Fed Panics & Starts Massive Money Printing – Michael Pento

By Greg Hunter’s USAWatchdog.com (Early Sunday Release)

Economist and money manager Michael Pento says the recent Federal Reserve about face in policy with cutting rates and new QE (money printing) means only one thing. Pento explains, “So, the Fed changed their mind, panicked, the Fed panicked. They not only stopped raising rates, they now cut rates twice, and they are going to cut rates again at the end of this month. They are also fully back in a massive QE. They have a $130 billion revolving repo facility shoving $130 billion every night, rolling it over, trying to re-liquefy the banking system and back into QE–$60 billion per month. At the peak, it was $85 billion. So, they are almost back to the peak of QE (during the Great Recession). They did not scale in, the Fed went to $60 billion right away.”

Why the sudden burst of money printing when we are being told the economy is fine? Pento says the Fed is panicking to stop a “depression.” That’s right, a depression. Pento contends, “I am on record saying given the extent of the asset bubbles that we have today . . . household debt is at a record high. Corporate debt is at a record high, up 60%. The national debt was $9 trillion prior to the Great Recession and is now $23 trillion. Total non-financial debt is now $53 trillion, and it was $33 trillion prior to the Great Recession. . . . Given all these imbalances and deformations, the Fed knows we are not going to have some mild recession. If they don’t re-liquefy the money markets, the same thing that happened back in 2008 would happen today, only the stock market was only a 100% of GDP and today it is 150% or one and a half times the economy. So, the plunge in the stock market would be huge and from a much higher level. Back in the Great Recession, unemployment claims spiked. We had millions of people laid off, and the same thing would happen today only it would be much worse.”

Pento predicts the debt bubble will implode at some point, and it will be felt everywhere on the planet. Pento says, “When this thing implodes, we are all screwed. On a global scale, we have never before created such a magnificent bubble. These central bankers are clueless, and they have proven that beyond a doubt. All they can do is to try to keep the bubble going. . . . I am going to make sure my clients are going to be protected and may have a chance to profit from this chaos because it is coming, and it is going to be brutal.”

Join Greg Hunter as he goes One-on-One with money manager and financial expert Michael Pento of Pento Portfolio Strategies.

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  1. Anthony Australia

    Superb work Greg; A Momento from Pento!

    Money printing only leads to empowerment for the 1% and massive inflation for the rest.

    Purchased a bubble tea drink in Taiwan for $2 here in Sydney CBD yesterday it was $8.
    I’m not sure about this but I feel we are getting ripped off on all levels in Australia.
    To counter this and ease the concerns of residents; The news spinning out from the Government propaganda MSM machine is that house prices are rising in Australia and that mass immigration is good for our bottom line. So the illusion is we are richer as a nation but most people can’t make ends meet, mind boggling.

    • Hockey Puck

      Hi Greg. Good interview. I basically agree with Mr. Pento’s conservative perspective, but IMHO, he makes a critical mistake: he assumes we are living in a capitalist economy.

      WRONG! One of the most brilliant insights from the guy who wrote the book on the Deep State, G. Edward Griffin, in your 2015 interview was that the final stage in the Deep State’s plan for One World Government would be a COMMAND ECONOMY!!! (Click here: https://usawatchdog.com/federal-reserve-system-a-run-away-machine-g-edward-griffin/)

      Well, welcome to 2019! That’s exactly where we are today. To think we live in a capitalist economy is to miss the whole point. We don’t. The price of gold has been controlled for years? Right? That’s been the talk for the last 5 years! Mr. Kirby a month ago, reported that horizontal drillers are producing oil at a loss? Come again? This is capitalism? Producing a commodity at a loss for 10 years? Hmmm!

      What central banks have done is engineer a kind of HYBRID ECONOMY– a fusion of the best (from their point of view) of what capitalism and totalitarianism have to offer. I’m sure in 50 years from now, an economist, looking backwards, will give this economic system a fancy name. For now let’s just call it post-capitalism… or better still… pretend-capitalism (since we all seem to be pretending at capitalism).

      Why are US equities at all time highs? Markets, obviously, are convinced that central banks will save the day by printing more money. They have been doing it since 2008. Why would they stop now?

      So I don’t buy Mr. Pento’s current prognosis. He might have been right in 2006, but that’s 14 years ago. A lot has changed since. Central banks have learned that they can keep markets propped up with monopoly money indefinitely. Who benefits? You got it. The Elite.

      The other absolutely brilliant comment from Mr. Griffin from 2015 is that the market will collapse only if it’s in the interest of the Elite for it to do so… AND FOR NO OTHER REASON. When will that be? Probably when 5G is fully operational. For then they can scare the hell out of all of us and we will gladly agree to the mark of the Beast… gladly!!! It’s a sad statement, but that’s what happens when the State gets control of education.

      So all this talk about repo markets is just nonsense. The Fed is just doing its job! Big Deal! 134 billion? Peanuts! Digital peanuts! And the Fed will continue to do its job printing ungodly amounts of money (digital peanuts) as long as the Elite says so.

      The scary thing is that the Elite are now puppets themselves. The Wizard of Oz is now the CCP. For info on this, see Steve Bannon and Kyle Bass discuss China’s Grand Strategy and how it got control of the Elite. https://www.youtube.com/watch?v=qH5QzuzD01A

      • William Stanley

        I loved your comment, especially your core point about the nature of “the system.” Still, I think that the repo “markets” are providing useful information about the current state of that system.

        • Hockey Puck

          Hi William. You’re right! It’s another symptom of how dysfunctional our present economy is.

          What disturbs me is we make too many assumptions based on a healthy capitalist model, which simply does not exist today. Near as I can tell, China has 4 times the amount of financial leverage as we do. What does that tell you? They’re still going. Also, the Soviet Union lasted 70 years with a command economy, and it seems like the boys at Fed & Co. came up with a bigger, badder mousetrap. Hmmm! And then, we’ve only been experimenting with a command/hybrid thing for 10 years (circa 2008).

          I don’t know. This money printing scheme could go on for a very long time, especially if everyone is in on the game. Gold will likely make new highs, but the system itself will remain. Don’t you think?

          • William Stanley

            RE: “but the system itself will remain”

            Actually, I think your quarrel with the common analytical assumptions, while well justified, isn’t “extreme” enough. IMO, the nature of the system is far more corrupt — and fragile — than even most of us who visit this site appreciate. While the slide into chais and totalitarianism has been gradual, it is now well advanced and its acceleration is now palpable.

            In one sense, that palpability is a good thing since many of us are waking up. However, IMO, something akin to civil war is in the air. For example, in the last several days I’ve experienced two very strange occurrences:
            (1) Several day ago, five men stood by their parked vehicles and then lined up to block a very remote dirt road as I approached in my truck. They were clearly itching for some kind of confrontation . . . which I didn’t provide (I stopped and asked if I could help them, which they declined);
            (2) Today, as I was walking along a pastoral pathway with a friend, we encountered three retired middle-class people walking a dog. We stopped and amiably discussed the beautiful day for some ten minutes. As we disengaged I joked that they shouldn’t listen to my friend and me since we would be talking politics during the continuation of our stroll. After we had gone about fifty feet away they started chanting “FT” and “F*** Trump.”

            I just don’t see how “the system” stays tacked together in anything like its present decrepit state. For a variety of reasons, I think much greater pain awaits us.

            • Hockey Puck

              Valuable insights, as always, William. Thanks again.

              In the end, I have to acknowledge the fact that I’m just a guy sitting in the bleachers watching the game from afar. It’s humbling, but it’s healthy to see your own limitations. Moreover, it’s hard to see how this will all play out… there are just so many variables.

              I do agree with you, however, that things are reaching such a feverish pitch and something is ready to pop! How and when is the big question.

              Regarding the Elite, I’m having to reconsider who the Elite actually is. Maybe this hybrid economy was all engineered by China. Who knows. And if the Chinese economy is blown to smithereens as the Soviet economy was in the Eighties (Trump’s strategy) the Tsunami that it will trigger is difficult to predict. Conversely, if the democrats win next November, I hate to even imagine the consequences.

              More questions than answers, I’m afraid.

    • Chip

      Mass immigration is only good for the immigrants. The host nation will pay dearly and that means her citizens. What value is citizenship when all you get is the shaft? Exactly what is happening in the USSA… Chip

    • K.Wayne

      Yes Pento absolutely delivered here….. and not a minute too late to say the least.
      I concur with MP on a number of his thoughts and have expressed that on numerous occasions. It is my natural inclination to believe that what the FED is doing is in FACT QE 4. There are too many unscrupulous issues associated with this I couldn’t begin to list them.

      • K.Wayne

        What was an interesting point was what Pento inadvertently said in his explanation. “We on Wall Street know what’s going on at the FED in the market”.
        As we all know the MSM promotes lies through propaganda….BUT they also LIE through OMISSION. How has that collective group taken their eye of this topic for the course of 4 weeks and counting ?
        This is Deja-vu 2006-07 …. toxic build up of impaired assets /debt….is blocking the plumbing and destroying confidence. The party must go on !!…. until someone notices…and something cracks or springs a leak. I’d suggest we are right at that point now.
        Once again it is the public at large that remain clueless….. and only through the alternative media are we to have any semblance of understanding and can take the appropriate action. Having some preparedness is better than none.

        • William Stanley

          I agree that the financial system is showing signs of extreme danger. IMO, that is partly due to geo-political forces and uncertainties, including those to which Hockey Puck has alluded. iwitness02 has also provided many links relevant to the nature of “the system” and the Ongoing Coup Attempt by the CIA and other elements of “the deep state.” The bad harvests and the threat to swine populations is also ominous. ALL of this is in play and ALL of it is extremely dangerous. As Greg says, “Get prepared and stay prepared.”

          • K. Wayne

            As we don’t really know what is behind the “PANIC” we can only surmise that every material event /issue (financial or otherwise) is playing its part.
            To a large extent although, I put forward that the repeal of the Glass-Steagall Act has made a massive contribution to the imbalances and disorder that is clearly evident and now materialising. The omnipotent FED with its lawlessness (lack of application of FASB for its very own reporting – marked to market) has and remains above the Law. The secrecy and actions are synonymous with that of a Cartel.
            The question becomes….who are they saving the system for ….and the answer for me is relatively straight forward.
            If there was any doubt about the control that the FED has over our Government then the opinion piece from ex FED President Dudley should put that to rest.
            None of the other issues you mentioned are any less important and what I have said does not imply that the focus has or should be shifted. I merely attribute cause and effect as being the rationale behind my focus. The Big Picture approach doesn’t imply I’m missing the micro elements. It is a living breathing system after all.

  2. paul ...

    Just listening to Pento and it is obvious the game is up for those who are short gold and silver … gold and silver will only rise faster as the Fed expands the monetary base … look at the US National Debt Clock (https://www.usdebtclock.org/) to see how fast gold has been rising compared to Fed paper … and the end of LIBOR with all their crooked manipulations is likely causing derivative failures … putting big stress on the REPO market … and failed banks like Deutsche Bank (who is authorized to access the federal funds market) can’t offer any of its own collateral in exchange for Fed liquidity … all they have is rehypothecated collateral (assets that have been posted as collateral by their clients and used by DB for it’s own private purposes … only the crazy Fed will lend our money to Deutsche Bank through the REPO market “without collateral” … other Euro banks are also starving for dollar funding as they are anticipating a hard Brexit (which will put both UK and German banks in big trouble) … most likely a DB fail will be too-big-for-the-Fed-to-bail without creating the crash Pento sees coming!!

    • paul ...

      This “is not” TARP 2009 … the Fed is not swapping money for worthless collateral like in 2009 … it is providing money “for nothing” to some big banks that are obviously caught in some sort of “borrow-short lend-long scheme” … who gives the Fed the power to give away “our money” for nothing??? … Trump should be demanding the Fed only accept “real collateral” in exchange for these REPO loans (rather then being forced to use the RICO laws to possibly claw back some of our money)!!

      • paul ...

        BREAKING NEWS: Trump Just Announced “Something Big Just Happened” … and will be making a major address tomorrow morning!!!! … https://www.zerohedge.com/political/something-very-big-just-happened-trump-make-major-statement-tomorrow-morning

        • paul ...

          I wonder if James Clapper “just turned” and is providing all the evidence needed to convict Obama?? … Clapper has already stated: “It’s frankly disconcerting to be investigated for having done … what we were told to do … by the President of the United States”!!

          • paul ...

            So this is the “Big News”??? …
            You know … the American people are “not idiotic sadistic evil murderers like Hillary and Obama” … who “get off” on killing people … it is just one more evil terrorist killed … Obama “got off” with killing Bin Laden and Hillary “got off” with killing Gaddafi!! … is this Trump’s hee hee moment??? … we can do without “a killing” being made into a big deal … this required a major public announcement by the President of the United States?? … the “death announcement” should have been made by some “lower ranking” Military Officer !!

        • Mike R

          ISIS dealer dead. (again)

        • Chip

          The leader of ISIS was killed. BIG WHOOP! I’m more afraid of a Communist Democrat being elected POTUS than I am of any sand creature in the Middle East… Chip

          • Chip

            BTW Greg EXCELLENT interview with Pento. Bought ten ounces of gold before the rise when it was $1284/oz to add to my stash. More junk silver quarters and dimes (five rolls each). Prepare folks. S is about to HTF… Chip

    • uncommon sense

      Article on silver for your perusal Paul.

      • paul ...

        US … For all the reasons outlined in the Money Week article silver must be destroyed (the same way Tulsi has to be destroyed by Hillary) because it is just to good to be allowed to become “a threat to the powers that be” who control the money system!!

    • Stan

      Paul: I shorted more Gold this morning. Remember, QE is negative for Gold. Gold crashed during QE3.

  3. William Stanley

    Mr. Hunter,
    Thanks for again bringing us Mr. Pento.
    His explanation of the situation in the Repo market is much appreciated.

  4. JC

    Good stuff. Thanks. Is anybody on Watchdog a client of Mr. Pento? If so, can you give some feedback?

    • Beverly

      I’m no client, but it sounds to me like he REALLY knows his stuff. But, in the end, what will you do with any money? You will go out and buy as many necessities as you can get your hands on because money will become worthless. So, my advice is, buy supplies RIGHT NOW. Buy flour, buy wheat and a grinder, buy canned goods, buy soaps, medicines and as many things as you can possibly buy that you know you will need in the future. Just everyday stuff is what we are going to need and it will need to be replenished. Our capability to do that is going to be blown away, so we have to learn how to make things ourselves. Becoming knowledgeable about how to be our own store. The pioneers made their own soap out of saved bacon grease and lye. They made rag rugs. Planted trees, grew gardens, dug ditches. We have got to see life differently—totally.

  5. Rodster

    Gerald Celente says the Greatest Depression is coming in 2021.

    We have been told that what happened back in 2008-09 was the Great Recession. In reality it was a Depression because if it were not for the Federal Reserve along with other Central Banks printing trillions upon trillions of dollars and the US Gov’t implementing it’s “soup line” programs, we would have seen the same chaos, as we did back in 1929.

    The whole thing was a lie to keep the entire Ponzi Scheme from imploding. Since 2008-09, it has never been a normal eCONomy, not when you have a third of your workforce out of work looking for work. The inflation numbers have also been another giant lie as well. I tend to agree with John Williams who says, our real unemployment rate is around 24-26% and our real inflation rate is around 11-14% yearly.

    Two problems, the good high paying jobs people need don’t exist to enable and maintain growth and the problems created in 2008-09 are now 10x worse.

    • paul jr.

      Actually John Williams currently says that his estimate of the U.S. unemployment rate is a little less than 21%, which according to him may be a little higher than what it really is, and that the inflation rate is a little less than 10%.

    • Freebrezer

      R – If Pento was one and 1/2 yrs early on his last call for the last collapse and square that with Celente in 2021- it adds up to late next year or shortly after the next election … scary stuff!

    • K.Wayne


    • KK Monteiro

      500x worse

    • Beverly

      I believe it will happen sooner than that. With the crop failures happening in the mid-west, and everything going on in D.C., I think it has to come to a head sooner. The banksters are at risk for being captured now and it will fall apart faster as they get closer and closer to being exposed. But, with what is being done to this earth, with all the spraying in the skies, it might be best to get this over with. They are ruining the earth with all the chemtrails and these fires all over the globe. The longer the evil can do their harm, the more desperate and weak the people will get. So, in order to have a chance at fighting these people, it would actually be better if this happens sooner rather than later, I think. They are destroying the food supply on the earth and our capability to grow food.

  6. paul ...

    Someone (or perhaps Pento himself) has taken a huge call position in the VIX in anticipation of a market crash by April 2020 … this is bad news for Trump as Presidents seeking a second term usually lose the election if the economy tanks!! … https://www.zerohedge.com/markets/someone-just-made-huge-bet-market-crashes-april

    • JC

      paul… maybe in April 2020?

      Nostradamus Quatrain III-5
      Pres, loing defaut de deux grands luminaires
      Qui suruiendra entre l’Auril & Mars.
      O quel cherté! mais deux grands debonaires
      Par terre & mer secourront toutes pars.

      Nostradamus Quatrain III-5
      Shortly after the default of the great luminaries [gold and silver]
      Which will occur between April and March.
      What loss! But two great debonair ones
      By land and sea bring relief [to] all parts.

      “I suspect that the “deux grands debonaires”, “two great debonair ones” are Russia and China, who have been stockpiling gold for nearly two decades.”


    • Freebrezer

      Paul – this is not bad news for Trump, it will be BAD NEWS for the world and the middle class of America!

      • Freebrezer

        Plus, I can’t imagine someone who looks like and acts like my 4th grade elementary teacher, who lied about being a native American this to scam Harvard law school for a professor ship, and a devout socialist becoming our next President!

    • K.Wayne

      Like in the years preceding 2008….someone saw an opportunity in the market and created Credit Default Swaps with the BIG Banks…..effectively insurance policies against the Mortgage Backed Securities. It made them an absolute Fortune. This time around ( as Pento alluded) its the Corporate Sub prime Bonds – Junk Bonds level, that are looking to be the catalyst. THE BIG SHORT II … IS IN.

      • K.Wayne

        In 2004-2008 it was the BIG American Banks packaging up the sub-prime mortgage securities…then on-selling as AAA rated CDO’s.
        Absolute pure theft. It was a fabrication …nothing but JUNK.

        This time around the BIG American Banks have been packaging up the sub-prime Corporate / Household Debt then on selling as AAA rated CLO’s (Collateralised Loan Obligations). Absolute JUNK.
        How many Pension/Hedge Funds and other SIFI’s have participated in this scheme? Not just in America either…this is AGAIN a Global issue.

        When Pento says it could happen very fast (CRASH)…he’s 100% correct.
        Greg, you are obviously shocked by this admission. It needed to be said….and MP was the perfect person to deliver… for your viewers.

  7. paul ...

    We can count Biden out (his own backers are fleeing)!! … https://www.zerohedge.com/political/biden-donors-furious-over-very-alarming-money-situation-most-obama-bundlers-flee

  8. paul ...

    It’s good to know Soros is admiting he has enemies … and effectively states: “Trump is still doing a tremendous amount of damage … what Trump has done in the Middle East for instance has been devastating for America’s influence in the world (referring to the peaceful withdrawal of American troops from Syria and ending that evil continual war)” … Soros is probably counting on a massive recession hitting before the 2020 election (throwing thousands of people out of work)!! … https://www.zerohedge.com/geopolitical/soros-predicts-globalist-victory-2020

  9. paul ...

    When inflation really kicks in as Pento warns (do to the Fed’s massive money printing) the American people will squarely be “behind the 8 ball” (unless Trump acts fast and removes the chains from the CPI) … according to the Chapwood Index (http://www.chapwoodindex.com/) real-world inflation in urban America is right now running at 9% to 13% annually!!! … so that 1.6 % COLA we are getting in Jan 2020 is really as high as a negative -11.4% (just what the Demon-rats want to help them win in 2020)!! … https://www.oftwominds.com/blogoct19/unraveling-quickens10-19.html

    • paul ...

      Will rising meat prices make US politicians break the chains on the CPI?? … likely not … the elite never broke the chains “for the ordinary people” below deck on the Titanic when it was going down!! … https://www.zerohedge.com/health/global-authorities-brace-worldwide-protein-shortage-after-quarter-earths-pigs-wiped-out

    • JohnF

      “When inflation really kicks in as Pento warns”

      I get tired of people saying when Inflation Kicks in – Do you not realize that almost everything in this country has already doubled & tripled since 911 & the collapse of our economy. Groceries for instance, utilities, gasoline, housing, autos, etc, etc.

      Americans are Products of the Dumbed Down Educational System & the Boob Tube TV Programing.

    • paul jr.

      Well actually according to the Chapwood Index it shows inflation ranging between 5.5 to 12.6 percent in the 50 largest cities for the first half of 2019. The average comes to 9.6 percent which is what John Williams currently states. And in most of those cities the inflation rate is actually less than it was last year.

  10. Revd Andrew de Berry

    Thank you warmly to both of you. QE has gone on for so long we are all in danger of supposing nothing will change in our lifestyles. Well everything will change, and even if we’re treated like fools by those who choose not to see what’s unfolding we must do what we can for our nearest and dearest when the economic apocalypse arrives.

  11. Fredrick (Rick) Getzschman

    Great report.

  12. Anthony Australia

    People smugglers and Human traffickers are lowlifes.
    Sympathy for the people who died in the Essex truck.
    What a disgraceful world we live in. 99% fighting over 1% of the worlds wealth. Look what it does to people.

  13. andyb

    Greg: a great presentation by Michael. Regardless of the direction the wind is blowing, it appears that we are heading for an unmitigated disaster. Michael intimates that the eventual last straw will be the collapse of the corporate junk bond market, leading to hyperinflation. There are, however, other possibilities. I have my eye on pension funds; too many of which are technically bankrupt. When the first major municipal or state pension fund collapses (most likely Chicago), there will be a huge domino effect. Millions will lose income and the means to survive.
    What then? Martial Law. Riots. Roving bands of marauders. Implementation of a real life Purge? Scary future we have.

    • Freebrezer

      A – add in the big drop in crop production here in the USA (the bread basket of the world) which equals much higher food prices for the world… it is the old adage “There are only nine meals between mankind and anarchy”. the future could become real scary real quick!

    • Chip

      Most of those affected by pension fund defaults are going to be over 50 years old. They will NOT riot IMO. They will be shoved aside and the younger generations will cheer it on as they blame the boomers for their “predicament” anyway. Chip

  14. markp

    Greg, thanks for having Michael Pento on again. What a great interview, with invaluable insights. What an erudite and engrossing financial analyst. I can’t get enough of this guy. Markp.

    • Scott

      + 2

  15. Cheri Rodriguez

    Is 10,000+ ounces of Silver enough protection? Started buying in 2005 at $7 an ounce and never stopped.

    • paul ...

      Well Cheri … that 10,000 ounces of silver you own is now worth $180,000 dollars … say silver goes to $1500 dollars per ounce … you will have $15 Million Dollars … but if it costs “a million dollars per year” to survive in a hyper-inflation … then your 10,000 ounces of silver gives you only 15 years protection … now if you are planning to live to just 100 years old “you can stop buying silver now” (if you are 85 years old) … otherwise keep stacking!!! … you know … perhaps the poor millennials working for minimum wage, living in their Mother’s basement and given a negative (-11.4% Cost of Living Allowance) have already figured out “they are doomed” … and would rather “eat and enjoy a chocolate bar” then save one ounce of silver that won’t be enough to save them!! …

      • Paul in OZ

        It may cost a million dollars a year of paper money, but you ‘ll buy more for less silver because silver is real money and paper always returns to intrinsic value.

    • DanT

      Cheri, that depends on your net worth minus the silver.

    • Chip

      Smart girl… Chip (I apologize in advance if my assumpti0n of gender was incorrect)

    • Scott

      10K oz Ag is good, but it does nothing for you if you don’t know the Lord.

      Every soul on Earth needs urgently to get their spiritual house in order if they’ve not already done so, and be reconciled to God.

      Behold: https://www.chick.com/products/tract?stk=293&ue=d

    • Paul in oz

      given silver is going to $100 + if you have no debt, you will have in excess of 1 million … that should do …keep it safe.

    • SilverHawk

      You are now a private bank. You can now use your silver to get a collateral loan. Use other people’s money like Robert Kiosaki does. Just not right now as everything is overvalued. Wait for the collapse when everything is cheap.

  16. Bill the Cat Guy

    The Fed is buying all the treasuries that foreign countries are dumping. They’re also creating money out of thin air to fund the deficit. I suspect that they’re ramping up QE because a major bank is in trouble.

  17. al

    M. Pento needs to simplify and shorten his answers. Too technical. He also jumps around. I don’t think he answered your questions Greg. You kept asking the same question in different ways.
    Bottom line… we’re in trouble. I get it.
    UBI, cash elimination, helicopter money. I get it, but when? He makes it seem like it can go on for a long time but then backs off with technical issues.
    I don’t expect him to know exactly when it happens, but give us a clue. Looking at the junk bonds is the only solid clue he basically gave.

    On the bright side, Pento has an economic microscope and is watching it constantly. I want my money on his side when the sh–t hits the fan.

    • Chip

      Pento did great. Not everyone is cut out to be a financial wizard. Sometimes you have to go research some of the terms and do a bit of study to catch up. No offense meant. All the best to you and all watch doggers… Chip

    • Mark Benassi

      You make a very good point, something that I have noticed with other money managers/traders, that you cannot expect a clear answer on how to reconcile short term trading and long term trends. You can be 100% correct on a long term trend and get wiped out on a bad short term trade but, as Keynes said, in the long run, we are all dead. I find value in listening to these interviews but ultimately, we all have to make those calls ourselves.

  18. Energy

    113 2919 Seattle false flag attack .

  19. Uncommon sense

    Great interview and great guest, thanks Greg. The seizing up of the credit markets is an ominous warning indeed.

  20. rey

    Pento; you’re scaring Gregg.

    • Chip

      LMAO! I shared this with my wife and she also LOL! Funny comment… Chip

  21. Jerry

    There’s no way to sugar coat it. Without the Fed repos money velocity would be tanking right now.

    I’m still waiting for the feds third quarter money velocity report. But why? The numbers are fake anyway. Without the Fed pumping money back into the system it would seize up. We are for all intents and purposes on financial life support indefinitely until someone pulls the plug. Who might that be? President Trump has already given us a clue. How many times has he blamed the Fed for hampering the recovery of the economy? How many times has he said if he was impeached, the stock market would collapse?

    The trap is set and the deep state and the Democrats are walking right in it.
    Are they really that stupid? Ah…..yes. Look at the stupid things Nancy Pelosi says. She’s a deep state poster child.

    • eddiemd

      Pelosi has been exhibiting signs of dementia for months. Along with Biden and HRC. They are under delusions and demonic control.

      The coming persecution of Christians in the USA is underway. The churches here is the USA are state controlled. Almost all of them are tax exempt scams. Government sanctioned churches. This is the same as the churches in the Soviet and Warsaw Pact and any other communist/socialist state. They know who to come for when the time comes.

      Be like Stephen. Full of faith and the Holy Spirit. Your life will be required.

      • Jerry

        Pelosi is nothing but a brain dead deep state shill. She’s deep in global theft, in Ukraine, and drug trsffuvung from Mexico.

        • paul ...

          You know … in a world that derives its sustenance on the dead corpses of other beings … how can anyone claim to be righteous says the Deep State? … our answer is “in the degree” we as humans do things … there is a difference between killing to survive (like when an intruder enters our home and threatens our family) … and random killing for money and pleasure (like starting continuous non-stop wars) … we should try to be human beings “not devils” … the Father can forgive us of our sins “as predator specie” if we abide by some moral bounds (like the 10 Commandments) … years ago the Deep State Mafia had some ground rules (like saying No Women – No Children) … today the Deep State puts absolutely no controls on their actions … pedophiles rape and kill children for pleasure … drug dealers destroy the minds of our youth … the MIC creates endless wars that kill millions … we live in a society “built upon murder of the innocent” for unlimited greed and pleasure (no longer simply for survival) … it is time we “as humans” do more then just say we prefer peace … we must “stop being animals” that unnecessary murder innocents by the millions for worth-less fiat paper IOU’s created out of thin air by evil crooks!! … https://caitlinjohnstone.com/2019/10/27/in-a-society-built-on-war-we-must-do-more-than-just-prefer-peace/

    • Jerry

      With this latest move, its becoming harder for me not to believe that something is majorly wrong in the banking system. Didn’t the Fed just inject 120 billion last Thursday? It’s Monday and the Fed is at it again. https://www.wsj.com/articles/fed-adds-76-6-billion-in-overnight-liquidity-11572270912

      Do you mean to tell me that our banking system can’t go four days without a liquidity injection from the Fed? Folks this is scary stuff.
      I can’t remember in my lifetime ever seeing a bank buying debt like this. If you were a corporation, how would justify it to your stock holders? This is what I call being in so deep, you can’t see any other option than to go in deeper. Scary stuff before Halloween.

      • paul jr.


        The answer to your question is, no, the Fed didn’t inject $120 billion last Thursday. What the Fed did was just to increase the level of their overnight repo operations to $120 billion a day from $75 billion. That is not what was injected. According to that WSJ article only $76.6 billion was injected by way of overnight repos on Monday which means it was undersubscribed (meaning banks placed fewer bids for repos than the Fed offered).

        Here is how much the total was for the overnight repo agreements for each day.

        Also this is really nothing new. That is how it was done prior to 2009.


        Once QE started in 2009 the Fed’s repo operation stopped. Now they started it back up. The current Fed repo operation is not quite the same as what QE1, QE2 and QE3 were.

  22. Uncommon sense

    By the way Greg, as William correctly pointed out, I was correct about John Bolton.
    So I can’t be that stupid!

    • Greg Hunter

      Nobody thinks you are stupid just Godless and that can make you appear stupid.

  23. Baja

    Now that was a heck of an interview, GR8 Job Greg.
    Thank you, Sir

  24. Da yooper

    Great interview Greg ……..time for trickle down economics for the corrupt banks because bailing them out time after time after time does not work..

    Dont bail out the corrupt banks.

    Bail out the people – TAXPAYERS………. & they will spend it & let the money trickle down to the corrupt banks. The economy will improve & the corrupt banks will benefit. The corrupt banks caused this. Time for them to get a reality check. Bail out the TAXPAYERS

    • iwitness02

      I second the motion.
      Bail out the Taxpayers!
      Funny how it never works out that way.
      You would almost think its rigged.

      • Da yooper

        It IS ……depending on what slick willie clinton thinks the definition of IS – IS at the time

        Hey 02 a question ?

        Cui bono?

        IF we do as pento says “to whom is it a benefit?”
        Which party benefits may not be obvious ( but I think many of us have a good idea based on past banking history ), and there may be a scapegoat……..the US TAXPAYER

        So IF we do as pento wants who benefits?

        ………wall street & it’s corrupt bankers & those who invest in bonds & government securities like hedge funds ……. the GDP ( generally DUMB public ) is on the hook for their losses thanks to banking deregulation by slick willie …….IOW’s the taxpayer get’s hosed …………….AGAIN

        there ought to be a law ……oh wait….. there was …….IS it rigged ?

        you betcha

  25. Rob

    Michael Pento is mentally seeing what David Wilkerson saw spiritually between the first and second economic crisis that Mr. Pento referred to:


    This next crisis will be a very sudden and destructive crisis but restoration will come quickly as the “bankruptcy in chief” along with the BIS and IMF through their central banks begin the process of phasing out fiat and phasing in an electronic currency over a 1260 day period as the biometric “mark of the beast” also begins to be phased in to all areas of life:


    The tribulation will run concurrently with the next decade:


    • eddiemd

      The state controlled churches in the USA will go along with the economic mark of the beast. “Tax Exempt” status means more than allegiance to the Gospel. People give for a tax rebate.

      Churches need to break free of the IRS and government. It is already too late. The central bank Fed and their collection agency the IRS already have all the information of the churches. They will be the first ones rounded up in the purge. Their heads will be required.

  26. Ismar Didic

    I think bond market will collapse very soon first then every thing will collapse.

  27. Robert

    Greg, since you like to interject religion so much into the conversation, can you tell me who Adam and Eve’s children had carnal knowledge with to create the human race as we know it… If the Adam and Eve story is true, that is. Just curious. Thx in advance.

    • Greg Hunter

      You tell me Robert. Why don’t you read the Bible.

      • Robert

        Greg, doesn’t it strike you as odd that one of the foundations of Christianity, the story of Adam and Eve, is based on the human race origins founded in incest? Their children married each other. Doesn’t that make you feel just a liitle bit odd?

        PS- I was raised Catholic. I don’t hate my upbringing, because I think it helped shape me in a good way, but I recognize myths and fables when I see it.

        • Greg Hunter

          Where in the Bible does it say “the human race origins founded in incest”?

        • Jerry

          According to my knowledge, Moses wrote Genesis .

          There are many parts of the records he kept that were either lost or stolen over the centuries by evil men, so there is much we don’t know. In addition, the Old Testament is simply the record kept by the tribe of Judah, that was compiled into the Bible ( translated to mean the books) by king James.

        • Greg Hunter

          You don’t believe in God and I don’t need a homework assignment from a troll.

    • JC

      Robert, think about this….

      “One of the reasons I pay attention to The Nag Hammadi texts is that the Vatican has not had a chance to corrupt them. They were discovered in 1945, and as far as I am concerned, they follow The Book of Enoch and some of The Dead Sea Scrolls.
      The Vatican has been hunting and trying to wipe out Gnostic Christians since Christianity grew as a seedling out of the ashes of the Roman Empire.
      The Big Secret is that humanity is an ET lab experiment given artificial intelligence, but the magic is that the spirit of God automatically finds its way into The Archon AI software of each person.”


  28. paul ...

    The Military Industrial Complex (MIC) is taking it on the chin with all their continuous war and regime change antics … and shooting themselves in the foot with billions of dollars lost (blocked) weapon sales of advanced planes and missiles to Turkey … the MIC is lucky they have the paranoid Saudi’s buying every wapon they can get their hands on (even though they are broke … because Iran is selling their oil cheap in revenge for the sanctions the MIC has placed on them)!! … https://www.zerohedge.com/geopolitical/turkey-close-purchasing-russian-su-35-jets-after-lockheed-deal-blocked

  29. Country Codger

    Excellent, excellent, excellent Michael and Greg. That is a terrible position to be in going into a super cycle in November.
    Lo Iyrah!

  30. William Rubenstein


    Can you ask pento why he assumes the collateral in the repo market is junk bonds and clo/cdo’s. The 10 year and 30 year us treasury rates have moved up significantly on a percentage basis over the last 6+ weeks and that is the collateral held by primary dealers. Also primary dealers buy US Treasuries with leverage, thus they are most likely way under water on all Treasuries purchases since the beginning of September. Thus they are out of money and can’t fund the repo market anymore, hence Fed steps up to effectively buy new issuances of Treasuries. Love to hear pento’s thoughts. Thanks again.

  31. Justn Observer

    Greg, ‘Awe’some interview…Michael Pento never disappoints with his raw unadulterated presentation of reality! A Sunday for reflection…..indeed!
    It can only get more dire from here out? ( we can ‘thank’ Gina’s friends and Al Gore and Obama) for lying about ‘global warming’ and wasting 2 decades when it has been global cooling and regional weather shifting of polar vortex all along ! And Yes, ‘the powers that be knew it all along) =
    California Burning: From PG&E’s Ashes Arise “Smart” MicroGrids (& Coming To You)
    *People already on tight budgets further stressed by higher heating and food costs will result in not buying or paying for what other bill? Like PM, at what point will QE or helicopter money do when ‘availablity’ IS the primary problem?
    Time is here to add the eight P, to the 7 P =
    P RAYER + P roper P rior P lanning P revents P iss P oor P erformance

  32. iwitness02

    Sounds like we could be heading to “every man for himself!”
    In an orderly fashion of course. (sarcasm)
    “How far off, I sat an wondered.”
    Bob Seger

  33. Sally A.

    Great get Greg.
    Love that Pento doesn’t mince words; the guy rocks.

  34. arthur barnes

    Trump got the press today with killing the ISIS leader, most Sundays on the political talk show circuits they mention impeachment every other word. Hey Pelosi, can you top that today? Trump!

  35. leo

    The saying that when people lose everything; they lose it, may be a reality soon. Many forecasters believe we may last until 2030 before a violent war envelopes the entire world. I hope we have that much time but I seriously doubt it. When people get violent it is usually because it is the last and only option left. The banking system world wide by itself could lead to war. People are fusing at ground level not realizing what the issue is. It is not political chaos between 2 parties as that is only a symptom of a much deeper problem and that is the very criminal central banking system. Greed on a massive scale in the last 2 centuries by the cabal money changers ; the Rothchilds. Starting with the bank of England and the that model was reproduced world wide. If you want more info go on line and watch the 3 hour video on the evils of the federal reserve. Global warming is another complete fraud that dummies who have no intellect swallow without any investigation of scientific fact. Read the book Upheaval by John L Casey and you can see for your selves that the narrative is a fraud . There is a coming ice age just around the corner that will limit crops and cause wide spread problems of survival. The real issues are how to survive the coming chaos if you want to survive in such an environment. Most people could care less and will not educate themselves and march right off the cliff of death as dumb as they came into the world. It would be a wise idea to prepare at least for short term survival unless you live at ground zero and a nuke comes right down your chimney. Start today when you go to the store pick up extra cans of food. Look on line what others are doing and don’t get caught in lines at stores when disaster strikes. Don’t be dumb get a plan. There is a saying that I’d rather have a gun than not need it than need it and not have it. A good example are these nature numbskulls who go hiking in the wild without packing protection, gee whiz what a shock when the cougar attacks. The root of all life is chaos. If you have 2 IQs above a goose you will prepare if not you will live by some normalcy bias like those on the train to Auswitch all the time thinking everything will be fine. News Flash; that evil spirit is still on the earth looking for the next opportunity to kill steal and destroy. Lets change the subject……Spiriual survival. Jesus Christ was the true survivalist . I have never heard of anyone else that has done that. Someone asked hall of famer NFL running back Walter Payton if he was afraid to die. His answer: “Yes, I’ve never died before.” What is life. The Bible says it is even a vapor that appears for a little while then vanishes. I have relatives that died at 34 and 43.. 55.. 68. on and on my best friend died in front of my very eyes at 18. The Bible also states it is given a man 70 years ..80 if in good health. Most people never get there. One of my favorite scriptures in the Bible is psalm 32. ” How happy is the one whose transgression is forgiven, whose sin is covered ! How happy is the man the Lord does not charge with sin. i acknowledged my sin to you and did not conceal my iniquity I said I will confess my transgressions to the Lord and you took away the guilt of my sin.” You who live by the 11 commandment “Thou shalt not be found out.” You think God doesn’t know your condition. Don’t be stupid and die show him your sore today. Vs 8-9 of Psalm 32 ” I will instruct you and show you the way to go; with My eye on you, I will give counsel. Do not be like a mule without understanding that must be controlled with a bit or else it will not come near you.”
    Do you really want to survive? Give you heart and will to Jesus today while you still are in your body and before it enters the cold dark grave. Death is an arrow already in flight and your life last only until the arrow arrives. Pray daily and read the Word of God. He loves to answer prayer.
    This is a good reality prayer.
    Oh merciful God convert me I cannot do it. Help me to struggle and to realize God or sin must die in my life. Give me the promise that you promised in your Holy Word…The Holy Spirit. Teach me what I should do, that I might be converted. Turn my will into you that from on i might depart from sin and never return. Awake in me a repentance for past sins and keep me from Satan that he may not seek me anymore in my fallen nature and remove that which always turns away from you and into the house of death.

    Do this and you will survive

  36. Kev in Louisville

    The interview is a big, big, big lie!!

    This interview serves to undermine the greatest President we’ve ever had.

    A day doesn’t go by when POTUS points out the great truth of his inspired leadership through the guidance of the Holy Spirit:

    “This is the best economy we’ve ever had, in the history of our country.”

    Please interview experts who speak the Real Truth and not people with darkness in their hearts.

    • Greg Hunter

      What lie did the interview tell? You will be unable to define a single lie here!!! We are discussing the REPO market and this is pure math. Best thing we can do for the President (Which I voted for and support) is tell him the truth. I don’t appreciate you coming on and saying this is a lie with zero prof of that Kev. You should read the Bible about bearing false witness against people. Let me make it easy for you: https://www.openbible.info/topics/bearing_false_witness

      • JungianINTP

        No lies are found in there, Kevin. But Pento’s opinion: “These central bankers are clueless . . .” (( in his last paragraph )), is incorrect–as the Big Bankers are fully aware, and have made provisions to survive the bad outcomes of their sinister, decades-long, work-behind-the-scenes purpose: to eventuate enslavement of humanity to Universal Communism (China’s ongoing “Long-March” goal), by pulling down the global financial system and installing what this scribbler has termed: Global Economic Socialism; and, then, to effect Leftism’s impossible “fairness” and “justice” and “equality” outcomes through applied Communism. Trump knows. Pray for his protection and success.

  37. DanT

    Pento s saying I am looking to get out before the window closes. Greg is saying what if the opportunity for that is not there? That is what I am hearing.

  38. H. Craig Bradley


    Right now, everything is hunky-dory and the general population is complacent about market risks and attending to their personal lives and pursuits. However, any breakdown in the functioning of our financial system would potentially cause panics somewhere.

    The next financial crisis probably is not going to affect all people the same way, at least initially. Banks, stock brokerages, and investors would all have potentially different experiences at any given moment. What affects investors might not even touch average consumers for awhile anyway.

    For example, If the stock market circuit breakers went off one day and halted trading for a few hours, then the Headline News would be active talking about what happened. Most people would not pay much attention, as they do not own stocks directly anyway. If the “gates” went up on money market accounts, then investor’s cash might become illiquid until the dust settles. However, bank customers could still get cash from their ATM’s as always.

    Another case would be S.N.A.P. or Food Stamp (EBT) consumers if their EBT cards became temporarily inoperable due to a system or computer network failure. ( This has happened in the Northeast on one occasion). There was some civil unrest when EBT consumers could not buy food. Presumably, incidences of shoplifting or vandalism spiked during these EBT outages. Each group of people may be similarly affected or remain unaffected at the same time. Getting good information in such a chaotic environment might be near impossible. How people respond would be equally unpredictable. No monolithic financial crisis. Life goes on at least for some.

    However, if banks were ever closed for a time or ATM’s went out-of-service or capital controls instituted limiting the amount of money you can withdraw per day, then this would soon have impacts on everyday consumers. Any financial system failure that impacts the supply chain or everyday consumers would soon affect the overall economy.

    Even if some of these bad things happened, gold bullion and precious metals dealers might still be open for business. Gold could be turned into cash or vice versa during a spot financial crisis. For most of us, there is no bullion dealer in the area, only pawn shops. So, gold might not do you much good by itself. Pretty hard to cash-out a 1 ounce coin of .9999 percent gold on short notice. You might have to discount it quite a bit. Most people have little no spare cash anyway.

    • paul jr.

      Well unfortunately many gold bullion and precious metals dealers do not have a lot of cash on hand, at least all the ones I deal with. They issue a check if you sell to them unless the amount is small (less than $1000) and of course you have to hope that no one else came in before you to sell and they paid them in cash. Not sure how much cash pawn shops have on hand.

  39. Dave

    Does anyone here have assets with Pento Portfolio Strategies? If so, what has been your experience?

  40. DanT

    Very good interview. Along with Pento’s economic/financial train wreck and Greg’s political mess I would add the building social problems worldwide and natures Solar Minimum and the social and economic problems it adds as Martin Armstrong points out.

  41. Justn Observer

    Greg, on the ‘impeachment’ and ‘whistleblower/informer’ front…new metadata on Bill Taylor = oconus spygirl lures /$1Trillion + nuclear energy sales/ IMF $$$ diversions

  42. David


  43. Jeffrey Kerner

    Just read the Fruits of Graft by Wayne Jett. I now have a better understanding of the mercantilist game. Those with the money and power think of themselves as being a separate and higher life form. Their desire and goal is to crush freedom. liberty and the ability to rise above the level of serfdom. When mr. Pento’s superd presentation is viewed through the lense of mercantilism (globalism) it is truly an incisive and terrifying picture of what will probably be. Thank you Mr. Hunter for having Mr. Pento on your program.

  44. paul ...

    You know … whether the truth comes from the left or the right … the important thing is … we need more and more people with the moral integrity to stand up and tell the unvarnished truth … our lying fake News Media should learn this important lesson from Tulsi and not be trying to stop and silence her!! … https://www.zerohedge.com/political/tulsi-gabbard-needs-be-stopped-shes-telling-people-truth-about-us-wars

    • paul ...

      Henry Kissinger says: “It’s not a matter of what is true that counts but a matter of what is perceived to be true.” … wrong Henry … it does matter what is true … evil lies don’t count unless you are part of the immoral Deep State!!

  45. paul ...

    Perhaps one day the American people (who are similarly trotted on economically by Deep State globalist “commies”) will eventually rise up like the people of Chile … against the Deep State globalist puppet ruining their country!! … https://www.zerohedge.com/geopolitical/over-1-million-people-take-chilean-streets-protest-billionaire-president

  46. Scott

    Been waiting – very eagerly – to hear from Mr. Pento. He never disappoints.

    A million thanks for this interview, Greg – your tireless work is very gratefully appreciated.

    All the best,


  47. Ronnie

    Pento punching on like a champion. Brutal.

  48. eddiemd

    Admiral McRaven ex-commander of Navy SEAT Team 6 mission to kill the fictitious OBL in 2014 gave the order to destroy all photos and evidence of the “burial at sea”. It never happened. SEAL Team members on the mission were subsequently put aboard an ill-fated CH-47 in Afghanistan. Fifteen operators from SEAL Team 6 killed along with 6 other Navy Special Warfare members and 37 total counting crew and indig commandos.

    McRaven wrote an editorial last week advocating for a coup by the military against the President. He has something to hide. Another deep state swamp creature. He should be brought out of retirement and tried for treason under UCMJ.

  49. A. E Jones. JR

    I keep hearing people say: “If the economy tanks Trump will lose in 2020.” Would someone please explain to me under those circumstances who a rational person would vote for instead of Trump? Socialism is a shadow ideology, meaning its existence is dependent on a capitalist system. No capitalist system- no motivation for a Socialists system to spread the wealth because there is no wealth to spread. Socialism does not grow from a seed, it grows from inequality. When your ideology consists of destroying a system, what happens to the ideological movement when the system under attack (Capitalism) is destroyed. Cancer always wins in the end but what happens to the cancer?
    What I see after the crash is a new order of small local governments. Once the Federal Government can’t sent out the checks and pay the medical bills and pensions it will become irrelevant over night. The riots will last about a week until the food runs out. A hundred people could bring this country to its knees. All power ultimately comes from the barrel of a gun. He who has the guns has the power.

  50. Stan

    I had a small get together today with a few friends who work at the Fed. We were discussing some derivative strategies over a bottle of Domaine Leroy Richebourg Grand Cru (1949). Then an idea popped into my head. I decided to play this Pento video for my friends. I never saw these guys chuckle and laugh so hard. My friends refuted everything Pento said and went further to say the bond markets and equity markets are as stable as they ever have been.

    • K. Wayne

      According to Preuschoft, …. laughter is used to admit fear and communicates a desire to avoid conflict. Another camp believes that fearful laughter actually represents a denial of fear. We’re scared, but we’re trying to convince ourselves and the people around us that we’re not—that everything is okay.

      Keep drinking Stan…. you will lead the Blind into the Abyss.

    • Ray

      I’ll make a small but worthwhile recommendation for your Fed Friends Stan……..next time they come over to your place for a drink, ask them to leave their Bong at home.
      There’s a good lad.
      Ray, Canberra, Pop Gun Nation

    • paul ...

      So Stan … your Fed friends laughed and chuckled at what Pento said?? … how many $6,000 dollar bottles of Domaine Leroy Richebourg Grand Cru (1949) did you guys drink anyway??? … you guys must have been “drunk out of your minds” to believe the stock and bond markets are now “as stable as they have ever been” … “real” inflation is currently 9% … and you guys are buying 10, 20, 30, 50 and 100 year bonds “with negative yields”?? … do you guys realize you are losing purchasing power of approximately 10% per year on your bonds which makes your investments worthless in 10 years?? … hopefully you guys are a bit more sober now … so rub those blurry eyes … and look at this chart of your “stable bond market” … https://static.seekingalpha.com/uploads/2019/7/21/saupload_bond-bubble-negative-yields.png … central banks around the world have been expanding their money supply and using this printed money to buy bonds … and this “money printing out of thin air” is what has pushed yields to extremely low levels … guys wake up … this is the reason why bond and stock valuations are at historically expensive levels! … rather than “you investment gurus” getting paid interest in exchange for owning a bond … you “wise” guys are “paying for the privilege of lending money to governments” … so what are you really supposed to be buying? … hopefully you fellows have sobered up enough (after drinking so many bottles of 1949 Domaine Leroy Richebourg Grand Cru) to look at this “chart of equities vs commodities” with an unfogged brain … https://static.seekingalpha.com/uploads/2019/7/21/saupload_commodities-vs-equities-2018.png … do you see the picture Stan? … the scene is set for an exodus from stocks and bonds (stock and bond prices have never been this high in modern history) … “truly smart money” is beginning to move into the precious metals sector (particularly silver) as the inflation-adjusted yields on bank accounts and bonds are currently low to zero to negative … Stan this is exactly when gold, silver and other precious metals historically do a better job of preserving investors long-term purchasing power … to be shorting gold and silver is suicidal!!

      • Stan

        Paul: I don’t care for negative yielding debt although I’ve own some and profited on it handsomely. I prefer to invest in derivatives, currencies and options. We only consumed one bottle of Domaine Leroy Richebourg Grand Cru – and a few other vintage wines. We had a blast. I wish a guy like you was there – we would have purchased some Bud Light for you so you would feel more comfortable. Your equities vs commodities chart has no meaning in today’s investment world. Technology is making commodity production cheaper year after year. Someday there may be negative yielding commodities! How do you like that Paul? Being paid to take possession of a bar of copper of silver! BTW, I shorted more Gold today – made a bunch of money.

    • JC

      Thanks Stan. Thanks for sharing. You are the best.

    • Mike R

      Stan – since when has anyone sat around at a table, and admitted as a group they really really suck at their job ? Of course, over a bottle of alcohol, the chuckles would simply benervous laughter, as they are being called out in public. In your fantasy, Your fed moles who work in the dark, and in secrecy, are being exposed. You need a new set of fantasy friends, Stan. Seriously, the lies are growing more boring by the day, and attempting to ‘spice’ them up by adding what alcoholic beverage you are choking on, certainly does not add an ounce of cred to your imaginative stories. You’re a very sick man Stan, and coming on here to tell made up stories, demonstrates your need to get some mental help.

  51. Andy

    Thanks once again Greg for bringing such a knowledgeable and insightful guest.
    Michael really lays out the specifics of the end game of the financial “system “. I wish I could point out the flaws in his observations, but sadly I can only agree with his analysis.

  52. mike

    One serious question: Why do people like Michael Pento get into a frenzy when they see debt skyrocketing all over the world? Debt has been accepted as normal and essential fuel for the economy/financial system and that means there can be no debt ceiling. There is no physical, mathematical or logical reason why quadrillions of dollars of global debt will be any different than trillions of dollars of global debt. Provided that all governments, corporations and wealthy people simultaneously increase their debt exposure, as we see today, the level of debt relative to any figure, whether GDP, asset base, annual income, or whatever, is of no significance. Can someone tell me how they determine or calculate an upper limit of global debt?

    • paul ...

      Mike … there is no upper limit to debt … and therefore there is no upper limit to gold (in terms of the quantity of debt outstanding) … therefore … as long as one owns gold … it doesn’t matter how much debt is created … the banksters know this … and are buying gold … however to the poor millennials (buying chocolate bars) … skyrocketing debt does have profound significance!!

  53. Virginia Conway

    Greg, I loved and appreciated your link to the Open Bible. Those are the ideals I was raised to believe and love and so have tried to live my life. It is so disheartening at this time to live in a world such beliefs seem absent in the masses, we are led to believe exist.
    Thank you.

  54. Robert

    I see lots of doom and gloom being predicted all the time, while the economy trudges along.

    Also hear lots of predictions of civil unrest and war talked about as coming too. At this time though, every interaction I have with a wide array of racial and ethnic peoples, that has no politicization to the encounter, has been for the most part, very positive and not reflective of any great tensions amongst the masses.

    The only people on edge are the political junkies that live eat and breathe all the divisions our msm dumps on us, on a hourly daily weekly basis.

    I know there are forces out there trying to get us at each other’s throats, but so far most people don’t want to go there. I’d like to think if the economy does go negative and times become hard, that there’s enough decent people out there that chaos and mayhem won’t be the order of the day, even though there are forces trying to bring that about.

  55. SilverHawk

    I listened to the interview twice and have no idea what he said. Is it like 10 mortgages are bundled into a mortgage back security and then used as collateral in another security? An IOU on top of another IOU on top of another IOU? And each time a new 99 dollars are created out of thin air for every dollar lent? My oh my, Bernie Madoff’S PONZIE scheme was easier to follow then the banksters ponzie scheme is doing. It just needs to end for cryin out loud. The dollar in worthless, already. Gold and Silver are money. Period. Federal Reserve notes are constitutionally illegal and are being used to steal the wealth from the people of this country. And the political leaders are all accessories to this crime. Just sitting back on my stash waiting for the end, so it can be my time to buy it back for pennies on the 100’s of dollars.

  56. terry reps

    Very informative ; I boughtt his book and agree with him completely. Mr. Pento’s explanations can be summed up succinctly ; ” WEIMAR ON STEROIDS “

  57. James Brown

    Thank you Greg!
    Michael is great.
    You asked the right questions.

  58. Justn Observer

    Greg, Looks like next year the U.S. will enter into the new ‘reality’ of justice by the JUST US crew = pre-cognition/ per crime predictive analysis, listing, and surveillance of ‘potential’ future criminals and possible act to considered ‘terrorist’ against the establishment? Who decides and what is the dimensional qualities: Psychological profiles, political or religious views, failure to accept or execute ‘proper’ entrainment or ‘correct’ propagandized policy? on those that might fail to teach or express ‘accepted’ authorized history, views on climate, social and cultural meme? That ‘an agency’ can ‘implement’ such without actual laws being passed seems rather arbitrary and Orwellian indeed – AND dangerous to not only the people but to the tenents of free expression, assembly, privacy, practice of the freedoms under the Constitution… without being ‘listed’, ‘categorized’, and subjected to profiling in advance ( data base /dossier all individuals for later use) to be used if one’s views are ‘perceived to be off the reservation or against ‘current’ one prescribed for the plantation by whoever is currently in charge? Where and when do we tattooed with a bar code or IG Farben number for culling at the gates…who gets put to death, who gets a ride to the slave labor camp, who get psychological retraining, and who gets to be experimented on?
    ” It is important to point out that such initiatives, whether HARPA or Barr’s newly announced program, are likely to define “mental illness” to include some political beliefs, given that the FBI recently stated in an internal memo that “conspiracy theories” were motivating some domestic terror threats and a series of questionable academic studies have sought to link “conspiracy theorists” to mental illnesses. Thus, the Department of Justice and “mental health professionals” have essentially already defined those who express disbelief in official government narratives as both a terror threat and mentally ill — and thus worthy of special attention from pre-crime programs.”
    So then one migh surmise…if you DO NOT ascribe to the lone gun theory of JFK, disbelieve the 911 narrative, or go along with global carbon credits when science shows manmade carbon is NOT leading to ‘global warming/climate change’ when we know it is a solar cyclical event…might be considered ‘terrorists’ needing watching? hmm

  59. Dottie

    My Son thinks your great Greg and your guests too! Thanks for putting yourself on the line for TRUTH! A lotta demons out there. Amazing how knowledge is true power. God Bless!

    • Greg Hunter

      Thanks Dottie!

  60. Bill B

    I am praying for our Lord and Savior to remove Adam Shiff from his position as chairman of the committee

  61. Diane

    Catherine Austin is tweeted this

    Getting reports that US banks are offering retail customers $600-800 cash back for $50,000 deposit for 90 days – that is an annualized rate of +6%

    • Greg Hunter

      If this is an actual tweet from Catherine Austin Fitts it real. Fitts is the real deal and would never lie.

    • paul ...

      If you put $50,000 into a bank … you are in effect “lending the bank your money” … becoming a creditor at the end of a long line … and (with the current dangerous world banking conditions) if the bank goes under and is no longer around in 90 days … then what? … you do have a legal right to make a claim in bankruptcy court … but will there be “any money left after the top tier creditors are paid”? … yes… the FDIC will step in … but they only have funds sufficient to pay you 1 cent on the dollar … Ponzi schemes always promise a high yield … if the banks begin to fail (a very likely possibility) … this offer will simply turn out to be just “another Ponzi scheme” by your trustworthy banksters (who previously sold you mortgage backed security’s yielding 10%)!!

      • paul jr.

        Sorry Paul but the FDIC has much more money available to them than what they have in their deposit insurance fund to pay insured depositors. So there should be no concerns at least about that. Having said that I still would not take them up on their offer. Not worth locking your money up for 90 days.

    • paul jr.

      Those kinds of offer have been going on for many years. Many banks offer such incentives especially for new accounts.


    • Bob Lamb

      My wife was telling me about this and wanted to move some money (not that high of a requirement) to one of the banks to get that money. I don’ t want to do it because I don’t trust those banks and think they must be in trouble to make such offers. I bank at a credit union which I hope is safer.

      • paul jr.


        Banks make such offers all the time so it is not an indication that they are in trouble. And credit unions are not any safer than banks.

  62. Diane

    Greg? Can you verify this?

  63. paul ...

    Breaking News: Pelosi effectively states:”There is no Constitutional requirement that the House of Representatives authorize an impeachment inquiry before one begins … and House Representative members don’t have to read the impeachment document until after it is passed”!! …
    House minority leader Kevin McCarthy (R-CA) responding to Nancy Pelosi’s “unilaterally declared impeachment inquiry” stated: This unilaterally declared impeachment process has been botched from the start and “we will not legitimize the Schiff/Pelosi impeachment sham” … https://www.zerohedge.com/political/pelosi-hold-vote-impeachment-inquiry-week

  64. JC


    Getting reports that US banks are offering retail customers $600-800 cash back for $50,000 deposit for 90 days – that is an annualized rate of +6%


  65. paul ...

    You Know … isn’t it a bit strange that Hillary Clinton an avowed Marxist “commie” socialist (who wrote a thesis on The 12 Rules for Marxist Terrorists) is “is not a Russian asset” … yet … someone like Tulsi Gabbard (who believes in the US Constitution and seeks Peace) is labeled such by the DNC’s biggest avowed socialist commie Marxist Demon-rat??? … https://www.zerohedge.com/political/america-has-officially-gone-insane

    • paul ...

      Seems Warren may be Hillary’s VP … as Hillary thinks she has a relationship with God … and figures if she say’s “I Believe in Jesus” often enough she will be elected … no Hillary … you can’t just “say” you believe in Jesus … you must “act like Jesus” to enter the White House … you know the way Tulsi does!! … https://www.zerohedge.com/political/hillary-will-run-2020-because-she-feels-she-was-put-earth-be-president-clinton-ally-says

      • paul ...

        We need more US Generals “acting like Jesus” rather then being shills for the MIC warmongers … a retired U.S. Army major who served combat tours with reconnaissance units in Iraq and Afghanistan and later taught history at West Point speaks out like Tulsi Gabbard … https://www.truthdig.com/articles/suddenly-outspoken-generals-rally-around-the-wrong-cause/ … you know … “acting like Jesus” means you don’t take part in impeachment fraud … notice how the Demon-rats are doing everything in their power “to protect a whistleblower” when it justifies “an illegitimate impeachment sham” … yet these same Demon-rats want to “hang whistleblowers Assange and Snowden” when what they say undermines their evil agenda … just like the Deep State did to Jesus in his day … the Denon-rats today spread lies and do evil … working up the people into a frenzy to put a crown of thorns on Trumps head … and let roam free (and run for President) the Barrabus of our day … “Hillary”!!

        • paul ...

          err: Denon -> Demon … Barrabus -> Barabbas

  66. Justn Observer

    Greg, The real backstory the MSM will not reveal?

  67. paul ...

    You know … yesterday was the 90th anniversary of the 1929 Stock Market Crash (October 28, 1929) known as “Black Monday” … although no crash occurred yesterday and the Dow is more than 70x higher than it was in mid-1929 … was all the time spent reading the Wall Street Journal and riding all the waves of market turmoil necessary? … when you consider the effects of inflation … stocks are “only 5x higher” over the past 90 years … that works out to an average annualized return of just 1.7% … so was all the risks and wild market swings investors had to deal with worth it … for a measly 1.7%?? … when gold (adjusted for inflation) “has outperformed stocks over the same time period”!! … adjusted for inflation gold has averaged a 1.8% return since 1929 … and the only work you had to do with your gold investment “was to buy it … carry it home … and enjoy counting your gold coins every night” … and you would have “done better” then all the highfalutin Mutual Fund Managers who for their “expertise” charge commissions “for managing your money” to make less then “simply holding physical gold”!!

    • paul ...

      Yet investors struggle with decisions on “what to buy and when to sell” as the Market extends its record-breaking rally with optimism over the China trade deal and an anticipated Fed rate cut tomorrow … when they can be simply enjoying the relatively short life God has granted them here on Earth … by simply owning God’s gold … and not worrying about possible market crashes, bank runs, inflation, deflation, etc., etc., etc.!!!

      • paul ...

        It is time for everyone to turn off their TV sets … and stop the blaring in our ears … that European stock losses followed a mixed performance in Asia (where stocks gained for a fourth day) with materials and health care sectors advancing, following a rally in the US equities that pushed the S&P 500 Index to a record … and Japan’s Nikkei rose 0.4% to reach a 2019 high … while Shanghai stocks dropped after a warning against speculation on blockchain-related stocks depressed trading (one day after blockchain stocks soared) … and India’s Sensex Index rose the most while China’s Shanghai Composite Index is lagging … Asian stock markets are jumping on earnings optimism as Japan’s Topix Index closed at its highest level since Dec. 3 … while China’s shares retreated after a two-day gain … dragged down by progress in US-China trade talks which helped boost risk-on sentiment in the region … Trump says the US is ahead of schedule to sign a big portion of the China deal … etc., etc., etc., etc., etc. … Just Turn It All Off … Get Out Of The System … Just Buy Physical Gold … And Finally Enjoy Your Life!!!

  68. Stan

    Huge bear flag forming in Gold

    • Greg Hunter

      Is like when you went short when gold was $1,300?

  69. JC

    Bruce Wild ‘s blog

    In his book “A Time For Action” written in 1980 William Simon, a former Secretary of the Treasury tells how he was “frightened and angry”. In short, he sounded the trumpet about how he saw the country was heading down the wrong path. William Simon (1927 – 2000) was a businessman and a philanthropist. He became the Secretary of the Treasury on May 8, 1974, during the Nixon administration and was reappointed by President Ford and served until 1977.

    I recently picked up a copy of the book that I had read decades ago and while re-reading it I reflected on and tried to evaluate the events that brought us to today. As often the future is unpredictable, looking back, it is hard to imagine how we have made it this long without finding long-term solutions and addressing the concerns that Simon wrote about so many years ago. Back then it was about billions of dollars of debt, today it is about trillions of dollars. It appears that something has gone very wrong.


  70. Justn Observer

    Greg, Report from Uranium one – Mark Lambert trial…= heading to the no deal deal with Iran…and Bill Taylor and all those hoping to take down Trump before the ‘revealations’ of the length and massive pay to play with nuclear materials have been going on? Just how is this all supposed to be on Trump ? lol Two twin Russian spies working under Fiona Hill for Bill Taylor IN the Whitehouse?

  71. Bob Lamb

    “In coming days, it will not be possible to survive spiritually without the guiding, directing, comforting, and constant influence of the Holy Ghost,” Russell M. Nelson
    20 April 2019

  72. Matt

    Somewhat disappointed that Mike Pento went out the door of this interview without mentioning or being asked about why he sold ALL OF HIS GOLD positions recently. Pento was on Max Keiser’s Report within past two weeks and stated there that he has exited (sold) his gold positions in his portfolio…Keiser unfortunately did not pursue
    this with the logical question…WHY??
    Not trolling you here Greg, perhaps this slipped your notice…but I am surprised
    that the subject of metals and the P.M. market in general did not get a mention in this interview. Not to worry…USA Watchdog is still in a league of its own!

    • Greg Hunter

      All positions are I think are trading positions. I think he recommends holding physical as a core asset. This is what he’s told me in the past.

  73. Cameron

    Wow….this news is ground breaking!!!…1st time Ive heard of it on this site….guest claiming financial ruin and of course has a way to protect you for a cost.of course…old

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