Most Dangerous Market Ever – Michael Pento

By Greg Hunter’s 

Money manager Michael Pento is sounding the alarm because we are getting very close to something called a “yield curve inversion.” Pento explains, “Why do I care if the yield curve inverts? Because 9 out of the last 10 times the yield curve inverted, we had a recession. . . . The spread with the yield curve is the narrowest it has been since outside of the start of the Great Recession that commenced in December of 2007. . . . The last two times the yield curve inverted, we had a stock market drop of 50%. The market dropped, and the S&P 500 lost 50% of its value.”

Can we keep partying in the markets like it’s 1999 or is there an expiration date for the good times? Pento says, “Well, I have put a check on the calendar for October because of the fact the rate of quantitative easing goes to $15 billion per year, because the trade war will reach a crescendo, then because I believe, unfortunately because I am conservative, the Republicans lose the House of Representatives, because the Chinese credit boom will be in full reverse by October. It is a confluence of events coming in October . . . we’ve already entered into the beginnings of a bear market around the world. The top 22 banks in the world are in a bear market. There are many, many examples of banks around the world that are in a bear market. You have a bear market in Chinese shares. 20% of the S&P 500 is in a bear market. This is an incipient bear market that is already beginning. I believe it manifests clearly to even the people on CNBC by October.”

Where is there going to be the biggest trouble? Pento says, “I have identified the nucleus of the next recession/depression to be corporate debt and not the housing market. We have a record amount of corporate debt outstanding right now. It is 45% of GDP. It has never ever been higher, but the quality of that debt . . . BBB, which is the lowest rung . . . of investment grade debt accounts for 50% of investment grade. The number of zombie companies is at a record high. . . . So, there is a record amount of debt, the quality of the debt is at a record low, and you have a record amount of companies just existing as zombies. They have to issue debt to pay back existing debt. . . . The amount of zombie companies is going to surge when we get the next recession. The amount of credit defaults is going to surge. . . . The construct of corporate debt is so dangerous that when we hit a recession, defaults are going to skyrocket like we have never seen before. You will be talking about the layoffs and the plunge in the market and economic growth on a global basis.”

Pento also predicts, “The U.S. is not an island. The U.S. is not going to have 4% GDP growth while the rest of the world implodes. . . . I look at the data, and data says this is the most dangerous market ever. This is the most precarious GDP on a global basis that we have ever had. Global central banks have never before printed $12 trillion. . . . We have never before had that happen, and the reason why they did it is to take sovereign debt into zero and negative territory so we can go on this inflation quest so asset prices don’t implode. That is all turned on its head. They have reached their inflation and it’s starting to unwind, and this whole thing is going to collapse. When it collapses, the primary beneficiary is going to be the gold market. . . . You should always have 5% to 10%, and if you are waiting, you are running out of time to get it cheaply. . . . I don’t think there is much downside to buying physical gold here, and you are running out of time if you have no position at all.”

Join Greg Hunter as he goes One-on-One with Michael Pento, founder of Pento Portfolio Strategies.

(This interview will talk about the coming recession and the inverting yield curve, record amounts of corporate debt and gold and silver in physical form as financial protection.)

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After the Interview:

Michael Pento added another omen for the markets. Pento says, “NYSE margin debt is at record high levels and cash is at record low levels. This means people will be wiped out more quickly and more thoroughly than ever before.”

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  1. paul ...

    Over the last 1.5 years gold has rallied out of the $1225-$1250 support area six(6) times … hit resistance at $1375 and fall back … what we want to see is gold break and hold above $1375 … September 2018 is the likely time we will see this happen!!

    • JMiller

      Yep. Gold was very oversold and when it hit support right at $1238, which was the low from 6 month ago, and got a nice bounce as expected. Near-term resistance is around $1280. It would not be unexpected to see gold go back down to at least test the $1238 mark.

      Gold is also beginning to enter it’s strong seasonality period.

    • Paul ...

      Pento says that the nucleus of the coming problem will be corporate debt … true, but will the Fed simply bail out these corporations the way they bailed out General Motors, etc.? … the crooks are running wild on Wall Street … look at how Goldman Sachs has been bailed out numerous times … [quoted from a recent SEC article] “in the annals of U.S. banking, no major institution has ever survived pleading guilty to three felony counts, much less left their Chairman and CEO in place after those three felony counts. And yet, that’s exactly what the U.S. Justice Department and SEC have allowed to occur in the case of Jamie Dimon.”

      • paul ...

        A new problem for the US economy is the Trade War now getting into high gear … China has just asked the EU to form a Grand Economic Alliance” with China against the US and join them in countering Trump’s Trade War by offering to open their 1.38 Billion people market to the EU … will the EU be tempted? … or remain loyal to Washington to avoid sanctions on them by Trump? … logically “the better deal” is for the EU to sell their products into a market that is four(4) times larger then the US market … the US may soon begin to see the entire world join together against it … if only because the US “is an Exceptional Nation” (in terms of the number of crooks, thieves, etc., etc. we have controlling our banking system and economy)! …

    • Ross

      Gold prices will not rise unless people lose faith in the system or their debt money creation system fails to keep all the bubbles inflated. It could go on for a few more years because the real economy detached from the fake economy many decades ago. The manipulation of all markets via money creation is mind boggling. The soothsayers from Bo Polny , Cliff High and dozens more ,all have egg on their faces. No one can predict the future, just study the trends that might take us there, like Gerald Celente.

      • Greg Hunter

        You do realize we have a $21 trillion deficit and another $21 trillion “missing” from the DOD and HUD?

        • Ross

          Yes Greg .We are all amazed how this farce continues. It looks like reaching a head very soon but we have been wrong before.

  2. john duffy

    Liberty and Justice for All

      • Greg Hunter

        I think they cut him that sweet deal for him singing like a bird and rolling over on his coconspirators in the U.S. government and House.

        • Chip

          I hope you’re right Greg… Chip

    • Paul ...

      As we celibate our “independence” I wonder from who? … seems we have become very “dependent” on a Deep State that continually provides us with non-stop wars and forcing nations to become our enemies (so as to promote further wars in the future) … when is independence day going to mean we are “independent of war “… but Deep State Demon-rats and Reptilicans just won’t allow it to happen … the Demon-rats under Hillary worked to destroy the Christian family unit (i.e. It Takes a “Commie” Village) to undermine traditional Christian morals … which would lay the ground work for their Utopian Socialist Revolution … and the Reptilicans want to expand our nuclear arsenal (which can never be used) and add to our Army, Navy and Air Force a Space Force “to suck even more money we don’t have” into a bloated Defense Budget where Trillions of dollars simply disappear each year! … Happy Dependence Day!!

      • Paul ...

        I don’t think Macy’s putting on “their largest fireworks display ever this July 4th” is going to encourage “a more awakened populous” to be more patriotic … knowing what they know about “the crooked system” they live under from Wall Street and the Fed to Washington and the Special Interest MIC Groups to the Pedophiles, Drug Cartel and Human Trafficking in Organs!! …

      • Andre

        Ask average college students who they are celebrating independence from.
        Just kidding we all know they wouldn’t know. Isn’t it sad?

        However, did US ever had government of the people, by the people? Watch this documentary- American’s secret beginning.

        • Paul ...

          Andre … Freemasons may love trigonometry … right triangles… isosceles triangles (one pointing up and one pointing down) … indicating “As Above – So Below” … but what do they practice? … they drink blood out of human skulls and eat human flesh … practice pedophilia … and will kill women and children in a nuclear first strike … such people may say they want to do God’s work above down below here on Earth … but they are doing just the opposite … a One World Order to make the US into a “New Atlantis” controlling the world in a commonwealth of highly enlightened democratic nations is a nice dream … but if the Masonic leadership of this New World Order is drinking blood out of human skulls and have a skull and bones insignia on their arm … what makes them any different from Hitler’s Nazi SS storm troopers (they pretend to be “perfected men”) but they Don’t Do As God Above (with all their continual wars and killing … how many more millions of innocent women and children have to die?) … instead they do as Satan below! … and this is why the world is now rising up against these Freemasons … their “New Atlantis” is going to sink below the waves just like the “Old Atlantis … they were supposed to make us into an “Enlightened Democracy” … instead they have made us into a Satanist Blood Drinking Pagan Warmongering Nation!! … everyone should realize by now that that 33 they are so proud of … represents 1/3rd … the same fraction of evil ones God threw out of Heaven Above (likely because he could not tolerate their lust for blood)!!

    • Andre

      John duffy
      Thank you for this link. Nice catholic site. Here are some words from the horse’s mouth:

      Here is headline:
      Vatican Calls for Oversight of the World’s Finances

      A quote:
      “For today Rome considers the Fascist regime the nearest to its dogmas and interest”

      Pius XI tells us this in his 1931 encyclical Quadragesimo Anno:

      “Under Fascism, property owners may keep their property titles and deeds, but the use of their property is, as Leo XIII wrote, “common”. Fascism is a form of socialism that retains the forms and trappings of capitalism, but not its substance. Under Fascism, property titles and deeds are intact, but the institution of private property has disappeared. Government regulations and mandates have replaced it. For this distinction between legal ownership and actual use, the fascists owe a debt to the Roman Church-State (emphases added).”

  3. Gary

    Thank you for sharing this, Greg. I particularly like Michael Pento. He explains things so even I can understand it! God bless.

    • Greg Hunter

      Me too Gary. Thank you.

    • Jodyp

      Same here. Does that make us part of the Me Too movement?!

  4. oneno

    Did MP have a chance to see this 16-year rising support chart on Gold?

    Those who control fiat control pricing from the demand side especially with growing population environment. People require food, clothing, shelter and will do anything for the basics. The US population will double in 10-years time from the current 327 million. That population number is understated by at least 10% in my opinion.

    • William Stanley

      oneno, Some questions:
      1) Why do you think the US population will double in ten years? That seems pretty high (something over 7% per year). Are you assuming open borders?
      2) Is your point that a rising US population would require bigger budget deficits which would, in turn, require an increase in the money supply, which would pressure prices higher (presumably, because output would not keep up with the population and money-supply increases)? And, that all of this would put upward pressure on the price of gold (and all other commodities)?

      • oneno

        William Stanley,

        Please listen to this mp3 Science Hour Broadcast starting at the 5:57 mark as response to your question 1 on (open borders):

        Mexico is said to have “doubled its population 3x in the last 30 years. Every 10 years Mexico doubles its population and thats with a mortality rate of 50% for children under age 10. So when they come to the United States, they don’t have that mortality rate but there is still having babies – every 13 year-old girl already has a baby. And that’s their ticket to ride they believe – that’s their belief. The point is between Mexico and the United States, there are two countries in the world that are billion population countries. there is China, there is India. The then United States has the third highest population. And we have officially 324 million people – its probably closer to 400 million but Mexico is probably pushing 150 million now. They don’t keep a decent Census. The last real Cencus was probably about eight years ago at 2010. They said it was a 107 million, and that has probably closed to doubled at this time. So between the United States and Mexico, there is a half a billion people here. And literally – and its not due to the United States native population that was here ten years ago. It is strictly due to immigrant over-population. So that says that within the next ten years, we’re going to be pushing a population 7 – 8 hundred million people in this country (United States). It can’t happen (work) – there is not enough room – and the massive explosion of population – its in Africa, quite a few countries – there is the Mid-East, quite a few countries – and of course China and India are just going crazy. But really, we don’t have a lot of influx from China and India. We do in the sense of technicians working in industries where they’re contractors. But the Mexican population that is comming in typically has no skills, and the peroblem is the expansive – explosive population growth that we can’t handle. And most of this population growth in Mexico, and in the population in the United States, are kids under ten years-old. They are not visible on the radar.”

        Keep in mind, the recent Zerohedge article on Immigration being very big business (financially and politcally) on both sides of the border.

        In response to your second question; Rising population (mainly due to immigration – most of whom are not visible on the radar as they are under 10 years-old – would see a delayed impact on raising budget deficits (by at least 8 years). But more important, over-population decreases the standard of living for all as there is a race to the bottom in pricing for labor. These undocumented labourers add tp pressure on consumption – destroying the environment. A lot more people means less space to live. You get a tiny very wealthy rulling class, a shrinking middle-class, and an overwhelming poor-class. The price of everything will crash with extreme shortages – think empty store shelves. The paper price of gold will be manipulated lower to facilitate the dumping of any PMs in the possession of the masses towards the very wealthy just like when they made gold illegal and offerred to purchase gold at the prevailing price before raising the USD value of gold to $35 per oz and of course, you were not allowed to own any. Those who control fiat, with standing armies, control pricing to their advantage. Kenesian economics doesn’t work and was/is deliberately injected into the “Public Fool System” to control your thinking just as the phrase “be fruitful and multiply” was injected into religion – a very long time ago – to enslave the growing masses through their tendency to over-populate.

        • William Stanley

          oneno: Thanks for the detailed explanation; that had to take some time and effort and I appreciate it.
          I’m amazed at how you managed that long quote regarding my first question — did you use voice recognition software — or do you just have a phenomenal memory?

    • paul ...

      oneno … Sometimes the crooks on Wall Street will push prices below trend lines to scare investors out of their long positions just before they turn things back up … lets not panic … that green line on your 16 yr chart looks like it was drawn a bit to high … but say this is a true breakdown … likely instigated by the plunge protection team to screw Russia and China (who are big gold owners) … I would expect both Russia and China to take advantage of the situation and sell US Treasuries outright (instead of just waiting for them to mature) to buy even more gold (holding its price or driving it up) … and all the selling of US Treasuries will “weaken the US dollar” which will tend to strengthen gold even more!

      • paul ...

        If this is a true break … I’ll owe Harry Dent an apology … but wouldn’t it be “a dream come true” to be able to buy gold at $300 dollars per ounce … dollar cost averaging one(1) ounce of gold at $1350 with seven(7) additional ounces of gold at $300 will bring my overall average cost down to $431.25 … not bad … not bad at all!!

        • oneno

          Gold at $300 will be in backwardation! You will not be able to get any unless you somehow mine it yourself!

  5. James

    Emerging markets are down for sure, except for Russia. The Russian’s RTS index is up over 16% in the last year. This is just one of the benefits of having a miniscule sovereign debt load. The good things happening in Russia are never mentioned, but that doesn’t mean they’re not happening.

    • paul ...

      But Trump is telling the EU to stop buying oil from Russia (and Iran) … and he will supply the EU with all the oil they need … but where is Trump going to get all the oil the EU needs?? …

      • paul ...

        So how many wars is the US involved in right now? … I lost count … but it’s not enough I see!! … what was that freemason motto “As Above (the equator) So Below”!!

        • paul ...

          So Trump thinks that he can cut off Iran from selling their oil but Iran has no right to cut off Saudi oil going to Europe? … looks like Trump is on to “another war” our children will have to fight … so rich America is going to immorally steal “other peoples oil”?? …

          • paul ...

            It seems like the US must invent dangers … and to do this … it must adopt the methods of provocation and revenge [taken from a quote by Moshe Sharett (Israeli’s first Foreign Minister)].

  6. William Stanley

    Mr. Hunter: Thanks for keeping up this string of genius guests.
    Mr. Pento is always impressive and, once again, he nails it.
    BTW, Happy July 4th!

  7. Anthony Australia

    Pento Perfection. Greg you are hot, these last two weeks have just blown me away.
    You are more than USAWD, you are The Global Monitor!

  8. Maria das Santos

    Thanks Mr Hunter and Mr Pento,”zombification”seems to be the order of the day.
    Compared to Europe and the UK ,The United States of America is a veritable tome of decency.Here socialism (communism)runs deep and crony,only those in the inner ring of the Blond Beast get contracts,that is more correctly known as “brown bag “contracts.The “brown bag”may contain money,which we in Britain would rather eat our children than give away,or “compromising”material .The ZIL lane also is smooth for those connected to this brand of “socialism”,but now bumps and potholes lurk full of IEDs lurk on this glorious road and a few screams are emanating from the beastly.
    Notoriously European zombie companies have issued “bonds”handed them to the ECB,so avoiding the market,received fresh Euros and promptly paid out dividends to owners and most important management.Really old companies are being destroyed with this model.
    Here in the UK,the Sun is shining,terrorism lurks and abounds seemingly,real life inflation is off the charts and we are in the doldrums of Summer and the only business in town is buying and selling houses with fantasy money and incompetence in our banks, Sabbadel/Trustee Savings Bank ,is delicious to behold .So what could go wrong again?

    • Andre

      Maria das Santos,
      This must be a really nice place. You are making me want to move there.

  9. Robert Lykens

    Happy July 4th, America’s Independence Day!
    This is the day on which we celebrate not only our national independence from foreign powers, but our independence to worship freely, as our consciences dictate.
    America was founded as a Christian nation, by Christian believers. Our forefathers warned that our style of government was wholly inadequate for a non-religious people.
    On this day, I urge each of you, believers and unbelievers alike, to seek the redemption that is found in Jesus Christ. You will find in him the meaning and purpose of your life.

    • This sceptred Isle

      You only have to look at a dollar bill to see who owns America. Why is there an Egyptian style obelisk in Washington?

      • Greg Hunter

        Just look at the imprisonment of Tommy Robinson by you leaders who are protecting muslim pedophiles over the people of the UK.

        • This sceptred Isle

          The ancient powers never relinquish control as easily as you assume. If it appears thus you have been deceived.

        • Charles H

          Relentless compensation… fault-finding with the best; in order to ignore the morass in the backyard. It’s like the great white hunter in a Tarzan movie, being sucked down into the quicksand – and yelling at the rest of the party what bad trail-guides they are! Well, yeah… name the names: but who is in the quicksand?

          • This Sceptred Isle

            I prefer to think of it as constructive criticism. Your country has a youthful vigour and rebellious nature. Do you imagine that the ancient powers would ever relinquish power so easily?

      • Robert Lykens

        Jesus Christ “owns” America and rules with love, righteousness, grace and mercy. He “owns” England too, and Egypt, and the whole world. I advise you to seek him while he may be found because one day – very soon I believe – the opportunity will be gone. I’d hate to see you on the wrong side of the throne my friend.

  10. Robert Lykens

    Strange Quotes, Volume 1:
    “Joint teams from Israel and one of the neighboring countries make the clouds entering into Iran barren. Moreover, we are faced with the cases of cloud theft and snow theft,” says Brig. Gen. Gholam Reza Jalali, head of Iran’s civil defense organization.

  11. David

    Timely and informative. Thank you and Happy 4th of July!

  12. Jerry

    Let me recap what the Chinese have done since 2008:
    They have created the BRICS Bank
    They have created AIIB
    They have created CIPS
    They gained reserve currency status
    They have acquired the worlds largest gold reserve
    They have created the petroyuan
    They have opened the Shanghai gold exchange.
    They have completed the Silk Road Project
    They have created trade platforms worldwide within the central banks.

    Greg do you really think the Chinese are going to roll over with the dollar after creating all of these economic trade platforms? I don’t. When the time comes they will split the world economy in half dollar be damned.

      • Andre


        If they are selling USD, what they are buying? It must be something for something. They can’t get gold.

        • FC

          This should have been first on their list……..perhaps this is the reason why China isn’t concerned about America defaulting but they’re smart enough to hedge against a returning favor.

        • Jerry

          The answer is gold.

          When China has drained the COMEX of physical gold, they will reset the gold prices and launch a gold backed currency. That is and has been the plan from the very beginning and these poor slobs who have been buying paper will be looking for the nearest window when it happens. That is not only a reality, it is a historical fact that when debt bubbles burst this is what happens. Delay, deny, strategies are a recipe for disaster. They always have been.

          • Andre

            Sure Chinese are buying physical gold and also Chinese government encouraged citizens to buy gold. But, I don’t believe there is enough physical in COMEX to supply for all the USD Chinese have.
            They are selling one currency against the other and then they reverse the course so the prices go up and the prices go down so if you know which way they go, you make a lot of money. There is no profit for banking cartel on flat prices.
            But fiat currency is much more convenient for any government to use and can be manipulated, printed on demand and so on.
            Why would Chinese back up Yuan with gold? to spend it? This doesn’t make sense now when USD slowly loses reserve currency status and they are using fiat Yuan to buy oil and for any commerce?
            In the near future gold will be banned in US and possible in the rest of the world because they will make impossible to make any transactions beside electronic money. This is what Bible tells me.

          • paul ...

            Jerry … Seems the Bank for International Settlements also believes gold is the answer … in a recent castigation of young people they told these kids to “stop playing their game” (by creating their own crypto currency out of thin air) … obviously to many crooks spoil the broth … and what the BIS is telling these new counter-fiat-ers is that crypto is not a suitable store of value “the way gold is”!! …

        • William Stanley

          Andre: Somehow I think they could buy physical gold if they were willing to offer enough USD in exchange.

          • Andre

            Chinese won’t pay more then market price. They can spend USD buying resources. They are already doing it.
            But we have to remember that China is controlled by the same powers as USA. Just lookup how the communist regime came to power. Same way as Stalin regime. Same way as Hitler regime, Fidel Castro, Hugo Chavez. Regime change doesn’t happen by accident. It requires huge money and support from outside. Even in so called free world as we more and more realize that Blue and Red is actually Purple and there is no right and left but top and bottom.

            • William Stanley

              Andre, re:”But we have to remember that China is controlled by the same powers as USA.”
              Andre, I think it’s more nuanced than that. Think factions, and factions within factions. Think shadowy and shifting alliances between the factions.

              • Andre

                Sure. I agree.

    • Jerry

      Another AIIB deal is sealed, signed, and delivered.

  13. Country Codger

    Fantastic Interview, Greg. Michael’s honesty makes him the scourge of TV-land. That is a rare quality known as integrity, which is in short supply these days in the financial world.
    Lo Iyrah!

  14. Chris Foster

    I like Mike Pento and /but for as smart as he is I will say that he is not smart enough to know when to own Gold and Silver. Yes he has been underweight Gold this year and good for him, but what if the system froze up before he could move money into Gold? I believe when the Globalists pull the plug the music will stop and that will be it. No more bets. Otherwise great interview. Cheers….

    • H. Craig Bradley

      Nobody knows the future and nobody can guess or time markets successfully either.

      • Greg Hunter

        Not trueSome can and have done so.

        • This sceptred Isle

          Greg, I don’t believe Stan really made millions shorting gold at the top of the market.

        • H. Craig Bradley

          EVIDENCE ?

          I will concede its entirely possible through mostly shear luck or even simply by accident, to correctly time a single trade ( buy or sell). However, getting the round-trip spot-on is even less likely for many if not most traders.

          So, just to add some heft to your assertion, why not name a few trades and the specific trader? ( Performance and track records are ALL that really matters with Institutional money or asset managers. In fact, any fund manager for that matter. Most are just average over the long term.

          True, any asset manager or trader can have a luck streak but eventually its ends (mean reversion) and the House wins in the end. The famous Warren Buffet is a (rare) 52 percenter, meaning his track record is one in which 52% of all his trades are profitable. Do you suggest there are a great many traders of Warren Buffet’s caliber out there? If so, give them your money ( pay the fees and get the same as the rest).

          • Greg Hunter

            Buffett is and incompetent fraud (in my opinion) that required a taxpayer bailout to not be put out of business.

            • H. Craig Bradley

              If a true fraud, a corrupt and very wily marketer. I think Buffet was authentic in the beginning, then got a bit greedy in Omaha, Neb. “Folksy” image to get investors to let their guard down (overpay). Good marketing and P.R. for sure. ( No wonder he wants to own newspapers and media). Megaphones to sell product with.

    • This sceptred Isle

      A fair point and well made sir!

      • This sceptred Isle

        I believe that he is a paper gold merchant anyway, so if the system crashed he could use the certificates as toilet paper.

        • This sceptred Isle

          So he is smart enough to realise that you can’t wipe your arse with metal bars.

          • Charles H

            No. You can get someone else to do that – for the metal bars.

    • Clare Doll

      My feelings exactly. Wish I had said something sooner but I had the SAME reservations while listening to the interview!

  15. al

    Greg, I noticed that all of your guests in the past 2 weeks are pointing to NOW as the time. When the market topped in Jan 08 and started crashing, no one took note until months later. It was considered a “hiccup” back then, a “healthy pullback”. Regular sheeple started taking note at the end of 2008 to early 09. I remember that because I was still looking for a home as prices were going down, ready to pay much less but no one would budge because they believed prices have bottomed. This was in 2009!

    Gold dipped down but came back fast, real estate suffered a downturn for years. World Central Bank collusion and intervention took a while to work itself in to the system. I remember people like Pento, Schiff, Willie, Kirby and Chapman (now deceased) and others screaming about the intervention. Now it’s the opposite. Apparently that bullet has been shot.

    What will happen to Gold if there is no intervention? What about Real Estate? Will the 2008 crash ever be able to continue and fully resolve itself this time?

    Pento had it right back then and he’s spot on today.

    By the way, thanks to Pento, Schiff and others I was able to buy a house on the cheap in 2011 where I still live today. That’s the power of truth media.

    • William Stanley

      al: I’ve always admired your comments; today is no different.
      NOW does seem to be the time to buy gold if you have not already maxed out a prudent position in it. Still, it’s hard not to get greedy with gold and silver prices so low in this dangerous environment for stocks.
      As for real estate, I am trying to time the market a little despite the risk: I think we could see falling prices over the next couple of years in a lot of places. I sold out of real estate last year (yup, turned out to be too soon). If real estate prices do fall substantially and then firm up, I’ll probably go back in. Hopefully I won’t wait too long, because after that, I’m gambling, inflation will go completely out of control.
      My point? Although trying to time the market is risky, so is the alternative. We have to deal with risk and uncertainty whether we want to or not. There literally is no place of complete safety. Which is why prepping makes sense to me, especially right now.

  16. Carol

    Good interview! I appreciated his explanations, making them simple so a new investor can understand. Thank you!

    • Greg Hunter

      Thank you Carol. I thought the same thing.

  17. David (Archives Dave) Clumpner

    We all know the recession/depression is somewhere out/ up there how many of these ‘gurus’ have been commanding that it’s ‘right around the corner’ for the past three or four years at least….(some like ‘Broken Clock Harry’ Dent spouting the collapse even farther back.)
    Yup, sooner or later that bad ol’ Black Swan will be swooping down with a humongous ‘Dump’ but it looks to me it’ll not come this year with the success that Trump’s having.
    btw, something to check out: The # 70 is one of the Bible’s most important numbers and this is the 70 th yr of Israel’s rebirth. But here’s the kicker and I’d love to see if you can verify this…. Pres Trump was exactly 70 yrs, 7 months, and 7 weeks old on the day of his inauguration. Snopes and Truthorfiction had nothing to say.

  18. Russ McMeans

    Greg; I finally understand yield curves. Took a few years of listening to these interviews. Confidence in the economic future lies in the long term rates. Now I feel as smart as Frido in the God Father movie…” I’m smart! I’m smart!”…. hilarious. Pento rocks and Rob Kirby and his inside understanding of the Anglo American vs German Euro bank wars was fascinating.
    Will post public on Facebook and email to friends and sceptics. Turn off your tv news now folks.

  19. pat the rat

    The way that my escrow account is acting I think that start of the collapse will start there , no money left after paying my bills. Let the escrow company go bankrupt and all hell happen in real estate.

  20. Roger D

    Awesome interview. Thank you Greg and Mr. Pento.

    Today precious metals are reasonably priced but still available. The same can be said for food. Imagine the torture watching your loved ones suffer greatly and saying to yourself, ‘If I had just spent a lousy $200….’

    For example at Sam’s Club $200 today will buy 100 lbs. of black beans and 650 lbs. of white rice. Unlimited quantities are available TODAY.

    We will soon look back and lament ‘Those were the Good Old Days. For a lousy $200….’.

    • William Stanley

      Roger D: Great comment! Gold is insurance, but so is storage food, and it is amazingly inexpensive . . . now.

    • Charles H

      Awesome comment, Roger D! The “Haves”, and the “Have-nots” situation will be a bleak and cruel landscape to come. Like the 30’s Depression: people will be just stunned and wondering what happened?!??

      • paul ...

        The Haves and Have-nots with respect to guns will also create a bleak and cruel situation if people like Comey have their way … perhaps we should counter propose “taking the guns away from the Government” by shutting down the Military/Industrial Complex!! …

        • paul ...

          Of course the Demon-rats would reply to such a counter proposal by saying: “Nations have a right to defend themselves” … now tell me Demon-rats … how is it “a Nation of people” have the right to defend themselves … but individual people don’t have that same right??

          • paul ...

            The Demon-rats will likely tell us: But individuals can be crazy! … right … like Nations can’t be crazy? … remember Hitler? … so by Demon-rat logic an individual can’t own a gun “but gangs of people” (Nations) can … guess that makes sense to imbeciles … so lets disarm homeowners and allow MS13 gangs to roam our neighborhoods carrying machine guns!!

    • Jodyp

      Good post, and yes, Sam’s Club is a great place to stock up. The lingering question in my mind is who will be let in the door in bad times. Gonna be rough.

    • Pete

      I sleep well because I have been doing this with similar dry food purchases for over 6 years.
      Foodsaver or mylar bags and oxygen absorbers sealed air and water tight in five gallon foodservice buckets that can be purchased cheaply at Lowes. Learning how to do this is priceless.

  21. H. Craig Bradley


    I predict Tesla will be the first well-known, highly indebted public company to blow-up, a la Enron. Moreover, it could happen at ANY time. Of course, it will be totally unexpected by most investors, a veritable “Black Swan” to the stupid, that is. In this case, you CAN see it coming like a cloud shadow on a lake. In fact, Jim Chanos, the expert shorter, says he currently has a list of ex-Tesla executives that is three pages long, single-spaced. The rats are running as fast possible as Tesla is taking-on water to escape the “Titanic” of electric cars. A collision is coming for sure.

    • Rich M

      I was thinking Tesla as well but What abput Starbucks?

  22. H. Craig Bradley

    Very few Americans (public) or retail investors own any physical precious metals (gold or silver). In fact, most people do not know what to do with it. In fact, you can not even give away a free 10.oz. silver bar to the public, seriously. Most would rather have a free Hershey chocolate bar instead. Too each his own.

    • This sceptred Isle

      Yes, probably a contrarian indicator. Question: when was the most favourable time to buy Bitcoin? Was it…

      A) When everyone was on this site bragging about how they had doubled their money in Bitcoin within a week and when companies only had to change their name to include Bitcoin in order to see their share price multiply within a few days or…
      B) When nobody even knew what Bitcoin was let alone how to obtain it.

      Again, buying an asset because it is popular and widely held is possibly the WORST reason to do so.

      • FC

        That’s correct once you see a bandwagon it’s often too late and give it a wide berth.

  23. andyb

    Greg: great tutorial from Michael. When the “event” arrives, I presume that Bill Holter’s thesis would be true; a credit event would freeze all transportation of goods, banks would close and it would soon become “the Hunger Games”. Please put on a guest who would explain what would happen with outstanding loans, especially if the crisis lasts for some time (as in Venezuela). Obviously, the legal system would slow or cease, foreclosures would not be an issue and the auto repo man would not have gas to pick up vehicles in loan default. The major banks, already technically bankrupt will, most likely, bail in all deposits and raid safe deposit boxes. If and when the reset comes will the criminal banksters come in and grab all assets technically in default, even though through no fault of the borrower?

    • JMiller

      Just for anyone’s information, as it currently stands, banks do not have the authority to do bail-ins or raid safe deposit boxes. It is the FDIC, who would be appointed receiver for the failed bank that would have the authority to do bail-ins, if it is determined by the Federal Reserve, the FDIC and the Secretary of the Treasury that a failed bank is systemically important. The FDIC has stated that they would use the Orderly Liquidation Authority (OLA) to liquidate any systemically important bank. The FDIC would create a bridge bank and transfer all deposits covered by FDIC insurance from the insolvent bank to the bridge bank so that customers can have access to their money. The FDIC will also transfer any good assets and some liabilities to the bridge bank. So insured deposits are excluded from any bail-in. Those that have uninsured deposits in systemically important banks are one ones that need to fear bail-ins.

      As far as safe deposit boxes, what is inside the box legally belongs to the renter of the box, not the bank. When every there is an abandoned safe deposit box the contents go to the state as unclaimed property. Each state has it’s own laws concerning the disposal of unclaimed property.

      • William Stanley

        JMiller: Thanks for the info!
        I noticed a week ago a there was a commenter who seems to be heavily invested in bonds.
        Years ago, we would often hear that as persons retired and aged they should shift greater and greater proportions of their portfolios into bonds.
        I disagree with that strategy. Would you please give us your opinion of the safety of such a strategy given present circumstances.

        • paul ...

          William … As soon as the Fed comes out with 1000 year Treasury bonds the 10 year and 30 year T-bonds may actually start looking good to retired people (who think they will eventually get their principle back)! … as for me … I would rather take my chances burying a gold coin for 1000 years then hold a 1000 yr Treasury Bond!

        • JMiller

          William Stanley,

          Many years ago when interest rates were higher I believed it did make sense to for someone who was nearing retirement age and was heavily invested in stocks to move some of that money into “less riskier” bonds or CDs that were yielding around 6 percent. But as dangerous and uncertain as things are today, for someone nearing retirement and who is still heavily invested in stocks (which I think no one should be), moving some of that money into low yielding bonds makes little sense. Of course I, like many on this site, would recommend owning a good amount of physical precious metals and having some money in cash which I would include T-bills that currently yield almost as much as riskier notes and bonds. Of course over the last 5 years you would have made much more money in stocks and bonds than in cash and precious metals but I think a few years from now that will not be the case.

  24. Andre

    The problem is that Mr. Pento and all others in their analysis apply free market rules to fully controlled markets. They are all controlled and by the same people, because they are all Knights of Malta. I have been hearing for years that USD will be wiped out and I have been asking: against what? The value of something must be measured against value of something else.
    It is always frustrating to me hearing that the people who run the money supply know not what they do. I have a news for you. They do. Better than any of these pundits and economists. Are they telling that people like Rothschilds or Morgans don’t know about money? They are money. They live money and breath money for centuries while the economist are trying to figure out what is happening.
    Sure they make crush the economy to blame Trump – I agree. Either way they goal is to consolidate the economy in the hands of the few.
    Precious Metals were supposed to be beneficiaries long time ago. But now gold equals paper now and this is not going to change until gold will be made illegal to own.

    There is an easy formula out there to how become rich and famous. Just become occultist. Examples? George Soros, Rothschilds, Morgans, Edison, Tesla, all the rockstars, most people in politics high level. Then you are an insider and you have all you need to make money.

    One thing I know, if you believe that “sola scriptura” (scripture alone) and “sola fide” (by faith alone) are the only means of salvation, You will be called fundamentalists and a marked man or woman and you won’t be able to buy nor sell. And this will happen soon. Physical gold and silver in your hand may get you going a little longer if you have neighbors to help you which I doubt this would happen either.

    Here is headline:
    Vatican Calls for Oversight of the World’s Finances

    A quote:
    “For today Rome considers the Fascist regime the nearest to its dogmas and interest”

    Pius XI tells us this in his 1931 encyclical Quadragesimo Anno:
    “Under Fascism, property owners may keep their property titles and deeds, but the use of their property is, as Leo XIII wrote, “common”. Fascism is a form of socialism that retains the forms and trappings of capitalism, but not its substance. Under Fascism, property titles and deeds are intact, but the institution of private property has disappeared. Government regulations and mandates have replaced it. For this distinction between legal ownership and actual use, the fascists owe a debt to the Roman Church-State (emphases added).”

    • paul ...

      Yes Andre … we may have “title” to our homes … but stop paying the mafia their monthly protection money (real estate taxes) … and your home “title” will be taken from you and your property auctioned off!!

      • Andre

        Where do you think the money is going now?
        Look up IMF whistle blower on youtube. She was actually interviewed on Greg’s show a while ago. But recently she became disillusioned with some theories for which I don’t blame her not knowing Bible prophecy.

    • William Stanley

      Andre: What do you make of the Pope’s apparent conflict with both the Knights of Malta and the Freemasons?

      • This Sceptred Isle

        I would say it is a ruse to deceive.

      • Andre

        William Stanley,
        As you stated, the operative word is apparent. There is no conflict. Freemasons and Knights of Malta are vassals to Pope. Both runs by Jesuits. You see, there was a time when Pope banned Jesuits after all the scandals they were involved in. But this was only public display. BTW who really runs the show? White Pope? Nope – the Black Pope – the Superior General. Is it coincidence that in occult you always have the opposite put together as part of one? Black and white, good and evil, male and female and so on. It is just a different way to display yin yang which is a big occult sign.
        The worse is that they indoctrinate populous in this philosophy. It is nonsense. What good has to do with evil or darkness with light? Nothing – they are as far apart as east is from the west.

        • William Stanley

          Andre: In a previous comment, you noted that President John Adams was very skeptical of the Jesuits.
          Moreover, as far as I can determine, neither Adams nor Jefferson, two of the more prominent founders, were Freemasons.
          Do you dispute these assertions? If not, what significance, if any, would you accord these “facts.”

          • Andre

            I am not sure if they were. But take look at Jefferson tomb.

        • This Sceptred Isle

          And why did Trump and Hillary both have to attend that Jesuit dinner prior to the election?

          • Andre

            I guess you don’t say no to such invitation.

  25. Rock

    Thanks Greg. Pento articulates so well for people to understand his points. Great interview.

  26. This sceptred Isle

    We mourn the loss of our transatlantic cousins. 🙁

    • Greg Hunter

      You left us we did not leave you. We made a change for the better. You (UK) still have leaders that bow to Islamic terror pedophiles and imprison (without fair trial) people who speak out against it (Tommy Robinson). You are condescending and pompous with this statement. It is you who are in deep trouble. I guess you and your un free media is too brainwashed to know this


      • This sceptred Isle

        Greg, the prisoner who does not know he is a prisoner is beyond help. If your country ever escaped the clutches (debatable, considering you are the New Atlantis set up by the Freemasons) you fell under the spell again when you surrendered your money to the Federal Reserve (take note Robert Lykens the Fed is a FOREIGN banking system).

        • Greg Hunter

          The fact remains o=US changed leaders and direction the UK did not. It is really that simple.

    • William Stanley

      TSI: Thanks; Happy Independence Day to you, too!
      As you know, we still love you. We were just a little earlier than you in gaining our (still partial?) independence from The Crown. It seems you’ve got a little ways more to go on that one. Given the conspiracy of the Five Eyes with the US Deep State against President Trump and America, I know we in the US also have some more work ahead of us. Please know, however, that I still hold out hope for you in the UK, as well as the entire Commonwealth. Moreover, TSI, I know that you personally wish us well.
      The appended video is a song commemorating the Battle of New Orleans (in 1814, after the signing of the peace treaty). US forces were commanded by Col. (later, President) Andrew Jackson, famous for abolishing the Second Bank of the United States. Perhaps President Trump will prove as wise concerning the Federal Reserve System. Please construe the song’s reference to “the British” as referring to forces loyal to The Crown, and not to the British people.

      • This Sceptred Isle

        Thank you William. You have a generous spirit. It pains me that others have attributed less noble intentions to my happy independence day message.

  27. Diane

    This I like!!!!!!

    • Diane

      #walk away

  28. Steven Rudalcava

    Human greed lust sick pathetic politician s .and that was the good times.

  29. Tad

    “You should always have 5% to 10%, and if you are waiting, you are running out of time to get it cheaply. . . . I don’t think there is much downside to buying physical gold here, and you are running out of time if you have no position at all.”

    And yet, Rob Kirby says his clients can’t get enough gold and silver, primarily gold.

  30. Arthur Barnes

    Greg, Trump is moving forward with his agenda even though 100 protest his immigration policies over in San Francisco, aka, Mexico City North & little Pakistan. M. Waters voters are vastly becoming not relevant, although it does hurt just a little to watch the once great party of John Kennedy turn into nothing more than a socialist American hating obstructionist regime, but that is where they are. The midterms will be interesting indeed, I can here the Make America Great Again wave coming to shore once again, can you?

  31. posterboy

    Fascinating analysis – I accept every point made by Mr. Pento.

  32. Stan

    Pento is just another doomster. None of his predictions have come true. He is probably related to Jerry.

    • Greg Hunter

      Your comment shows your ignorance.

  33. Jerry

    Information for those paying attention.

    As I have been stating the reset is happening inside the banking system.

    • Jerry

      It is being reported by some sources ( Which I cant confirm) that the global currency reset will take place sometime this fall following the arrest of major deep state operatives and criminal bankers who have rigged the global economic system. At first thought it sounds like total B.S. but if you think about it long enough it makes perfect sense. Why would you put a new economic trade system in the hands of criminals? Perhaps the bigger question is what will they do in retaliation as the old system dies and they await their fate. In either case the reset will most likely involve a systamatic shutdown in order to eliminate the control of the criminal bankers and destroy their assets. This is where preparations should come in handy. Let’s pray it all works because if it doesn’t we’re all going to be in a lot of trouble.

  34. Hoosier river rat

    Applying river rat logic , if you don’t have Jesus Christ , your not a survivalist . Get Jesus and then accumulate metals , food, firearms ,etc. that is the prudent thing to do . Then as Greg says “fear not . Amen

  35. Diane

    Greg….this is important
    Martin Luther King’s niece is trying to get an important movie out to stop abortion.
    God Bless her.

  36. flattop

    Been pondering the question concerning our Presidents motto” Make America great again

    When was America great? In the 1940’s. We defeated Japan and Germany in a world war, then immediately began rebuilding their countries for them. No nation in the history of the world has ever done what we did. GOD bless America.

  37. George Mubarek

    What! No Bond Bubble bursting this week? Newsletters getting a little slow? Time for a NEW PREDICTION> And when it Does not happen in October please be sure and give us another interview and tell us WHY you were Wrong as you have been for the last 10 years. Pathetic. They have 7 ways to Sunday to control the Game and you think you can tell me what number the little ball is going to land on? Go back to the sideshow in the Carnival. Send in the Clowns. There already here.

    • Greg Hunter

      Go back to sleep George. By the way, you know there are brands of coffee that are decaffeinated that taste just as good as the ones with caffeine.

    • BJ

      Haha preach!

  38. flattop

    GREG: One more thing.
    People are beginning to believe that illegal immigration is the only immigration there is now.

  39. flattop

    GREG: The environmentalists have won one, forcing Pruitt to resign.
    They have dogged that man from day one. Pres Trump will have a tough time filling that position

  40. Jodyp

    Enjoy Michael Pento but believe he’s wrong about repubs losing the house in November. The Democratic Party is in shambles today. Too many people waking up and walking away. That party is D.O.A.

  41. David

    It is wonderful to have a man like Michael Pento appear on your show. I have learnt much listening to him.
    Like many people, I have ceased looking in newspapers for information to explain what I sense is happening. I now look to sources, like people on your show, who can develop an argument and explain the relationships – such as the yield curve in today’s discussion.

    Thank you Greg and thank you Michael Pento. You are both providing a very valuable service to everyone . Thank you from here in Australia where I live.

  42. Elderlearner

    This is from Feb 2015 – If you say it enough, it will happen. Give me your best guess then move on.

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