost through future growth, accommodative monetary policy and sufficient immigration to boost the total number of taxpayers.
Sufficient immigration? Really isn’t that the reason why Trump got elected? Besides Hillary being an evil Psychopathic witch with a predator for a husband of course
I think you are having us on. Still you have been entertaining.
Stan,
Either you are a troll, or you have not realized the truth of our situation yet. The economy is controlled by bankers who want to overthrow this country. They want this land! This is the land they have to overcome in order to get their new world order and the U.N. in control of things. So, either we do what Catherine A. Fitts suggests and work together, or we see a 7 year bout of terrible hardships. I hope you see reality or else get on the right side of heaven if you are a troll.
Jerry:
Stan’s tactics are right out of “Rules for Radicals.” Yes he is a troll — and one with a (losing) political agenda.
I suppose there are times when you may feel like responding, even though you know he is a troll. My suggestion: respond only when doing so gives you true enjoyment. The rest of the time, just sit back secure in the knowledge that the rest of us know what he’s up to.
Stan,
Get off Jerry. If you “wake up and smell the coffee” you will see that he is right. The timing of collapse is a guessing game but it is coming. There is no way out. You can not have this much debt with this little tax income as a government and exist without consequences. Logic and reason will prevail. It will happen. You, Stan, don’t want to be the man banging on the door of the ark. Screaming to Noah, as the rain hits your face, “let me in, let me in”!!!
Stan I’m NOT so sure it will have the buyingpower and prestige it had in the past Look at what’s going on and Wake up
Stan the dollar won’t just ” disappear ” obviously but it may be greatly devalued in the not too distant future so I’m hedging accordingly You can ignore reality if that’s what you choose
Stan,
Keep picking on Jerry while you use the Dollar for toilet paper.
You fool, todays dollar is worth 2 cents of the 1913 dollar.
What does a penny buy, what does a nickle buy…
Why don’t you study the history of FIAT money.
I suspect you are a troll.
Jallen
Stan
I like reading Jerry’s posts!
He asks a good question above. I hope you will consider sharing your thoughts on it with all of us!
Macray.
My guess is Stan doesn’t have the guts to answer it so I’ll answer it for him. Reserve Currency Status. Or in real estate terms the ability to create money out of thin air. Question #2: How does the U.S. maintain reserve currency status once the dollar is no longer pegged to oil?
Barn Cat I love your insurance policy, it’s the only policy I know of that lasts forever and has no annual premiums.
I’m in no hurry to claim on my policy because when I do the world is going to be a different place………….if I survive.
A ground war with North Korea will involve a massive logistical tail requiring months and months of preparation. Thus far, no visible indication of positioning. Use of conventional air assets is a double-edged sword. It can make a “statement”, but little more. Kim Jong-Un’s immediate response/reaction following a conventional air-attack is unknowable. Will Kim coward in a corner after a U.S. spanking, or retaliate by launching an air-attack against Seoul? If so, what will the U.S. do next and how? What will the U.S. do if China and/or Russia enter the fray?
In my view, it’s a stalemate. Conventional military options are very limited and resulting actions and counteractions difficult to anticipate. Game over. North Korea has entered the club of nations having a thermonuclear capability. Next move?
The USA strategy has always been to use tatical nuclear weapons on the Korean peninsula. Nothing has changed.
Seoul will be sacrificed if needed.
Recent comments by Mattis suggest not.
https://mwi.usma.edu/secretary-mattis-ausa-threats-us-military-must-prepared/
That’s because I don’t believe for a minute that there will be a ground invasion of the North The Chinese and Russians won’t tolerate it and were spread pretty thin around the world I just don’t see it happening
All good comments on this one. I am afraid that the Don would have no problem sacrificing Seoul, however I am in agreement with David and Frederick. The Don’s generals want no part of Russia and China who are both very capable of punching back big time. I believe that they have made it very clear to the Don and his Generals along with gifts of the most beautiful chocolate cake ever.
They have watched the US, a country that has been at war everyday this century, and are smart enough to know that they better be ready for confrontation with the US at anytime.
Macray … what we need is for the Mafia leaders of the world to sit down and “talk” like in the old days … we can’t have “Baby Face” Joug and Don “the Boss” shooting it out on the streets … where innocent women and children can be killed … “Lefty” Putin and “King” Xi should be at the Mafia Council Table so all the gangs can have a say and then impose a just settlement agreeable to all … what happened to “civility” among gang members … if “Baby Face” kisses “the Boss” on the lips we are in trouble … he must kiss his ring or his ass for us common people to be safe!
Paul,
In history, evil forces are known to destroy each other. The American Indians were broken into tribes and fought for years and year. So, these mobs and elitist bankers will start to destroy each other as well. Central banks will collapse. I know that doesn’t sound real possible right now, but I believe they slowly will.
Michael is (accidentally) right with his use of “CALvary” -where Christ was crucified, vs “cavalry”, -guys on horses, because, yeah, we’re going to get crucified big time!
Catharine the Great (Solari) says if we exercise our Constitutional rights we can get the mob and banks to REPAY 21 trillion they owe us. That would leave us with, let’s see, give me a pencil…yadayada…1 trillion to fix roads, plant the vineyards all over, stuff like that. So who lit the matches in 70 hour winds this week? Designer fires….
Ms. Clark
The trillions of tax payer funds will never be found because the money has been utilized in unauthorized manners by the deep state, where trails leading to are long since gone. I do remember Catharine saying that it was our constitutional right that these missing funds be repaid, but I was surprised that she thought it was possible with so many layers of deceit. You’re certainly right….”designer fires.”
She likes to point out the principles of things…always good to to touch base!!!
May as well ask a junkie to put back the $20 on your dresser…better resolve to hide your money better. The junkie deserves more compassion of course.
Greg, Dane Wiginton’s legal team filed a lawsuit against the US Department of Commerce.
http://www.geoengineeringwatch.org/anti-geoengineering-legal-team-sues-the-us-department-of-commerce/
One of the best,a good mind,thanks for having him on greg
Its not a swamp, its a septic tank! This man is a true hero.
https://www.youtube.com/watch?v=KmAHWQTnsj0&sns=em
Geez … just how many yrs do we have to hear these truths from all speakers….
Crying wolf numbs the senses…..
Mike,
It’s not crying “wolf” is crying math and it’s awful. Please keep in mind the Fed is STILL operating under emergency posture. By the Fed’s own admission interest rates are “abnormal” and its balance sheet is “abnormal.” Let that sink in. Everything is fine until it’s not. I am not telling you what you want to hear. I am telling you what you need to hear.
Greg
Greg,
Save your ink. Mike will be the first one on the FEMA bus.
Greg I agree The detractors did the same thing to Peter Schiff back in the early part of the century when he was calling for a subprime/ housing crisis He was correct as we know eventually
Great interview Greg: Time again to remind everyone to switch to a non TBTF bank, preferably a credit union. All the biggies are technically bankrupt and will bail-in your accounts in a NY minute. Also keep enough cash, food water for at least a 3 month period.
Know your neighbors; have a joint plan for if or when riots break out; inventory weapons and ammo.
andyb,
Please tell me why you prefer a credit union over a non-TBTF bank. After all, in general, there really is no difference between the credit unions and the non-TBTF banks as far as risk is concerned.
J … There could be a “little bit” of a difference … credit unions usually buy Treasury bills … while TBTF Banks have lots of derivative exposure … now if derivatives fail (and somehow Treasuries hold up) … then there could possibly be a case for “less risk” being in a credit union!
Paul,
I said non-TBTF banks. Also the credit unions I checked have a good amount of Federal Agency Securities like GSE Mortgage-Backed Securities. Some have Collateralized Mortgage Obligations (CMOs). Did not see much in Treasuries.
Please do not say something like this to the people in the USA tent cities. It would be painful for them to hear your recommendation.
Trump himself defaulted on a +$33 million obligation/backing by Puerto Rico for one of his real estate projects…what a grifter he is!
V.S. Please source this.
Greg
Did President Trump add $33 million to Puerto Rico’s debt by bankrupting a golf course there?
https://www.washingtonpost.com/news/fact-checker/wp/2017/09/30/did-president-trump-add-33-million-to-puerto-ricos-debt-by-bankrupting-a-golf-course-there/?utm_term=.5b979bfeb1dc
Greg:
Michael says, massive and unrelenting money printing is coming to an end. It would seem to me they can continue to print regardless of stock prices. Where am I wrong??
Flattop,
For whatever’s it’s worth, it was prophesied by a man that “there will be dollars on the ground and nobody will bother to pick them up.” So, I think cash will be in use for about 10 months after the economic collapse, but then it will become worthless. Gold and silver and possibly other metals will take it’s place, but after this, food and just everyday supplies will become more valuable than gold or silver. When the economy collapses, production/manufacturing will shut down and transportation will shut down. If we have an EMP that could shut down electricity all over the country, and that has also been prophesied by a very prophetic and Godly man. He prophesied these things back in the 1940’s, but they are all coming to pass like he said they would. There’s more too.
Greg…..I enjoy the analysis I read….mostly…but I call normalcy bias and “ fear porn” on the majority of the articles and interviews presented…..it’s , as Yogi once so eloquently penned, difficult to make predictions,…particularly about the future…..Examples..?..The great bo polny, so profoundly wrong when trying to give firm dates on predictions …..and others, if you get into specifics… How many have given predictions on the price of gold, silver…or the presumed upshot of interest rates and the falloff in equity prices…only to push off the arrival dates , suggesting that they’re early, not wrong……sorry, being early for months, years….is being wrong……Cycle theories have merit on the long time frame, e.g. Kondratieff theory,..but trying to fine tune events into weeks, months, even a few years, is a fools game imho…
Love hearing the opinions of Sinclair, Holter, Rickards, Nenner, Pento, Willie, Celente,et al…..but nobody can consistently successfully attach a time frame to what’s going to happen….I listen to your interviews religiously…and appreciate your efforts……but………….we could be looking at years possibly passing before any of these warnings coming to fruition…..
Jughead
And then again Jughead we could not. I’ve had plenty of people on who said the markets would not crash but even them are worried and you should be too.
Jughead
Sometimes I feel the same way (endless concern, never ending predictions, negative news….on and on). And then I look at what’s happening in Puerto Rico, Venezuela, and many other countries (starvation, rioting/chaos, mass murder, unimaginable living conditions). Throughout recorded history, it’s clear that great empires reach their zenith and then fall, which is reminder to me that ravaged America is not immune to this outcome at any time now. And if it takes years for this to happen, then I’m thankful for a few more moments of preparation and precious time with my family and good friends.
Great empires like the US can’t just go around stealing land, water, minerals and oil from other nations and expect no consequences … over time there is always going to be a push back by other nations … so now Trump has to ask for “an upgrade” to our nuclear weapons arsenal … and look at Israel … they also pushed too far … and now they have a direct Russian physical presence right in the Levant!
Amen!!!
America was this badly off in 1861…the future looked very dire indeed. Europe wanted that cheap cotton and didn’t give a damm about the Union. Only one leader helped…he gave us another 155 years. Anybody here know who that was? How good is your history? He loved the American experiment in a union of many different races, nations, and religions, though he was a devout Christian. Look up Tsar Alexander of Russia.
That was an era of huge expansion in the US Not really a great comparison with the present situation Deanna
Especially since America has given up on space – the final frontier.
Yes, I think that they’ve given up on space because they’re too busy spending mega bucks (probably the missing 20 trillion) digging under ground facilities & pursuing projects that aren’t in the best interests of the majority.
Ask me when when it all comes to fruition. . ..;
WHEN YOU THINK NOT! ◄ Matthew 24:44 ►
http://biblehub.com/matthew/24-44.htm
New Living Translation
You also must be ready all the time, for the Son of Man will come when least expected.
When the “sons of men” come on Nov 4 to create a color revolution … the “son’s of God” will be waiting for them with our shotguns loaded … and won’t fire until we see the whites of their eyes!!
When you listen to Trump he makes you think, can he really bring this economy back from the brink of death? It’s good to have listened to Michael Pento, brings me back to reality.
Think about it … when did N. Korea “ramp up” its nuclear program and missile tests … last year in September … exactly when Rhee Cheol-hee said N. Korea got hold of 235 gigabytes of Secret US Wartime Operational Plans (including a plan to wipe out the North Korean leadership) … once the Secret got out the warmongering neocons had Trump “ramp up” their nuclear war and regime change plans!
Along with NATO’s larger Baltic Forces now deployed at or near the Russian Front … NATO has now deployed naval forces to the Black Sea region … all designed to try and prevent Russia from helping N. Korea resist “regime change” by the neocon warmongers … who are intent on a US invasion of the Korean peninsula … most likely China and Russia won’t be threatened away … and the world will be dragged into a worldwide nuclear war just as the Satanist pedophiles want … so as to make their final sacrificial offering on Satan’s alter … the burning and roasting billions of people to ashes in nuclear fire and brimstone!! … http://www.zerohedge.com/news/2017-10-10/nato-launches-new-black-sea-force-target-russia
It may seem futile for one man to jump into the arena and try to save the Christians from being eaten alive by the neocon lions … but perhaps one man can make a difference … we will see!! … a long time ago a man named Jesus sacrificed himself to save the world … how many will follow his example??
Trump … there is still time for you to turn away from the Dark Side … we were so hoping against hope that “you” would be “the one”… unlike Mobious I’ve lost faith … prove me wrong … rise again like Neil did in the Matrix to kick the “controlling” neocons ass … or as Christ did to defeat Satan!
The desperate make big mistakes….cheer up.
Greg,
Your platform, and your style – always seems to bring out the best in those you interview. Pressure is mounting; and things must come to a head. Look for a world-wide round-table to prevent catastrophe to convene.
Thank you Charles H!
Greg
You can’t eat gold nor silver. IF the power goes out, MASSIVE amounts of people will die and the prize to be had would be food and water. There would be chaos in the streets, good luck lugging around your precious metals if you have to be on the move.
Thomas You are wrong historically Gold has always been a very mobile source of wealth Five pounds is worth 200 thousand dollars I agree food is the most important along with defensive weapons but some gold and silver could easily save your life Don’t dismiss them so readily
Agreed! Food and water are great to have but good luck hauling a barrel of water and bag of tins around if you are migrating.
Thomas: Lugging around precious metals will allow you to buy what food and water is available. Cant buy it with the credit card!!
Here is a good article from WallStreetonParade.com regarding this exact issue.
http://wallstreetonparade.com/2017/10/blaming-russia-for-major-u-s-problems-raises-risk-of-not-seeing-enemy-within/
“On gold, Pento says, “You’ve got to have 10% physical gold in your liquid net worth. It has to be physical gold that you possess directly.”
Is he betting more heavily on deflation than hyperinflation? Within the interview, he discussed liquidating the debt through hyperinflation.
If he or anyone is riding the fence, why wouldn’t 50 percent exposure to precious metals be appropriate?
Tad, as a money manager, Pento has to have some sort of “position limits.” It’s how money managers diversify. Dr. Michael Bury (key player in “The Big Short”), went all in (2006) shorting real estate before the financial meltdown. The crash did not start happening until 2007. He had a clause that allowed him to lock people in his fund, and they were pissed, until the real estate bubble popped. I saw an interview with Dr. Burry, and he says he only manages his own money now, and he does not have to worry about “position limits.” That said, if you think you are correct, and can sit on the trade, then you don’t have to worry about “position limits” either. I am not a financial advisor or money manager, I am just giving you my feelings here. All the best to you.
Greg
Put another way, he’s giving conservative financial advice most money managers would give. I understand the position limits.
I’m wondering how invested in physical metals he might be? Or James Rickards? Rickards has also mentioned being invested at a 10 percent level.
Tad
He knows that many listeners have different risk tolerances and other special circumstances that he is unable to access before giving individual advise. And as Greg notes, most importantly one needs to be in a position to sit on any trade for longer than you initially anticipate if you are making large allocations to anything.
It’s the only responsible thing to do – giving general conservative financial advice in a public interview.
Way too easy (and I would respectfully suggest, ‘lazy’) to lump China in with the debt-whores of the Western economies. Well-noted Kyle Bass recently ‘walked back’ his rather strident, ongoing opinions on China’s imminent doom, and I suspect many others will as this train-wreck plays out.
– Manufacturer to the globe
– Resource projects, agreements, alliances, etc., all over the globe
– Enough gold to shatter into pieces the $USD and the U.S. economy by extension, should they so choose – or be bullied into with aggressive U.S. trade/foreign policy.
– Debt? Hell yes. Owed to whom…?
And just think, all of the above could have rightfully belonged to America…
AP,
You are correct, however……
China and the US will still co-exist (as will their respective fiat currencies) in the many decades that lie ahead. Undoubtedly there will be a shifting of the axis of power.
That power may not necessarily be derived from the ownership of a Reserve Currency.
China is very strategic in its 10, 20 ,50, 100 yr plans.
Nonetheless…..Don’t be fooled by their projected innocence.
It would be naïve to think that China doesn’t possess ulterior motives.
I can foresee a time in the not too distant future where they will have dominance in every industry known to man. The will own it and control it ….ALL !
They will prosper in their golden age.
There is a reason that they have long dated plans. That way they can achieve their desired goals in a measured way, incrementally, almost under the radar if you will.
In hindsight you can witness their actions and formulate the WHOLE.
Nothing is by coincidence. IT IS ALL PLANNED.
Pento,
As usual,
Likely true though immensely boring.
Zen,
If you are not prepared for what is coming it will not be “boring.”
Greg
It is Pento who i refer to as boring as he says nothing new.
Zen,
We will have to agree to disagree. Thank you.
Greg
Greg No one is ready for what is coming.
Including myself.
I see Russian troops walking down my dirt road, and I am glad as I can be to see them. My be to my end, IDK
Zen Finance can be boring If you want excitement I suggest you go to the circus
boring is great as it means no one has lost anything!
Zen liked it, yet I think troubles in the dollar could start any day. Based on the fact that confidence is all that holds the dollar in place. 350 million in America holding dollars. 7 billion people in the world use it because of the need for oil. This is changing, the snow flake that causes the avalanche has landed. Oil will soon be traded outside the dollar. War is more likely then a dollar collapse. either way Store some food , and have a plan for clean water. I am planning for everyone just like you. My neighbors are bringing me food to store for them. We should all be ready, as a people to take care of each other above ourselves. Life in Pento mentality is far from boring
ZEN and site. Look around your room right now and try to find 1 item that has no need for oil to be in your life. Everything is dependent on oil. Countries around the world are dumping the dollar to gain oil.
Zen I come off harsh as the folks in this site know, but I deeply love you and every American that will take a simple look into what is happening world wide.. Not just the MSM stock report. Store some food for others.
Its really amazing how they have kept all of this debt from defaulting for so damn long. Why hasn’t PR defaulted already if not years ago ? Same with Illinois ? And countless other states, and the US itself ?
Who keeps buying and holding these bonds if they can’t be re-paid ?
Trump doesn’t need to say the debt is going to be wiped. All these people know that, yet bonds are still getting a bid, and yields keep going lower.
Apparently money printing and QE does work.
The evidence speaks for itself, as stocks have not even had a measley 5% correction since the bottom in 2009. While REAL money like gold, keeps getting plastered.
The stock markets WON’T CRASH anytime soon … the FED will keep propping up the stock markets as they unwind their balance sheet.
News flash for Michael Pento; there are no markets, only govt. interventions.
There is another prophesy: “The markets will be propped up, as if on high stilts. Then, overnight(3 day weekend), they will come crashing down.” We don’t quite know what will cause the stilts to be knocked out from underneath, but it will happen. We don’t know exactly when, but what I do is keep an eye on the Trump haters in this country. Another prophesy:”Great efforts will be made to correct the budget of the U.S. but will fail in the end.” You can ponder why these efforts will fail. How are some ways you would “correct” the progress being made? “The Elephant will fall over first, and then the donkey after that.” All these quotes by John H. Koyle
In the above comments on the Michael Pento interview I share the frustrations expressed about predictions about when the full financial collapse will occur. I am 77 years old and it is interesting to think about analogies between the pending global financial collapse and when my life on earth will come to an end. I can analyze my life expectancy from many angles. I have excellent genes for longevity, ideal blood work and excellent health—but there are far too many unknowns to assess: cancer, icy roads, even civil war or anarchy . Here is an important question –do I really need to know when my live will end? No! I don’t –But there is a greater question to be answered—Am I PREPARED– truly prepared? This I see as the essence of the Pento presentation. Preparation NOW. The tone of Michael’s presentation and that of others from previous interviews says to me that we may, in this pending holocaust lose things even more important than our life’s financial savings—liberty for our children and grandchildren for example.
I have prepared a will and have it in a safety deposit box but am I really prepared to die? I am a believer and in the Book of Matthew, Jesus clearly spells out that our love for God and our fellow man will be the basis for judging our works on earth. I am not as concerned for the former nearly as much as I am for the latter. I strive to treat people fairly and with respect but there have been a few events where despite my desire to forgive and forget, I have failed. I am counting on a generous application of GRACE. Michael is strongly recommending some gold but it is only a portion of the needed preparation. God bless.
Greg,
Lets live on the edge, and step aside a second by entertaining the notion that the stock market could GO UP 100…200…500% from here in the name of hyperinflation, instead of constantly looking for this so called “imminent crash.” Whats wrong with my logic? The US $ loses purchasing power every day here in the states. The world is losing it’s faith in it. It’s reserve status is getting closer and closer to the ax . The FED has already printed it into the grave, all that needs to happen is for all the dollars to begin the migration back to where they came from, and voila…………..break out the wheelbarrows. Equities could be in the stratosphere but it won’t mean anything, because so will everything else………..in my unprofessional meandering opinion.
JW Read Proverbs chapter 1. Surely in vain the net is spread in the site of any bird. The trap is set, question is who was watching? They lay wait for their own blood. Proverbs 1 deals with the stock market. It is worth the read., and why I got out in the bottom of the market.
http://symposium.net.au/?gclid=COyEs8eJ6tYCFdkKKgodp14JVQ
Really glad to see David Morgan is in Melbourne next month. What a hoot it will be!
I hope you don’t me plugging this Greg.
David Morgan has gotten a lot better at transmitting his knowledge in the past few years. In other words, putting it into terms that the layperson can understands.
Yellowstone Alert … To all pedophiles and Satanists … your world may soon be ending … perhaps you should bring your sacrificial children and babies to Yellowstone and throw them into the volcano’s magma chamber so your god Satan will look upon you with favor … although NASA has devised a potential strategy to try and defuse an eruption by drilling holes in the volcano and pumping water into the hot lava … I don’t think you guys should count on their plan working … when you know throughout history others of your evil kind knew exactly what to do to stop a volcanic eruption!! … http://www.zerohedge.com/news/2017-10-11/threat-supervolcano-eruption-yellowstone-greater-we-thought
Trump dose one thing in private and another thing in public. He uses a from of distraction to secure his goals.This is the basic of what Putin said about him, Trump.
Pat,
And you believe a communist over Trump? You do realize around 2 dozen journalist have died from gunshot wounds since Putin has been in power.
Greg
Yes, but in Russia they are straight up about assassinations, unlike America where people are just ‘suicided’.
And they are the ones you know about. Secret KGB
Hillary Clinton (on tape): “I have my public positions and I have me private positions…”
Explain yourself!!!!
Hi Greg,
Have you thought or tried to get Andy Schectman, Eric Sprott & Jim Puplava & on your show?
always delivering the high quality high value information watchdog,
Thank you GP!
Greg
Hi Greg,
Thanks for the great interview, the FED dwindling it’s balance sheet could be done without putting pressure up on yield,….instead of selling these bonds/MBS into the market they could be absorbed by the Exchange Stabilization fund, this way the bonds/MBS would be monetized. The exchange stabilization fund doesn’s publish it’s activity and doessn’t give accounts to many people.
Kind regards,
Daniel
Daniel,
Thanks for pointing out the role of the Exchange Stabilization Fund. None of the people who have been forecasting inevitable doom since ’08, even consider it, much less mention it. I think it’s a big part of the reason all these forecasters have been consistently wrong. Given their track record, one would think they would develop some humility, or at least research why they have been wrong, but they are so invested in their view, it’s obviously beyond them. This party will end, but NOBODY knows when. In the interim, prepare and live your life–worrying is a complete waste of time and energy.
PFFFF Greg,
Always the same stories!
Maybe this, maybe that,…could be,…perhaps… etc etc. Is this the man/woman who knows THE story or…….to look like a very important person.
Please tell me.
Regards Peter
Peter,
You want me to make something up? We face the same problems that are not fixed. https://www.thestreet.com/story/14338186/1/imf-nine-banks-that-could-struggle.html Get a gripe man!! This is reality not CNBC.
Greg
The person that wrote that article made a mistake. It says that those “nine banks represents about $47 trillion in assets”. It is more like $16 trillion in assets. The top ten largest banks in the world only have about $27 trillion in assets.
https://en.wikipedia.org/wiki/List_of_largest_banks
J,
You cannot use Wikipedia as a source. Not reliable.
Greg
Greg,
I looked at numerous sources in addition to Wikipedia.
http://www.businessinsider.com/the-worlds-10-biggest-banks-2017-6/
http://www.investopedia.com/articles/investing/122315/worlds-top-10-banks-jpm-wfc.asp
Of course I knew as soon as I read the article that $47 trillion number was wrong. I think $47 trillion is the total assets of all the banks in the world.
J,
You are correct sir! Good catch and I thank you for that. Not dogging you about Wikipedia I could not use it as a source at ABC or CNN but a lot has changed since I was there. Thanks again.
Greg
More than a little curious to see acceleration in de-dollarizing. Let’s pretend that the imminent conflict with DPRK-cum-China-cum-anyone else gains traction: The conventional conflict-if that’s possible.
Assuming a prolonged conflict, how will the military organize regional purchases of fuel and food from nations increasingly hostile to US hegemony? Provisions from US mainland or Hawaii via military transport could be iffy through dangerous waters. Will Japan and South Korea be held in check either militarily or financially (cyber disruptions) as to be ineffective in any form?
I don’t think Trump is initiating a peace flotilla by any means. DPRK is not Libya or Iraq. They probably won’t negotiate away their nuclear program, which would later invite a subsequent, less than predictable US-led invasion for North Korea’s mineral resources.
China and Russia have different ideas.
Then again, the president’s attempts at war mongering with Iran, Russia, China, DPRK is probably devised to keep US markets “stable” and allows him to justify increased defense budgets.
I wouldn’t rule out Kim Jong Un acting preemptively with a nuclear first strike.
Too many countries feel threatened by America’s posturing. Russia, Iran, Turkey and China have all been marginalised. That is such a large chunk of the world you have to ask with irony, has America isolated itself?
Mr. Hunter:
Thanks! I’ve been waiting to hear from Mr. Pento. I think we now know the general outlines of how this is going down and we are now “just” teasing out the timing and the details — which are important as we go about making our final decisions about how to position ourselves. These are really interesting times.
Yep. The trends are clear, the timing not so…
Another great production, Greg!
The jury is still out on who uses more starch on their dress shirts, Pento or Holter?
Finally someone in Washington is creating competition among oligarchs. Health care competition is a good thing. Hat of to you MR Trump.. Thank you President Trump.
If nothing else this brakes the mold of other presidents. Ron Paul must be happy today.
having or showing the attitude of people who speak and behave in a very formal and serious way because they believe that they are better, smarter, or more important than other people =Pompous.
Rejects welcome at my garage. Do drop in.
Uh, aren’t you a birther? Don’t you follow Sean Hannity and Alex Jones?? Don’t you believe that god appointed a sociopath as president? Don’t you believe every phony conspiracy theory made up by Fox News? Wikipedia is Shakespeare compared to this site. Geez, talk about zero self-awareness!
Does this mean you aren’t going to listen to the Pinto interview? 🙂
I’m a boomer and a doomer and a gloomer and a birther and a truther and a denier and a slaver (as in tax slave)…but not a midnight toker and certainly not a Demonrat space cowboy! 🙂
And you believe everything the lamestream media and the Demorats tell you.
Geez, talk about zero self-awareness!
After we remove all the Satan worshiping pedophiles … we should go after the “pushers of drugs” who are killing on a scale as great as the pedophiles … http://www.zerohedge.com/news/2017-10-12/worse-big-tobacco-how-big-pharma-fuels-opioid-epidemic
Really like this guy, direct and straight to the point.
What is it with Pento ?
I see great contradictions in what he said.
“Its all going to unwind by mid-2018″….”Stock, Bond Real Estate Market Crash”
and yet ….he is in the market….as a money manager….who on several occassions emphasised that he can take care of your investments……using his knowledge and experience(“we know” )…..to help weave through this uncertainty.
The contradiction in my eyes is one where (Hedge Fund) / Money Managers like H Hendry as you mentioned…closed his Hedge Fund…..because in reality his Macro Economic views didnt eventuate…he doesnt understand the economic trends because they are distorted. They are fabricated. MARKETS dont exist. Its a GAME.
Reading between the lines in many of Pento’s comments …..everything is in a Bubble….its false…..AND YET …he’s ready willing and able …to take your investment funds and “PLAY”……How??…..because he is hedging the certainty of Inflation & collapse in fiat currencies.
Everything (in his eyes) is a factor of the potential QT or unwinding – Central Bank becoming net sellers.
Has he been wrong…last few years….YES…..but he’s been making money.
Will he be wrong again….???
He has hedged portfolios …..because he knows whats coming!!!!
Some see the madness and want out….regardless of a potential exponential move in the short term. So they think there is MADNESS IN TRYING TO PROFIT.
Others will play THE GAME….front running the FED…..understanding the MO of the PPT…..and hedging. So they think THERE IS PROFIT IN THE MADNESS.
Pento’s not shy with his long list and well supported WARNINGS about what lies ahead.
But he’s just playing the shell game….plain and simple.
At the END OF THE DAY….no one wins if the financial system implodes….hedged or not.
Normalising Interest Rates…..NOT IN OUR LIFETIME. The Market wont take care of it….because the MARKET IS THE BIS, FED, BOE, ECB, BOJ . We are in a ZIRP paradigm indefinitely. To move away from that would create a BLACK HOLE. That simply cannot happen.
Yes, the markets are perverted by the Feral (yes, feral) Reserve and other entities so the free market does not exist.
You can’t have a free market when you have a politburo attempting to control money supply and interest rates.
We don’t have a society based on free market capitalism. Instead we have a neo-fuedal, gulag, plantation, casino, crony-cr@pitalist, deb-based, fractured reserve, fiat based economic outhouse.
All the makings and trappings of a Command Economy my friend.
Who said Communism didn’t exist in the World and especially in the US?
A precursor to One World Government…..they know best….NOT.
oh snap!
Mr. Greg,
Negative real interest rates is theft, no doubt about it.
That makes Randal Quarles a criminal and there’s no doubt about that.
He is just yet another criminal swamp creature feeding off his livestock and that would be us!
We should all have plenty of quarrels with Quarles.
As far as NK goes, I could be completely wrong, but I see no military action in the foreseeable future. I am going on record with that prediction and time will tell how right or wrong I am.
Another great interview! Silver coins are always good to have around in case of emergencies. Ron Paul and Chris Rossini did an excellent video today (Friday the 13th) on the government’s war on cash. With negative nominal interest rates, the government must eliminate cash for it to “work”. Check out the Ron Paul Liberty Report today.
Thanks Tim!
Greg