Fed Panic Stricken About Inflation – Michael Pento

By Greg Hunter’s USAWatchdog.com

Money manager and financial writer Michael Pento says the federal government is “burning the furniture to heat the house.” Pento contends, “If you are burning the furniture in your house to heat your house, guess what, you are not too far away from freezing to death.  The government is now selling its assets to try to make the fiscal situation look better.  We have so much red ink in the government today.  Our debt to GDP ratio is now way above 100%.  The budget deficits are way over $1 trillion and going much higher.  The government is forced now to sell assets to try to make it look better. . . . They’re so desperate for money that they are draining the Strategic Petroleum Reserve.  They are selling 100 million barrels and draining the Reserve down 45%. . . . That comes to $6 billion.  We are so desperate for money from any place.”

So, what does the Federal Reserve think about the U.S. economy? Pento says, “The Fed is worried about intractable inflation.  They are panic stricken. . . . What you have to understand, and these people will never understand it at the Federal Reserve, is that inflation is about a market psychology about the purchasing power of its currency.  When the market loses faith in a currency’s purchasing power, you get inflation, and it could go hyperinflation.  That’s coming down the road I believe.  It’s not coming because people are becoming prosperous and working and finding employment.”

Pento says the biggest unreported story is the skyrocketing interest rate of LIBOR. What’s that?  Pento explains, “LIBOR, and people don’t understand or talk about it, is the London Inter-Bank Offered Rate.  This rate has gone from 0.3% at the end of 2015 to 2.3% today.  The London Inter-Bank Offered Rate is the rate that is applied to $370 trillion of loans and derivatives.  I did not say “B” billion or “M” million, I said “T”.  $370 trillion worth of derivatives and loans, from credit cards, to student loans, to auto loans are priced off of LIBOR. . . .  That is the biggest reason why the stock market is rolling over because the cost of borrowing money . . . is going up very, very sharply. . . . All of this is going to hit a crescendo in October of 2018.”

Pento says gold prices will naturally be going up. Pento explains, “Why do I think gold is going to prosper?  Gold prospers most when two conditions occur.  One, the dollar rolls over compared to other fiat currencies.  I think that’s going to happen.  Even more so the case, I believe real interest rates are going to fall.  Real interest rates are going to fall along with nominal rates come October.  There is going to be a watershed epiphany on the part of the Fed that they can no longer raise rates.”

Join Greg Hunter as he goes One-on-One with money manager Michael Pento of PentoPort.com.

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After the Interview:  

There is free information, analysis and videos on PentoPort.com. To buy a copy of Pento’s book “The Coming Bond Market Collapse,” click here.      

Comments
  1. Mike R

    Pento is not the only one calling for rates to go lower toward the end of the year. By june its very likely, the Fed will suddenly be forced to realize they cannot do 4 rate hikes this year. Maybe just 3, maybe only 2. So they are done. Worse, like Pento says, they are going to have lower rates (AGAIN !!!), and not good, so that means their is no doubt a MASSIVE QE4 coming. This will only be occurring, if the stock market from here on out, trades sideways to mostly down. Lower highs, and lower lows. Lost of whip-sawing, but again mostly down. This will be brutal for Trump since he loves a higher stock market so much, because to him, its his indicator of a so called ‘healthy’ economy. He thinks stock price indexes like the Dow and the S&P 500 are way more important than what any polls show about his approval ratings.

    The Fed will be very LUCKY if they get off one more rate hike. They really should have started these hikes, two years sooner, but now its just too late, and they cannot keep jawboning the markets higher.

    Its going to be very sloppy for the consumer. They’ll be very confused.

    • Maria das Santos

      Without these rate increases what will happen to the pension funds?These hikes are needed by pension funds,

      • Barn Cat

        Pensions are dead. They’re built based on 7% returns. You can’t get 7% in the bond market anymore when interest rates are 3%. The stock market will drop by 90%. If interest rates climb they will be exceeded by the rate of inflation. You can count on the government continuing to lie about how bad real inflation is. It’s about 7% now.

        • Dr Darryl Jewett

          Thanks for the comment, Cat. But ‘real’ inflation is actually closer to 12%. Even worse than you think. And it’s gonna get a lot worse than that.

      • Paul ...

        Pension Funds could buy gold and silver “to make up for lost interest” if the Fed goes back to lower rates and ever more money printing to balance the budget!!

    • Paul ...

      To keep consumers from total confusion and depression as they have to burn their funiture to keep from freezing to death … and as they eat their seed corn to keep from starving to death … Trump must keep the stock market rising (so as to give people “some hope” that the economy is just fine because the stock market is rising) … Trump knows it is going to take hyperinflation to keep the stock market rising (the way the Zimbabwe stock market rose to new highs with hyperinflation) … now … what creates hyperinflation? … printing money we don’t have and war is very helpful !!

      • OutLookingIn

        Paul… You are correct Sir.

        The “Deep State” desperately want WAR.
        Hence the Russia, Russia, Russia, propaganda, along with the punitive tariffs announced against China. The US stands NO CHANCE against the Russian/China alliance. They gave fair warning today. But war is the only way to hide what the deep state has been up to and they know it!

      • Frederick

        The stock market hasn’t been rising for awhile now Paul It topped out a couple months ago and has been choppy sidewards trading ever since It looks scarily shaky to me to be honest

        • This Sceptred Isle

          It looks like they will have to crank up the interventions again.

    • Twox2

      Pento said lower “real” rates. Could he be saying nominal rates will continue higher, but inflation will outpace the rise in rates so that real rates will actually be falling? Under this scenario, global investment demand should decline, and destruction of the currency and mis-appropriation of capital will continue apace…

      • JMiller

        Pento said that both real interest rates and nominal rates are going to fall come October.

    • Chip

      Funny, during the campaign Trump was talking about what a HUGE bubble it was… Chip

    • Peter Schiff

      Peter Schiff also is calling for QE4.

  2. Maria das Santos

    Thanks Mr Hunter and Mr Pento,just astonishing.
    However,if you Americans think that our economy here in the UK and Europe are responsible,then something is lost in translation.Our economies are abysmal.Large companies in Europe are issuing bonds,who did not know what a bond was until recently,which are absorbed by the deep printing press of the European Central Banks,that promised never to buy anymore issued debt.These bonds at the ECB never see the light of day again.Has this happened once or twice,no Mr Draghi and his Goldman Sachs alumni are consistently month after month riding to the rescue of sclerotic Europe,I can only reiterate,you Americans think you have problems?
    Arcadia,California has become China,parts of Jersey you need to have Russian as a primary language.Even Beverly Hills you will need to be fluent in Russian,Chinese and German as so many rich Europeans and Chinese are fleeing to the USA.Even rich Israelis are holding their money in US Dollars,including Mr Netanyahu.There is a clear message in there somewhere and the irony is we “deplorables”seem unable to fathom it.For me lodged here in the UK it screams run for the US Dollar the last refuge.Whilst you Americans are just astounded at your government’s profligacy compared to countries here in Europe and the UK your government seems full of restrained restraint.
    Here in the UK,our dear City of London progenitor of “hypothecation and rehypothecation”,is incapable of allowing numbers to defile their facade of rectitude.However,before this is all done many of these agents will be spending time in US prisons,after all you can’t imprison your elite.
    As our governments lies,lies and lies some more and then finally goes to war,your children’s blood will be spilt for the glory of the bankers who brought us all here along with our politicians.

  3. Dave

    I always enjoy the Sage of Colts Neck. I think he would agree that the Fed is jammed with broken heroes on a last chance power drive. They’re on the run tonight, but there’s no place left to hide
    Great work Greg

    • Peter Schiff

      I don’t know any Americans who blame UK for anything.

      • Frederick

        I’m American and I blame them for covering up for Jimmy Savile

        • This Sceptred Isle

          Yes, good friends with Thatcher and Royals. Apparently he was procuring children on behalf of the rich and powerful. The charity work gave him access to hospitals and care homes.

  4. Wondan Valley girl

    F.B.I. Let him join up!
    https://www.youtube.com/watch?v=WbvR1VtfShw
    Adolf Hitler’s British Nephew Who Joined the U.S. Navy

  5. Anthony Australia

    Thanks so much Greg.
    These swings on the DJIA are beginning to scare me.

  6. Tall Tom

    Hyperinflation,
    When you go to Wal-Mart and the prices on the shelf
    have you thinking your at Neiman Marcus.

  7. Phoney $3.00 dollar Bill? Clinton, where is you?

    Stormy Daniels’ ‘Super’ Dilated Pupils Spark Accusations She Was High On ‘60 Minutes’ Examination
    Now that CNN’s Anderson Cooper has completely embarrassed himself with Stormy Daniels, everybody is asking was washed up porn star Stormy Daniels high on drugs for her highly anticipated ’60 Minutes’ examination? You couldn’t help but notice Daniels’ dilated pupils in all the pictures from the interview and in taking a second look accusations of drug use are ahbuzz the internet. Yet only silence from Storm, her lawyer [till now; see below] and the mocking birdbrained media, DUH?
    Why would Stormy Daniels’ pupils be so dilated in such a bright room?
    @MediaJuggernaut
    Did 60 Minutes Just Put An Addict On National TV? Stormy Daniels Eyes Are EXTREMELY Dilated. I Worked In The TV Industry For Years, Lighting Is Very Harsh & Your Pupils Contract, Not Dilate…
    But Hey, She’s Totally Credible🤔

    @SundayGirl727
    Replying to @MediaJuggernat
    Poster girl for the opioid epidemic?

    @JFNYC1 10h10 hours ago
    Where can we get some more Stormy? It sure looks like Stormy Daniels #60minutes with genius @andersoncooper added a couple of points to Trump’s approval rating.

    http://www.thegatewaypundit.com/2018/03/stormy-daniels-super-dilated-pupils-spark-accusations-she-was-high-on-meds-for-60-minutes-interview/

    Stormy Daniels’ Lawyer Is Trying To Explain Away Her ’60 Minutes’ Coke Eyes
    http://conservativeangle.com/stormy-daniels-lawyer-is-trying-to-explain-away-her-60-minutes-coke-eyes/

    Some have even asked is ex CIA spook Cooper bringing back MKUltra?
    https://en.wikipedia.org/wiki/Project_MKUltra

    Melania spoke at event after ex-playmate apologized just before Daniels examination.
    https://www.youtube.com/watch?v=RgFSDjFaWCA
    CNN, Also know as the Clinton News Network.

    • Frederick

      Stormy this and Stormy That Who cares?

  8. Solomon

    The banksters have rigged all of the economics to steal wealth and own and control everything. Hence, the specific reasons why there are no free markets. SO,…………………..the real .when do all of the international banksters who planned and caused all of the major financial problems get tired, imprisoned, and eventually hung.

    • Paul ...

      Solomon … we can easily hang the Fed out to dry … if we bring “integrity back” to the audit procedure at Fort Knox … but because the Fed banksters have likely stolen all our Fort Knox gold (under Clinton) and replaced it with “gold plated tungsten bars” they will never allow a “real” audit … here is a way Trump can get around the Fed continually blocking “a real audit” … Trump simply has to sign an Executive Order … Requiring the Treasury “to melt down and recast our gold bars at Fort Knox every year” … to guarantee their authenticity … and have all the Fort Knox gold recasting into gold bars of .999 purity “by a reputable international refiner” noted for their reliability and integrity!!

  9. Phoney $3.00 dollar Bill? Clinton, where is you?

    It’s been 25 years since old Bob Hawke held the top job at the helm in the lucky country of Oz, Australia. Back then like the Trumpster today, he was loved in spite of, or maybe because of his many imperfections. As you’ll see, today Bob is even more popular than ever and still wonderfully in love with Blanche.
    https://www.youtube.com/watch?v=jW-thSZX0VU
    May Donald and Melania’s future be as bright as Bob’s, despite having to lead the worlds remaining super power, the Anglo-American.

  10. james

    April 4th 2018, with the interviews you have had so far this year, ALL sound like 2017, 2016, 2015, No collapse, No Martial Law, No Dollar Collapse, No Gold Spike, No FEMA Camps, No Gun Collection, ect….. Enjoy the interviews, if it is basically wash, rinse, repeat of previous years.

    • Greg Hunter

      James,
      The problem is the same and getting bigger–it’s debt. Not making it up. There are historic manipulations and outright crime being employed to prop it all up. You would have had a market crash and martial law under Hillary.
      Greg

      • james

        Agreed, debt is a huge problem. Manipulation has been going on for 40 years, and agree its criminal. The market could go up for the next 7 years under Trump, and I agree Hitlery would have been dissastorous for this country. Just seems like it the same fear we have been talking about for the last 4yrs, thats how long ive been following ur site. Keep up the good work, Fear not, GOD is in control.

        • Greg Hunter

          No James not like this. 40 years ago every central bank on the planet was not buying every bond in sight to hold rates down. What we are seeing now is criminal activity that is of the charts, and bond buying by central banks which the world has never seen before. I do agree to “Fear Not.”
          Greg

          • JC Davis

            Greg I think the only way to clean the swamp is to set up a complete new government next to the one we have to investigate the present one.

      • Alex

        I don’t understand why you Americans are concerned about your debt. After all, about 60% of the world trade is being done via the US dollar – unless it changes I see no problem. A new crisis – just print more dollars and export the USA inflation to India, China, Europe, Japan, etc. If the petrodollar dies, I would be concerned if I were an American, but as of now the US dollar is a safe heaven for many people (just ask Venezuela). It does not mean people in the USA won’t feel the pain as well if a new crisis strikes, but I see no hyperinflation there in the near future. Just my 2 cents.

        • This sceptred Isle

          Currently, US and global debt levels are increasing at an exponential rate but economic growth is not. Draw your own conclusions.

          • Alex

            So what? Japan’s debt is over 200% of her economy and yet the standard of living is way higher compared to let’s say Russia, who has a very low government debt. You might see unprecedented levels of printed dollars, but this will not be the end until there is petro dollar. Plus let’s not ignore things who might turn into US advantage – a hypothetical collapse of the EU might actually support the USA dollar and economy – the transfer of capital from Europe to USA will do the job.

            • This sceptred Isle

              That is a slightly naive comment. Your logic seems to be that because something hasn’t happened yet it won’t.

              Japan’s economy has stagnated since their bubble popped in 1990. Since then their debts have mushroomed culminating in Abenomics. Why do you think that the country with the highest debt levels has engaged in the most aggressive form of QE? Think about it.
              Japan has been able to keep afloat largely because…
              1) they are neighbours of China and benefitted from Chinese/SE Asian growth.
              2) Japanese debt is held largely by the Japanese population and not predatory global bankers. Consequently, the interest rates on the debt has been low.
              3) Wealth is among the most evenly distributed among western countries.

              Nevertheless, all is not bright in the land of the rising sun. The Japanese are very adept at covering up problems and ignoring important issues.

              “In 2013, the Japanese government recorded relative poverty rates of 16% which was defined as the share of the population living on less than half the national median income. This was the highest on record.”

              “OECD reported in July 2006 that Japan is native to high rates of relative poverty. OECD’s another report stated that Japan was second worst in poverty among the OECD member nations, in the mid 2000s.[1] The OECD, in April 2011, placed Japan at the 29th position out of 34 member nations, in the list of percentage of population living in poverty. With 15.7 percent of people in poverty, Japan was above the average percent of 11 among the OECD member states. Japan’s 15.7% is above countries which have fewer resources and are less developed than Japan, namely, Slovak Republic (6.5%), Slovenia (7.2%), and Poland (10.1%) Poverty rate is increasing at an alarming rate of 1.3% in Japan, since 1985. The poverty rate increase average is 1.0% annually for all other OECD member nations.[3][8] The OECD report places Japan just below U.S.A., which has a 17.3% poverty measure, statistics indicate that U.S.A. has been cutting down on poverty, by a 0.7% decrease since 1985.”

              “With regard to poor children in Japan, it has been estimated that 3.5 million Japanese children – or one in six of those aged up to 17 – belong to households experiencing relative poverty, defined by the OECD as those with incomes at or below half the median national disposable income.[12] However, according to Japan’s Health Ministry statistics, as on May 2017, 16 percent of Japanese children live below the poverty line.[13] Japan has some of the worst wealth inequality and highest rates of child poverty in the developed world, according to a Unicef report released in April 2016 that ranked Japan 34th out of 41 industrialised countries.[12] It has also been estimated that only 200,000 of the 3.5 million poor children receive child support”

              https://en.wikipedia.org/wiki/Poverty_in_Japan

              I respectfully suggest that your view of Japanese prosperity is 30 years out of date as aging demographics and the increasing debt levels take their toll.

              • This sceptred Isle

                A collapsing EU is, as you admit, hypothetical.
                If you are staking future American prosperity on retaining petodollar status then you are reliant on other countries agreeing to use it thus. There are political reasons why countries would want to move away from transacting in dollars as well as economic ones, for example, to minimise the effects of US sanctions.

                • Alex

                  Do you sincerely believe that countries have a choice to use or not to use the dollar when they trade between each other (especially oil)? Do you also think that it is that easy to break up with it and start using your own currency in a bilateral trade? I assure you it is not as Russia and China have been talking about ditching the dollar long ago – I think Putin was talking about it in 2008 in Germany! Ten years later there are still talks about it, but in reality nothing significantly has been done. And it is naive to believe that the USA will simply let Saudi Arabia, for example, to leave the dollar trade and embrace the RMB in exchange. About 1000 military bases spread around the world – it says it all, I believe.

              • Alex

                Hah. Did it ever occur to you that there is a big difference of being poor in Japan and being poor in Poland, or Slovakia, as you have mentioned both countries as an example? I personally know what being poor in the UK is and I can tell you straight that it is far better than being ”middle class” (as much as it exists) in Poland, or Bulgaria, for example. Japan was simply an example. But since you are so catchy let’s go with Belgium, Italy, Spain, Greece etc – all of them have much higher debt compared to China, Bulgaria, Poland and Russia. You seem to believe too much in statistics done by statisticians who sit comfortably in their chairs and never bother visiting the countries they have been researching. It is a fact that a regular Chinese guy would always have a better standard of living in indebted Japan, if he does the same job..the same goes for a Bulgarian, who would enjoy a better living lifestyle in Greece, a Polish in the UK, etc.
                And yes, the USA hasn’t gone bankrupt yet. I never said it was impossible, so don’t put any words in my mouth, please. I simply stated that it is quite easy for the USA to export inflation with the petro dollar. This is a fact and I don’t see why you need to argue about it – as long as the rest of the world trades in dollars, the USA will be safe. And the rest of the world will continue to trade in dollars, unless Russia and China challenge the USA militarily. Because the USA prosperity relies on 3 things (petro-dollar, military complex, and technologies) but the core of it all is the petro-dollar. Hence the need to get rid of anyone who decided to sell oil for euro, or any other currency (Libya, Iraq)..Hence the need to have about 1000 military bases spread around the world – to protect trade, but trade in dollars. I don’t see how the dollar can die soon – the EU states and the UK are simply vassals of the USA, Saudi Arabia is still in the USA camp along with most of the gulf states, Canada, Australia and Japan are there as well. It is just Russia, China, Iran and a few bankrupt countries such as Bolivia, Venezuela, and North Korea who actually oppose the USA in some ways. The rest of the world simply follows the master and trades in their indebted petro-dollars. If the USA prints more dollars, what will Europe do? What will Canada, Japan, Australia do about it? There is only some chance for China with the launch of the petro-yuan, but international trade in Chinese RMB is very low, compared to the US dollar.
                Last but not least, Japan did not keep her standard of living due to China…this is actually quite inaccurate. Japan has technologies, produces cars, robots, nanotechnologies, etc. Japan’s way of ruling companies is nothing like in the west and it will be right to say that probably the best asset she has is her population who regularly overworks and has no personal life, but is productive and well-educated. Sure, trade with China helps as well. But it is not the most important factor. And still, a stagnated Japanese economy is way better than the growing economy of Poland! But that was not the point of our discussion – it was the bankruptcy of the USA.

        • JC Davis

          AIIB, CIPS, and They are now getting away from trading in dollars. They are tired of suffering because of the dollar. The tide is turning.

          • Alex

            It seems like a drop in the ocean to me. Time will show what the destiniy of the dollar will be, but there is no other stable currency at the moment! The EURO? The pound, or maybe the yen?

        • Frederick

          Alex That’s the problem The petro Dollar IS dying

          • Alex

            It might have started, I agree. However, things like this normally take a lot of time – we are not talking about 2-3 years. It will probably be a slow process taking about a decade in my opinion. Now, it is possible for something to escalate it – a trade war, for instance – especially if EU, China, and Russia all side against the USA. Highly unlikely though, in my opinion.

            • JC Davis

              Tic tock said some slow and some fast. God has a plan to let Evil look like it has control

      • ADevil

        But Greg, in the end isn’t a market crash or massive correction what truly needs to happen in order for things to get better much later on? The problem I see (one of them anyway which feel never gets much attention) is that no administration wants to preside over a said crash/correction. That makes it more difficult to trust either political side..

      • Red Dragon Leo

        Great post as always Greg… and I totally agree with your thoughts on Killary as we would have certainly had martial law with that psycho witch!

        It hard to know the exact “when” part of any crash as “they” manipulate everything to delay it longer and longer out until it gets so bad that it must happen… and that’s where we are now I believe.

        Red

        P.S. I reposted your article on my site and added my own thoughts as well. Hope you don’t mind.

      • John

        I agree with James.

      • Hugh

        Greg,
        Sorry, but James is right, except for one thing, its been going on a lot longer than 2015. I heard this same thing from David Stockman 7 years ago. Same thing in every interview. Jim Rickards has written 3 books. Its getting very long in the tooth. Yes, we all know debt is huge everywhere. BUT NOBODY CARES!!! Gold and silver are suppose to be the safe, but they continue to control it. Mining stocks (HUI index) are valued as if gold is at $350.00. The powers that be can put money anywhere it needs to go, whenever with these super computers!!!! Todays stock market is a great example. Over 500 points down and we close 230 points up. You need to find a new book, this one has been talked about from cover to cover to many times.

        • William Stanley

          John and Hugh: I’m reminded of the camel’s back: Just because we’ve been loading the camel for a long time doesn’t mean that the breaking of its back will not happen. As many have pointed out here, it’s impossible to tell exactly when it will happen. However, with present policies and the many stress fractures that are already evident and getting worse every year (e.g., unfunded liabilities and debt generally) the final breakdown is, indeed, mathematically inevitable. Moreover, the general outlines of that breakdown are also discernible, e.g., social unrest, loss of freedom, and desperate financial hardship for tens of millions, if not hundreds of millions, of people.

          • This sceptred Isle

            Exactly right William. As I recall, many people said that tech stocks were not in a bubble in 1999 and that the housing market was not in a bubble leading up to 2008. I guess people thought valuations would continue to go up as we had entered a new paradigm. The trends are clear but the timing is not.

            The problem with debt is:
            1) The growing disparity between growth of debt and growth of the economy.
            2) Rising interest rates.

        • This Sceptred Isle

          To be fair, since I have been reading Jim Rickard’s books for a few years he has predicted the reset would be around 2018. But he stressed that it was and educated guess and that it could happen before or after 2018.

      • susan

        Greg, the difference is that we have a president we can trust and not be certain of going into a fema camp. I don’t feel that our government will come after me now.

    • Donald

      “April 4th 2018, with the interviews you have had so far this year, ALL sound like 2017, 2016, 2015, No collapse, No Martial Law, No Dollar Collapse, No Gold Spike, No FEMA Camps, No Gun Collection, ect”

      Yep, I agree… The situation is definitely peculiar. ALL the experts have so far been wrong – for years now. All their predictions have been based on the situation of the past where price discovery was largely left to the markets. But today, coordinated central bank intervention and fake media are working together to set prices through derivatives, fraud, paper printing, etc. Unfortunately, there is nothing to compare to. That’s what our world has devolved into. A world of facades, lies and fakery. Likely it will take a black swan event to collapse the system and force the reset that’s been talked about forever now. Will such come? I believe it will and the Middle East is the place to look. The trouble with this is it could happen in a few days from now or a few months from now or longer. But happen it will. Also, if the current trends remains in place, in another 10 years there will be an additional 850 billion people added to the world’s population. If you think the current problems in the world are extreme, what do you suppose things will be like 10 years from now?

    • ROSS

      Infinite money has glossed over a lot of collapse scenarios but with the launch of the petro Yuan the pace has quickened.

    • Charles H

      james,

      Enjoy while it lasts. Don’t cry or recriminate when it all goes south. Read the history of Venezuela: it was rich and promising. Not now. If they get a leg up – it will be surfdom to Russia, China, or whoever recapitalizes their petro-industry.

    • Jerry

      James,
      That’s what the globalist want you to think. Go ahead and grab that brass ring. Just remember that it might be a pin on a grenade. Normalcy bias has concequences. Like death. People walk through life everyday thinking nothing will happen to them.Until it does. The money printing from 2008 has bought us more time. That’s all. Nothing has changed. The markets are rigged to keep the system going. That’s why we’ve had no collapse. But guess what’s? The secret is out. The Chinese have created they’re own system and in short time will be stepping off and then we’ll see how the central banks do when they can’t run the global markets.

  11. Rob

    The next crisis is all about destroying currencies globally as this has been in the works since 1988:
    https://www.zerohedge.com/news/2017-07-09/economist-get-ready-world-currency-2018

    It can not be a coincidence that the whole system is more leveraged than at any other top in 100 years. This is complete collusion on the part of most central banks coming down from the BIS who is loaded with satanists hanging out between there and CERN.

    The masses already have a physical mark in their retina or hand/finger prints. All that’s required to keep them from buying or selling is to phase out cash and replace it with a gold backed crypto currency riding on the back of block chain riding on the back of the internet. Then do away with passwords thus requiring them to burn their retina or hand/finger prints to access their iPhone to access the internet to do any future purchasing. It does not matter how decentralized the crypto currency is if the gate keepers of the internet refuse to allow them to access the internet with their iPhone if they do not comply with the beast:
    Revelation 13:16-17 And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; (17) and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.

    Our Father proved His physical children “Israel” and now He is about to prove His spiritual children “Israel”:
    https://sumofthyword.com/2017/12/19/all-israel/

    History(His~Story) always repeats:
    Ecclesiastes 1:9-10 That which hath been is that which shall be; and that which hath been done is that which shall be done: and there is no new thing under the sun. (10) Is there a thing whereof it may be said, See, this is new? it hath been long ago, in the ages which were before us.

    It is all part of creating distractions from global corporatism controlling the world through food:
    https://www.independent.co.uk/life-style/companies-control-everything-y…

    That will morph into this:
    Revelation 13:16-17 And he causeth all, the small and the great, and the rich and the poor, and the free and the bond, that there be given them a mark on their right hand, or upon their forehead; (17) and that no man should be able to buy or to sell, save he that hath the mark, even the name of the beast or the number of his name.

    Over the next 7 years from this October:
    https://sumofthyword.com/2016/10/04/the-rapture-of-the-church-is-after-the-tribulation/

  12. Walter Baumgarten

    Last week I received an email from our Township’s bond counsel asking if we were planning to roll over our $3.4M municipal debt into a hard Bond to fix the interest rates because rates are going to skyrocket. As I have written here before, municipal notes are 10 years in duration but must be sent out for bid every Spring and the rates change every year – they have doubled each of the past two years. I was able to get the votes to pay off another $845K in notes out of this year’s budget, but if the rates on the remaining notes doubles again as we expect it to, the P&I payments next years will be even larger even though we paid down the balance by $845K. In another year or two, municipalities will find that the increase in interest will eat away so much of their revenues that they will have NO other choice but to initiate huge tax increases to keep afloat. It happens slowly so people cannot grasp the danger, but with the amount of debt out there, if rates rise as quickly as they have been and are now, things are going to get ugly!

    • Greg Hunter

      Thank you Walter for adding the real world street reporting!!!! Those rates are probably based off from LIBOR.
      Greg

      • Walter Baumgarten

        Also Greg, people do not realize that the market sets the rates, not some banking entity. When risk goes up, potential lenders will bid much higher rates accordingly. Last month my mayor was advised during a legislative session in Trenton that all New Jersey municipal debt had been downgraded by the three agencies to “dangerous”. You can bet your boots that this will have a huge impact on what we see when the bids come in. I will report on that when it happens.

    • Paul ...

      Walter … you must begin to think “outside the box” … take that $845K and instead buy about 50,000 one ounce silver coins with it (and lock them away in the Township’s safe) … then when silver goes to $68 dollars per ounce (very very very possible and soon … perhaps even this year) … your 50,000 one ounce silver coins times $68 dollars will give your Township the $3.4M to pay off their entire municipal debt … but to take advantage of the coming “debt forgiveness” that is inherent in owning precious metals … you must actually own some (paying down the debt should be of secondary importance)!!

      • Walter Baumgarten

        That has always worked for me on a personal basis and I agree, but as the odd man out on a 5 man Committee, I lack the votes to do that. Thank you for the wise suggestion though.

  13. BRIE soft & ripened

    That should have read above, a future as bright as Bob’s and Blanche’s.
    Never want to leave out, such a wonderfully lovely lady as Blanche!
    Zsa Zsa Gabor est il possible to love you more and even more?
    ◄ Song of Solomon 8:6 ►
    Set me as a seal upon thy heart, As a seal upon thine arm: For love is strong as death; Jealousy is cruel as Sheol; The flashes thereof are flashes of fire, A very flame of Jehovah. American Standard Version

    Jealousy.–Strong passion, from a word meaning to be red with flame; not in a bad sense, as the parallelism shows:–

    “Strong as death is love,
    Inexorable as Sheol is ardent passion.”

    A most vehement flame.–Literally, a flame of Jah, the only place where a sacred name occurs in the book, and here, as in the Authorised Version, adverbially, to express something superlatively great and strong. Southey’s lines are a faint echo of this:–
    http://biblehub.com/songs/8-6.htm

    “But love is indestructible,

    Its holy flame for ever burneth,

    From heaven it came, to heaven returneth.”

  14. Country Codger

    Wow, Greg,
    You have had some killer interviews that just seem to go together like hand-in-glove. Keep it up.
    Shalom,
    CC

    • Greg Hunter

      Thank you CC!!
      Greg

      • Lynn

        I must agree. Kirby and Pento in the same week!
        Greg is coming of age.
        Thank you.

        • Greg Hunter

          Thank you Lynn!!
          Greg

  15. Wondan Valley girl

    Man Sues Air Force After Airmen Allegedly Assault Him For Invoking God During Flag Ceremony
    JOSHUA GILL Religion Reporter
    9:37 PM 04/03/2018
    VIDEO OF ASSAULT;
    http://dailycaller.com/2018/04/03/air-force-retirement-ceremony-assault/

  16. JohnF

    “What you have to understand, and these people will never understand it at the Federal Reserve”
    They just keep making excuses for these Criminals that run the FED.

    The Whole Reason The Market Started Rolling Over is Because the FED Started Dumping It’s Garbage (Sliced & Diced MBS) Back on the Markets.

    The Last Time They Tried To Sell This Garbage around 09 was 10-15 Cents on the Dollar.

    So They ‘Mark to Myth’ On Their Books At 100% and Wait a Few Years & Dump The Garbage Back On The Unsuspecting Public.

    And While All This Rolling Over Is Going On – The Gold & Silver Sites Switch Sides & Tell Everyone to Buy ‘Cryptos’ – Which Then Crashed a Few Months Later.!!!!!

  17. Russ

    G’morning Greg, thanks for having Michael Pento back for an update. Timely, the DOW started down something like 450 pts and as I type it’s down 390+/- — rollercoaster. Glad I don’t have a dog in that fight.

    There’s an article posted on ZeroHedge titled, “Peter Schiff Warns ‘Deep State’ Unafraid To Crash The Market On Trump’s Watch”
    https://www.zerohedge.com/news/2018-04-04/peter-schiff-warns-deep-state-unafraid-crash-market-trumps-watch
    The first comment below is: “LOL. Uhm, Trump’s unafraid to crash the markets on Trump’s watch as well.” The market is way overvalued at these levels and Trump knows it. When you rebuild a house with a rotten foundation you don’t start rebiulding on the second floor, you take it all the way down and start with concrete footings.

    LIBOR, there goes that acronym again. Just another reason to not be investing resources in paper assets. I have cash because it’s necessary for day-day life, but other than that, real estate and other real assets. Things I can tough, drive or provide a roof over my head. Everything is paid off including my taxes and registration fees. Good for another year. Now all I need to be concerned with is inflation in food, water, electricity… I shoulda bought a farm.

    • Russ

      Things I can TOUCH. 🙂 Credit card is paid off too.

      It would be interesting to hear how M.Pento thinks a debt jubilee would shake out. Since a large percentage of derivatives are in the debt market, how do the holders of those derivatives become whole, or are they the necessary casualty. There’s no free lunch, somebody takes it on the chin in a debt jubilee.

      Yeah, I’m still of the belief there will be a global reset of some type, it’s the only way to start an economy rebuild from the foundation.

    • Paul ...

      Speaking of “concrete footings” … Trump should build The Wall with 100 foot deep concrete footings … we don’t want the caravans “of dreamers” (who want our wealth) to be able “to dig under” The Wall … let’s take a lesson from Israel … and build “an underground wall” upon which our wall rests!!!

  18. Paul from Indiana

    Government amazes me. It is really just a proxy for us ourselves. Don’t like our situation?
    We have only ourselves to blame. The solution is simple. If we can’t afford government as Pento clearly demonstrates, CUT BACK. Have smaller government! Do less. We’ll get by. For the last 40 years, I have said that we have two choices: fix this or let it fix itself. We have chosen the path of least resistance. Now, we seem to be surprised that the choice of letting it fix itself is going to be unpleasant and out of control! Really? Best always. PM

    • allen ols

      pfi
      I see trump will call the military to the border, to stop mexicans/etc. I say catapulte them right back over the wall, keep the drugs, sell it to russian mob cheap, pay off debt.

    • Arthur Barnes

      Paul, for decades we were taught that too much debt would hurt us but not one politician did a tinkers damn to stop it or fix it, so yea, let it go, it can’t be understated that it will be unpleasant; especially for the “slacker group”, for the producers they will survive as they always due. The period of time in which you speak of may well be a time where no more Robin Hoods exist to bribe the “slackers” from burning “it” down. Stock up, get prepared, “the times they are a changing”. Country Boys Can Survive!

    • JC Davis

      PFI What do you think. Set up a new government along side the present one. The present one can not look into the new one, yet the present one must show all info to the new one.

  19. Russell Wheeler

    Intentional downturn, intentional bubble, intentional crash. Fiat currencies and unaccountable banks have always done the same things throughout history. The most shocking thing is that this is news. Since the closing of the gold window by Nixon this was inevitable. Scratch that… since the advent of the 1913 federal reserve act and theft of gold from “We the People” this was inevitable.

  20. Paul ...

    “Now is the time that tries men’s souls” … an enemy caravan is approaching our southern gate … demanding entry … so as to plunder our wealth as they dream their dreams of untold riches … but as Marcus Tullius Cicero consul to Rome (assassinated on December 7, 43 BC in Firmia , Italy at the age of 43 just like JFK) once said: “The enemy at the gate is less dangerous then the traitors within who want to destroy Rome” … today we have Demon-rat “traitors within” who want to destroy America and its Constitutional protections (using our own children against us as Hitler did) … Trump knows “we lost the trade war years ago” … we are now simply fighting “a holding action” against the Globalist dictators … Trump is now pulling our battle hardened troops out of Syria (and will likely place them at our border gates and get the Army Corp of Engineers “to build a secure wall” to keep out the caravans (of the traitorous “enemies within”) now storming the gates of our precious Nation … once we secure our borders … re-affirm our Constitutional rights … take out the neocon pedophile Satan worshiping enemies within … and rebuild the industrial capabilities that were “offshored” by these traitors … we will regain our strength (like Samson did) … and we will have the power once again … to topple the pillars of the Globalists Temple (even if it means bringing the entire Stock Market down around us)!!

    • Arthur Barnes

      Paul, we have enemies at the gate, inside the gate, on top of the gate and beyond the gate, all of those would welcome an American crash & burn. But as the old saying goes: “Watch what you wish for” cause as America goes so goes the world! Frankly, it might be just the right time in history to put things right as we can’t strive any longer the way things are.

  21. Barn Cat

    Precious metal price suppression will end either when the dollar dies or due to the petro-yuan/Shanghai Gold Exchange. I guess it’s possible that the powers that be will manipulate metal prices much higher for their own profits. I’ve read that Morgan Stanley has huge physical silver holdings. Silver comes out of the ground at a 1/10 ratio with gold. When gold hits $10,000 silver should hit $1,000. Possibly higher since silver is an industrial metal and gold isn’t. Who’s to say silver couldn’t go to $2500?

    There are already enough dollars in existence to produce hyperinflation. It’s just that the money velocity keeps dropping. That will change when more and more international trade is done outside the dollar.

    • Paul ...

      Imagine if Walter Baumgarten got his Township to buy 50,000 ounces of silver as I suggested … and it went to $2500 per ounce? … Wow! … his Township would rake in $125M dollars … they would not only pay off their entire debt … but with the money left over the Township would be able to reduce their Town Taxes to “Zero” … for the next one hundred years!!

      • Paul ...

        Why don’t the Pension Funds and Insurance Companies do the sane thing and buy some silver? … why doesn’t Trump have the Social Security Trust Fund buy some silver “to put in a lock box” to bail out all the senior citizens? … why is it “only Chase Bank” has the intelligence to load up on silver??? … they probably know they are going to be so rich they recently gave me $300 for opening a checking account with them … I took the money and bought 18 ounces of silver with it … at $2500 dollars per ounce that would give me $45,000 dollars to pay off all my charge cards (using no money of my own … just simply opening a Chase checking account) … why doesn’t Chicago and other bankrupt cities across America buy some silver (the way Chase Bank is doing) and follow the banksters lead??? … how dumbed down has all that fluoride in our drinking water made the American people??

        • Russell Wheeler

          Paul…
          Somebody has known for a while. Forbes April 17, 2011 “University of Texas Endowment Holds $1 Billion Gold, 5% Of Its Portfolio”. Google “China puts up Gold Vending Machines” and you’ll be in for another surprise. Only USA citizens haven’t been given the memo. We’re the “chattle” that secures the “Federal Reserve” dept note.

  22. coalburner

    Dear Greg
    Only one thing to say. Two great guys trying to help us all.

  23. Da Yooper

    Just when I think how can Greg top this interview
    You do . You are killing it Greg good job!
    Cant wait for Sunday.

    OBTW just my .02 ….if the fed keeps raising rates they will destroy what is left of this economy the people are tapped out. It is going to be a long hot summer in more ways than one. Time to bail out the people .

  24. Tim McGraw

    Another great interview! Unbelievable that the government is selling off the Strategic Oil Reserves. Will the Feds sell Nevada next?

    • Paul ...

      Seems “the powers that be” know they don’t need oil for energy anymore and are getting rid of the stuff … the Rockefeller’s are completely out of all their oil investments … the Saudi’s are selling off their oil stocks … this doesn’t bode well for Russia and Iran … as for selling Nevada … never … we need the Nevada desert (to set up solar power stations to generate the H2O2 gas that will power the entire Nation and replace our need for oil and natural gas … except as lubricants, fertilizer and chemicals) … the oil industry’s “chem-trail plot” to block out the Sun is not working too well … just like Al Gores “global warming plot” to tax us for “breathing out” CO2 didn’t work … however Al is probably working on a new plot … to tax us for “breathing in” Oxygen” … because O2 is needed in the atmosphere to generate Earth’s ozone shield (at least this has scientific validity)!!

  25. john duffy

    The real fake news:
    https://www.facebook.com/PaulJosephWatson/videos/2024822924211851/

  26. Billy Roberts

    Pento is a great mind with economics. Love the shorter interviews, more in these than double the time. Great American.
    So it seems were at what Chris Martenson says a predicament rather than a problem that can’t be resolved without pain.
    If Federal Government’s raise rates will will be flooded with defaults in housing and corporate debt and stocks will fall quickly.
    If rates remain low or lower – confidence and the realisation that there is no recovery will cause inflation. If they do QE4 we will get hyperinlation. The US dollar value will decrease even more.

    Pento’s comment about stock holding around 150% of stock wealth to the total GDP is plain crazy. Talk about overvaluation when it normally is 40%.

    Here in Australia rates were kept very low this week, if they raised rates one or two times there will be a flood of defaults in housing. There is no growth in wages actually folks are falling behind due to inflation. Inflation the stealth destroyer.

    Australia’s house prices are crazy expensive, the divide between rich and poor is greatly increasing. Sometimes you gotta let the crash happen. Pento says that in his book, let it fall and build again. Let natural order happen, instead of creating bubble in real estate, stocks, bonds, trade and destroying pensioners and savers.

  27. David Clumpner

    Thanks Greg,..
    Great report per usual.
    One thing tho about gold: It will go up when the manipulators/deep state allows it to go up.

    • Greg Hunter

      David,
      At some point they are going to drive gold and silver prices the other way. Hope everybody is holding some when that happens.
      Greg

      • Paul ...

        Your exactly right Greg … the banksters will load up on silver by manipulating the price down (to scare out the “weak holders” ) … and then when they have accumulated tons and tons of the stuff … manipulate silver upward (the same way Bitcoin was manipulated up from a few dollars to $20,000 dollars a coin)!!

  28. William Stanley

    Mr. Hunter: Thanks for the treat: Pento has tremendous credibility!

    • Greg Hunter

      Thank you William. I actually had a cancelation and brought him out of the bull pen. Pento pitched a no-hitter.
      Greg

  29. John

    I really like listening to Pento! Great guest.

  30. Tad

    I’m relieved the National Guard is rumored to be protecting our southern flank as early as Thursday night. These people are basically civilians, so how long Mr. Trump can utilize their skills without utilizing regularly military is anyone’s guess.

    Obviously, returning troops from Syria with terrorism experience would find a niche along the border.

    One has to wonder though, whether the administration has serious intent of building the wall. One juxtaposes this issue with Chinese hacking computers from afar, or sending their agents through US air and seaports to infiltrate our society and remove intellectual property.

    The ultimate aim of US trade policy toward China might likely ban all Chinese imports and technology with questionable provenance ( origin, being stolen technology). Not the worst problem is that the US becomes self-sufficient again with little need for imports. The Chinese purchasing large swaths of US ag ral estate present an obvious problem.

    • Arthur Barnes

      Tad, Trump wants to build the wall, the National Guard is a shot over the “illegal caucus’s” bow, love to hear them scream racism. When you here that scream and Mexico crying the sky is falling you know you are over the target. The U.S. taxpayers should not have to be Mexico’s welfare program and the third world’s toilets any longer. The National Guard has real bullets and train for such things and are part of the U.S. armed forces but are divided in each state, and, its amazing how fast a “guardsman” can speed up to about any task; just hope Trump sends enough to do the job which Congress won’t.

      • Tad

        A great deal will change between Mexico and US when our financial system fails.

    • Paul ...

      The Chinese “are not stupid” like the majority of American pension fund managers, Townships, Mayors, State Governors, etc. who won’t even consider buying gold or silver to “bail themselves” out (instead of relying on Gov bail outs and bail in’s) … but the Chinese are smart buying American farmland (to grow their own soybeans) … as they can ship their food products to China without paying a tariff on it … which makes a lot of sense … just as it makes cents for Americans to accumulate some “Treasury Issued” legal tender coin along with their gold and silver coins (but do they do it??) … are Americans afraid of being laughed at like little snowflakes? … or will they get some “balls” to throw around (like that Satanist Pope who probably drinks out of glass bottles to keep his testosterone levels up) … he had no problem telling the world “there is no Hell”!!

      • Paul ...

        The Commie Pope is out to destroy religion the same way the Commie Demon-rats are out to destroy America (a little at a time) … next year the Pope will probably tell us (that just like bad souls fade away to nothingness) good souls also fade away to nothingness … and the Commies will have then achieved their ultimate goal … A One World Religion (called Athiesm)!!

        • Paul ...

          And what will be done with all the unneeded Catholic Churches around the world? … turn them into NWO Abortion Centers (to sacrifice babies on the Alter of Satan to collect organs … instead of fiat paper)?? … or perhaps use Catholic Churches as “pedophile training centers” for Satan’s alter boys to carry the cups of blood and sacred knives needed for baby sacrifice and organ removal)???!!

  31. William Stanley

    Mr. Hunter: This may be a topic you may never want to cover with a guest: However, it’s become apparent to me that many, if not most, highly intelligent people are, essentially, totally unfamiliar with “prepping” topics and could benefit greatly from a discussion of shelter, clothes, water, food, medical supplies and, yes, firearms in a grid down, without rule of law, scenario. While these topics are widely covered on the internet, I’ve noticed that people live in separate bubbles, and many here may not be conversant with this important and related topic.

  32. Jim Umble

    Greg thanks for all the interview’s good stuff.Iwill continue to donate when I can.

    • Greg Hunter

      Much appreciated Jim, but don’t go on any guilt trip. The site is free and I appreciate you help and comments.
      Greg

  33. Tad

    http://blogs.rediff.com/mkbhadrakumar/author/bhadrakumaranrediffmailcom/

    Perhaps Mr. Trump and his Syria policy is reflected in the old adage, “Keep their friends close, and you enemies closer”

    He could have them back in less than two weeks hence, if he wanted too.

    Russia and Syria would raise no cackles over the rumored $200 million to rebuild Syria’s (or ISIS’) infrastructure.

  34. H. Craig Bradley

    NEWS YOU CAN USE

    Greg,

    Please ask Michael Pinto what he suggest investors do in-lieu of the fixed income portion of a traditional “balanced” portfolio asset allocation ( 60% Equity, 40% Bonds). Now that I fully appreciate the “pickle” we are now all in, I am increasingly asking this same question of my financial advisors, as well. I have yet to receive a coherent response from my brokers.

    My preference is to go it alone and self-manage all my assets and forego any existing account management fees. Most Traditional “Balanced” Model Portfolios are broken, as they mandate a minimum allocation to fixed income. Economist Martin A. Armstrong says that pension funds and investors will get “hosed” if they are in bonds as interest rates rise globally in future years. I agree and want to get better prepared for the coming turbulence. We still have some time before the storm. We all need to use it wisely.

    • Greg Hunter

      H,
      If you have not done so pay off your home. Forget the deductions. Those are expensive. You generally spend $1 to get 30 cents back from Uncle Sam. It’s cheaper just to pay them 30 cents. You can contact Michael at PentoPort.com. Send him an email.
      Greg

  35. Paul P

    Hi Greg, enjoy all your guests. Michael is straight shooter and smart. Debt,Debt,Debt is the problem and CB’s are backed into a corner. Trump said on Friday in essence expect markets to be a little rocky; that if we take a hit in the markets in the long run we will be better off,- in reference to trade wars. Clearly, he is not backing down. Also was wondering when you might have Jim Sinclair of JM Minset. He was a guest a couple of years ago and he claimed his contact ( deep state) indicated they ( whoever they are) were going to let Gold explode. Wondering what his views are today. Many thanks and keep up the great work.

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