Worldwide Depression Coming, Buy Gold – Michael Pento
By Greg Hunter’s USAWatchdog.com
Money manager Michael Pento says it’s not a matter of if the economy tanks, it’s only a matter of when. The next downturn is going to be the worst–ever. Pento explains, “The mainstream financial media and most of Wall Street . . . will say that the increase of interest rates, the great deleveraging process has been consummated, and central banks can raise interest rates and then call it a “beautiful deleveraging,” a beautiful process. That is a lie. . . . There is $240 trillion of global debt. The bond bubble is bursting. . . . Why are emerging markets crumbling now? It’s because the bond bubble is in the process of bursting. As that bubble bursts, look for this chaos to metastasize across the globe.”
Pento, who is also an economist, goes on to say, “I believe this will bring down real estate prices, equity market values and start currency chaos. Unfortunately, a worldwide depression is coming like we have never seen before because we have never before had so much debt sit on top of artificially depressed interest rates. The hubris and arrogance of central banks to take that away, they are way too late in doing so, and they think they can do this with impunity. They are dead wrong. They (central banks) have always caused recessions. We are heading into a global depression. The question is what are central banks going to do about it this time? The Federal Reserve does not have a Federal Funds Rate they can take to zero percent. They don’t have a balance sheet that is $800 billion. They have a balance sheet that is $4.3 trillion. . . . The steps that they are going to take after this depression, the powers that be, the Illuminati are pushing things like negative interest rates, universal basic income and helicopter money to re-inflate asset prices, which will be plunging from record high altitudes.”
Pento says we will have “deflation” first and then “runaway inflation.” Pento says this means gold is the place to be for the foreseeable future. Pento contends, “There is going to be a run on gold like we have never seen before. There is going to be a super-spike in the precious metals. . . . These are unprecedented times coming, and you should take physical possession of your gold. I like gold and I like silver, and I like platinum. I most especially like gold though. . . . This is happening now. The bond bubble is bursting.”
Join Greg Hunter as he goes One-on-One with economist Michael Pento of Pento Portfolio Strategies.
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After the Interview:
There is free information on Michael Pento’s website called PentoPort.com. You can also find a copy of his book there called “The Coming Bond Market Collapse.”
…and speakin’ of drivel, do ya ever post anything useful? No prob here with disagreement, but at least put up a counter argument! You come across as a whining little snot. Time to put up or just shut the hell up.
I don’t personally know Jerry or anyone else here. But being a simple man, I’ve not only learned from the great guests, but most commentors here are the best and most knowledgeable I’ve found on the net. Most seem to be regular,civil, decent, God fearing people. Is anyone always right? Nope!. To me, this is family. And when hijackers come here just to offend, sorry, it pisses me off! I’m here to listen and learn! Sorry, Greg. Rant off.
And its your blog I know, but, with respect, you always want to have the last word on all conversations and cut off subsequent responses. It’s your right but it doesn’t suggest that you really wish to openly debate important issues?
Quit with the crap. Attacking someone’s opinion intelligently and with respect is fair. Make your point or points and just disagree and part as friends.
Stan Put that vodka bottle down this minute kid
More importantly Stan is the fear-mongering used to break the Iran Deal by “Tomahawk Trump” … puppet of the Deep State … the “deal” was broken by Trump not because Iran violated it … but because the Deep State wants to stop Iran from building missiles and stop Iran from supporting proxies that are interfering with Saudi Arabia’s aggression in Yemen and CIA’s aggression in Syria (i.e. ISIS) … the excuse Trump used “to break the deal” was that “Iran was destablising the region and supporting terrorist groups” … exactly what the perpe-traitors of 9/11 (the Saudi’s and CIA) have done and are currently doing in the region!!
The Demon-rats want to break the “bad deal” they got when Trump was elected … and for the last year and a half they have set their goal on removing this “bad deal” they got (by any means possible) … the Demon-rats can’t see anything good about the “deal” they got with Trump … but we … the American people “accepted the bad deal” … because it solved “a nuclear issue” for us … “HILLARY” … and that was “the overriding important issue” we had to accomplish … not Trump’s impulsiveness to launch Tomahawk missiles (without due consideration), or his big talk on locking up Hillary, bringing our troops home, building a wall, creating infrastructure, etc., etc., etc. … with little to no action on these issues!!
OK … so now the deal is broken … because the Iranians may be building missiles instead of nuclear bombs … doesn’t Trump know Iran doesn’t have to build missiles? … they can simply buy them (S400’s) from Russia (or Russia may simply give Iran S500’s for free if they can’t build them) … so how does listening to Bibi help protect Israel from missile attack?? … and who is the real President of the US?? … listening to Bibi is simply going to get us and Israel into a war with Russia … for as Defense Minister Avigdor Lieberman recently said: “Israel could now strike Russian-made S-300 anti-aircraft defense systems if they are used against Israel” … but war “is the objective” of these neocons and sadly it seems American blood must now be spilled to satisfy the evil neocon’s goal of WWIII!!
So Pento is exactly right when he says: “a super spike in precious metals is coming” … we can’t keep financing our growing public spending and now Trump’s new war spending to take on WWIII against Russia, China and Iran with central bank fiat money printing … is Trump now resorting to war to provide economic growth? … and does he expect the unlimited printing of fiat money debt (out of thin air) to offset the explosively growing fiscal and monetary hole he is now getting us into … only crazy banksters and loony tune politicians think that helicopter money will fuel all our budget needs and provide for all our war expenses forever … as Pento and everyone else on this planet knows … our US dollar is being deflated in value … and it will inevitably be followed by a run on gold like no one has ever seen before!!!
The Iran “deal” was a travesty, not because Iran cheated, but because they didn’t need to. It gave them everything they wanted/needed without the world looking over their shoulder. Then when the timeframe expired, a quick uranium enrichment and voila! – they’d have atomic bombs.
Their chants of “Death to America and death to Israel” would have come true.
I know, it is terrifying being threatened by the big bad monster…BOO!!!
Very interesting May 9, 2018 article by Craig Murray on http://www.globalresearch.ca
GREG- I BELIEVE DAVE JANDA TOLD YOU THAT THE IRAN DEAL WAS NOTHING BUT A MONEY LAUNDERING SCHEME. GAY OBAMA AND HIS GLOBALIST FRIEND SET THE WHOLE THING UP TO PAY OFF CORRUPT INSIDERS, BUT NOT OUR GOD SENT PRESIDENT TRUMP.
Perhaps this is all about who will supply Europe’s energy needs. Russia and Syria or America and Israel.
After what George Bush (Sr and Jr) and company did to Iraq and what Hillary Clinton and company did to Lybia and Ghadafi can you blame anyone for not trusting American politicians. Would you? How many people died for no reason? Did we not arm Iraq with its war against Iran? Oh what we won’t do to protect
the Petro Dollar!!! Should be interesting with Russia and China and the Gold Yuan, Katy bar the door!!!
I voted for President Trump and fear he is under the influence of Sheldon Addleson who donated at least a million dollars to his campaign.
The low class liberal left has shown its true colors since President Trumps election. President Trump’s tax cut is a huge step in the right direction. I am sure you know, what is going on in Syria, I understand Israel has dicovered a monster gas field and wants to supply Southern Europe with its gas needs, as does Russia and Syria. Can you say Petro Dollar?
As in keep on…
RE: Your fear that Trump could be bought for a million dollars.
Trump is worth at least a billion dollars. That’s a thousand million. What’s another million to him?
Greg, why do you think Trump didn’t speak to the issue of the “deal” not being signed when he announced the withdrawal of same. Can’t figure that one out, any thoughts on that? a b
Withdrawing from the Iranian deal will likely make Iran a far stronger adversary to Israel … remember when the US unilaterally withdrew from the ABM Treaty (in 2001) … it made the Russians work even more intensively on advanced armaments … which allowed it to make significant breakthroughs in developing new strategic weapons like the RS-28 Sarmat ballistic missile (which has almost unlimited range and ultra-high speed … enabling it to employ various trajectories including strikes coming over the South Pole that can defeat existing American Anti-Ballistic Defense systems) … Russia has also produced and deployed a hypersonic glider weapon system called Avangard … but the real game changer is the Russian ability to negate America’s ability to project power through its Navy … the “already deployed” air-launched Kinzhal anti-ship missile has a range of 2000 kilometers and a hyper-sonic speed that makes it nearly impossible to intercept … this development has made America’s thirteen aircraft carrier groups “obsolete” (if Israel was counting on American help forget it) … Putin has made it clear that Russia now has an overwhelming military advantage over the US … in both cruise and ballistic missile technology … and if Russia can easily penetrate US defenses where does that leave Israel? … on it’s own … fighting the Russian bear and it’s ally Iran!!
Right Greg, so why doesn’t Trump try speaking the truth for once and call it for what it is?
He said the US is withdrawing from the deal. Why didn’t he say,”there is NO deal, nothing was signed.”
Greg … Did Israel “sign a deal” with Syria to occupy the Golan Heights for security reasons? … so I guess Syria can now say the same thing …What Deal”!!! … It WAS NEVER SIGNED BY SYRIA.
This is more then some “unsigned deal” … it is about “regime change” … here we go again … and we thought we solved this problem by electing Trump!! … https://www.zerohedge.com/news/2018-05-10/leaked-doc-reveals-white-house-planning-regime-change-iran
If you gain land through military victory you are not allowed to move populations into it to settle. This is different to holding it for strategic reasons.
It is widely accepted that under international law, the Jewish settlements in the territories occupied by Israel in 1967 are illegal.
Article 49 of the Fourth Geneva Convention relative to the protection of civilian persons in time of war states: “The occupying power shall not deport or transfer parts of its own population into the territories it occupies.”
Jew haters like the BBC??? BBC is pro Israel like the rest of mainstream media. You criticise wiki as a source so when I use the BBC you are still not happy.
ok, back to that again.
Well said. What you say is TRUE>
Stan, you have to be a troll, because no one can be this stupid.
well you certainly seem to be one of his most diligent followers.
🙂 Yes, the best way to manage trolls is simply to ignore them? That makes them really upset!!
A+ Michael Pento teaches . Gold at 5,6,10000. Just means we’re in hard times when bread is at $$$!!!. This metal price talk doesn’t excite me. Just means me and mine might have a better chance to survive…if I could remember where I put it. Sucks gettin’ old.
Good Thinking , started.
My suggestion, compete the thought!
Buy Grains even etfs exist ( WEAT, CORN, SYOB) etc ( or combo JJGTF and DBA ). Just to help a good citizen
I’m binge-watching “Billions”. Bobby Axelrod said in the opening scene in season 1, eps 2, “The gold standard is never coming back. And if it did, this world would be so f*****d, I’d buy space travel, not gold.”
If you wanted to travel in space, you will need gold. I mumbled to Bobbly in the screen as I watched. Perhaps I need to make an appointment with a shrink.
They mention the gold standard in Mr Robot as well and said money hasn’t been real since.
The bottoms feeders like me who have a couple of Silver Coins might be in for good luck one day.
Mr. Hunter: Thanks once again. Mr. Pento was fantastic . . . and sobering.
On a personal note, I wanted to let you know how much I appreciate the effort you put into your comments section and how hard it must be for you to put up with some of us (yes, I’m looking in the mirror).
What a diverse bunch we are here; what different lives we lead. I live in a small city in the western US. I see wildlife, including wild horses, every day. The people I meet often stop to talk. Today, an old lady (about my age) was driving her jeep down the rutted mountain road where I was walking my dog. She stopped to talk about a huge herd of some 300 wild horses that was a couple of miles up the road. Snow-capped mountains marched 50 miles alongside and beyond the valley below. We talked easily and naturally about the sorry state of the world . . . and our guns (we both carry concealed pistols when out and about) and we even compared our folding self-defense knives! Sometimes I forget that some of the people with whom I communicate here have totally different sensibilities.
Mr. Stanley, Years ago we knew people in Eastern Oregon who would round up feral horses … some were trained and sold and some went to slaughter … then with the passage of the Wild Horse Act that activity came to a halt and now we have feral herds of wild horses by the hundreds … and thousands. Having raised draft horses for some thirty years, I know that horses are very hard on ground and left unmanaged they inbreed and become unhealthy and poorly composed. It really is like your yard or the forests for example … left unmanaged it become overgrown; unhealthy and
mismanaged. This is management by watermelons … green on the outside and red on the inside. I would also tell you that I go nowhere off the homestead without a firearm.
Yours in Faith and Liberty, FN, DB.
If the financial apocalypse kicks in, I think $400 per Oz Silver not $40.
I agree. I am in the Mannarino camp of silver being the most undervalued asset in the history of the world. Silver and gold are intentionally surpressed so the banks can buy cheap. They, in my opinion, intend to cash in on that investment, one or another while the rest of the world is further impoverished. In the words of Mannarino, become your own central bank.
Pento said many illuminating things, but one that struck a chord was what I took as an inference that things are never again going to be this cheap in our lifetime. Once the Depression hits, it’s banana republic time and good luck getting the goods and services you are used to. That’s my take.
Thank you Greg for another awesome interview. God bless you and your guests for all you do.
The legal bonds are released by pulling out of Iran’s deal paving the road to the coming war.
Will see the meeting with Kim Jong-Un , if it takes place it neans N.K. is separated from Iran and the war is coming.
Just maybe something positive will come from the N K and Iran situation. I prefer to see the glass as half full.
Nothing good comes out of wars
Mohammad, true, but war is the final arbitrator of disputes. The history of the world is the history of war, straight and simple, Iran will not be satisfied until they have a taste of it & I think the Great Satan as they call us is just about to give them a spoonful to savor upon.
Thank you, Mohammad. Americans haven’t had a war ON THEIR SOIL since the Civil War. That is why they are so insouciant (thank you, Dr. Paul Craig Roberts) about war.
And, we just keep whistling past the graveyard. One day, the proverbial money machine will freeze-up. When? Who knows? But, one day, it will happen. History repeats….except this time we lack the national unity and social fabric necessary to survive. It’ll be uglier than ugly. And that’s as bad as it gets.
Good interview, Greg. Thank you!
David Exactly Americans are at each other’s throats when things are good I can’t imagine what it would be like in a real crisis situation If things get too crazy Im headed to my place in Poland I feel the safest there of anywhere I’ve been on earth And I’ve been around
Iceland is safer.
No wonder the lame stream media no longer interviews Mike Pento. He is seeing the true intent of TPTB to destroy all fiat money by creating a crisis in the emerging markets as the patsies when this crisis spreads globally. The G20 will declare a reset where fiat is phased out as electronic currency is fully phased in. They are planning on the first steps on July 21st:
This fall is certainly looking likely to be the beginning of the tribulation the church will experience:
Greg are you planning on having Doug Casey on as I believe he would confirm a lot of Michael Pento awesome work?
Do you stay up nights thinking about me? All this attention is making me blush. I wish I could say I sit and think about you, but I don’t. I’m to busy trying to survive in this hellish economic environment. I have watched two of my businesses lose over 30% over the last four years. If it wasn’t for the fact that I have paid off all my debt ( as Nomi Prins suggested ) I would have already filed for bankruptcy. That’s not fear mongering. That’s reality.
Consider yourself lucky that you can afford to sit and snipe at me. At least for the moment. But know this. The economic pain I have felt is burning down the wick toward you. It’s just a matter of time before you get to feel the burn to. Good luck.
Here you go Stan. Enjoy.
Jerry and Stan;
My grandfather had a saying, ” If you cant say something goods about someone, say nothing.”
Stan attacked Jerry. Jerry has spent a considerable amount of time researching and reporting on the Gold Yuan.
If you have been following Jerry’s reports you would know the GOLD YUAN has the potential to replace the Petro Dollar and that will shake the world!!!
You are so right. This is why the central banks are printing money hand over fist.
Can you say debasement? Its a vicious cycle. As the currency becomes worth less the central banks have to print even more to prop up the markets. Soon shopping at Wally World will be like shopping at Neman Marcus.
It’s called freedom of speech. If Jesus Christ himself followed that philosophy we wouldn’t have half of the New Testiment. People have to exchange ideas in order to make informed choices. In this case, Stan prefers the brainwashed globalist view that all is well, while Rome burns.
I’m 7 hours ahead of you Jerry and when I opened the comment section this morning the first thing I saw was a single comment from your nemesis Stanley It was very shocking I tell ya
Jerry: This is the greatest economy in 85 years. If your two businesses are losing money then you are a pathetic businessman. Oh, and I keep most of my savings in US Dollars – I can sleep at night.
Are you aware of America’s 20 trillion dollar debt?
Stan, wake up, the day is soon coming you can use your dollars for toilet paper! The dollar has lost more than 95 percent of its value since 1913. You should thank Jerry for his effort to keep Watchdogs up to date on the plight of the Petro Dollar and Gold Yuan.
I think you just mean petro yuan as there is no such thing as the gold yuan.
Stan: Some people can’t see a bear in those woods; and if there is, it’s a friendly bear. If there is a bear.
So you say Stan.
I guess Greg should be interviewing you since you seem to be the resident expert here. For the record I have owned several businesses for over thirty eight years. Anytime you want to compare balance sheets let me know. My guess is you are either a paid government troll, or a welfare parasite. Same difference.
A friend of mine has finally close up shop in the Diamond District in NYC. He said traffic has been on steady decline for the past 10 years, folks are not just buying jewelry any more. Most of the real buyers are tourists from China but he could only get the stragglers from Tiffany.
Not all traders in Wall St are doing well either. Bank of NY Mellon just fired the entire staff in the Fix-Income recently. Nobody saw that coming even though its performance wasn’t ideal.
Builders are doing very well in NYC. High rise condos are being built all over the place and folks (foreigners ??) are buying up properties and doing expensive renovations. A friend who lives in a middle class neighborhood in Brooklyn told me a beat-up and dilapidated residential (probably probate) with a hole on the roof, large enough to be visible from the street, was sold for close to a million dollar and is being renovated now. Another friend was paid more than a million dollar for air rights over his two stories commercial property in Long Island City, Queen.
Restaurants are doing okay if the owners held a long lease or actually own the building. Many have to close shops due to rent hikes and competitions.
I don’t think this is sustainable unless massive inflation is coming our way. Btw, what kind of businesses are you in?
Looks like there is no way out! Time to stop worrying and enjoy what time we have.
Tommy: Here’s a joke.
A cop pulls over a lady for going 5 mph over the speed limit.
The cop asks for her license and she hands him her driver’s and concealed carry licenses.
He then asks what weapons she is carrying and where they are.
She responds, well I’ve got my Glock on my right hip;
My Smith & Wesson is in the appendix carry position;
and my hunting knife is in my boot.
The Cop smirks and says: Lady, what are you worried about?
She responds: Not an F’ing thing.
I’m worry and enjoying whatever time we have left. That’s why you don’t go all-in.
Anyway, the coins I got lately are getting older and older. I have never seen a pre 2000 AEG until last year and I got a MCMLXXXVII in the last purchase this year.
Pento is truly one of THE Great Men Of The Galaxy!!
Tells it like it is……there should be more Michael Pento’s around the internet.
Always a frosty beer for him here at my place, that’s for sure.
That said, The Great Man did make one mistake toward the end of his excellent interview with Mr Hunter…..that was to say, “Can you show me one fiat currency that hasn’t failed….why should this time be any different….it’s not”.
Sadly, for this planet…..it IS DIFFERENT. VERY DIFFERENT.
This time, we are talking about the currency of a nation that holds world reserve status, and that nation has NO PROBLEM with lying, cheating, defrauding,and killing untold MILLIONS in order to save itself from it’s karma, NO PROBLEM WITH THAT AT ALL…..all so that pretty red, white and blue flag can hang over the planet as MASTER OF EVERY SINGLE COUNTRY (Remember…..they is “the exceptional nation”)
Make no mistake……the US Dollar WILL NEVER FAIL, except under one condition that I can see that might save the world from the clutches ofThe Killing Nation:
Perhaps it’s time that China and Russia stumped up with some real HUMAN COURAGE and said to The Killing Nation. “Listen…..enough is enough…..and we have had enough. Stop the lies, stop the financial fraud, stop saying you are for freedom when actually are against freedom, stop the killing across the planet, stop the false flags…..and we will let you off gently. You have seven days to comply, because WE WILL be nuking (insert US city here) if we do not here back from you within six days from now, and have your solemn agreement and promisethat you stop raping this planet for your own ends”.
From there, China and Russia should have NO HESITATION to carry out that threat if the Killing Nation decides it won’t comply…..and let the Nuclear Chips fall wherever they may across the planet from there on in.
Better to have that confrontation and lose everything that currently stands on the filth of lies and deceit than to be kept under the yolk The Killing Nation, it’s CIA, it’s Global Military, it’s Wall St Banksters…….and…..most of all……The Killing Nation’s own SELF DELUSION that it stands for Freedom & Liberty…..for it does not….it stands for Subjugation and Eternal Bondage to all that it’s Founding Fathers LOATHED, and that is an UNDENIABLE FACT.
Mr. Hunter won’t be happy with this post no doubt……it will be lucky to see publication among other replies here methinks.
The Good Man Hunter will no doubt retort as per usual “Oh…..you could be under Chinese or Russian rule instead of ours”…….fine, China and Russia were around A LOT LONGER than The Killing Nation, and they NEVER screwed this planet the way that The Killing Nation has and must answer for.
Hope Mr. Hunter and his flock of good people survive the oncoming KARMA WAVE that is about to hit your nation……The Killing Nation deserves everything that is coming.
Karma is like a mirror.
Canberra, Australia (Lap Dog Nation to The Killing Nation)
RE: “The killing nation”
IMO, thinking in terms of “nations” is a bit of a conceptual trap. Was it “Russia” who killed those tens of millions within its own borders; or was it a faction therein? Same with China.
As for international wars of aggression, did the people of the USA start World Wars I and II? Just maybe it was some factions of people vying for world domination. Like Stalin and his crew (not Russia), or Hitler and his crew (not Germany), or the Emperor of Japan and his crew, or Roosevelt and his crew. And, just maybe the House of Windsor — who, as far as I can discern, is not even of Anglo/Saxon roots — (and not the people of the Commonwealth or even the UK) had a major hand in all of it. Why are the fingerprints of the House of Windsor (and there ilk) so often to be found at international crime scenes? Why don’t the nations of the Commonwealth put an end to that abomination (and the whole concept of monarchy, including the House of “Lords”?
William, the greatest achievement of the House of Windsor was to convince everyone that they don’t have any power.
You are very close to finding the Root of all EVIL.
It’s a pleasure to read your comments.
Does not the Bible state someone will always sit on the throne of David.
Perhaps David’s throne sits in England.
Very well said sir…..I take your points entirely, for they are the hallmark of an intelligent mind.
That said, I still place “The Crew” of the United States as the epicentre of most of the abhorrent things we are seeing in our world.
Hopefully, if there is such a thing as reincarnation, all of “The Crew” will be reborn into a subjugated US puppet nation in 50 years or so……just so they can eat of the fruit they planted in their former lives.
Then they may see things from the opposite side.
Best wishes with you William.
Ray, Canberra, Australia
Greg: you could have Mr. Pento on every week and I would happily listen. Nomi Prins then Michael Pento, it doesn’t get any better than that. Unless of course you’re able to cobble together a nice round table discussion with you and the Holter – Sinclair collaboration…….. (wink, wink)
Well done, much thanks!
And the Gold pumpers are back, Greg, maybe someone with a track record of predicting whats gonna come, that would be different?????? Wash, Rinse, Repeat. They (TPTB) will not let this collapse, so the doom and gloomers will be proven wrong until something major happens, could be another 10 yrs.
You should ease up on poor James as he is suffering from a bad case of normalcy bias
How many years have your guest been saying GOLD GONNA SKYROCKET, we have heard this for years. Even a broke clock is right twice a day, but not the Gold Pumpers, aint gonna happen.
Wash, rinse, repeat…….and then default.
Jerry Nicely said.
A decade of the same music gets kinda tiring I know.
BUT they aren’t in control.
In fact that are like cornered rats. Every year it becomes exponential,
that is until the NEW monetary system is ready to roll.
Cashless, Crypto $ Blockchain.
You want evidence of this just look at Goldman Sachs , see what they’re doing with programmers and engineers. They are covertly creating the new platforms for Banking while the rest of the world is still asleep.
Now, if they can keep suppressing the PM prices until then, then PM’s wont have a need to go to the moon in $$$ terms.
I don’t believe they have another 10 years early 2020’s at the latest.
The charts and technical analysis of metals say otherwise. We are in a 40year cup and handle pattern with a huge breakout eminent. I still believe in technical analysis EVEN with manipulation. The charts tell the story. DESPITE manipulation it’s going up and now. Not 2 years from now. I respectfully disagree with Pento on gold and silver being equal. Tech analysis shows price target of silver at $85 and gold at about $3100. I’m an amateur analyst, so grain of salt. That gives silver close to 500% gain and gold less than 100% gain. A good trader looks at tech analysis and fundamentals also, so Pento might be right. I just feel silvers monetary history is as strong as gold’s and a hit to its industrial use in a slowdown will be minimal. But silvers outperformance when economy gets going might be good. In bull market, all news results in gains. In bear market all news results in losses. And metals in bull market now. Silvers industrial side won’t matter. Until it does, (to upside) get what I’m saying?
I meant gold will have less than 200% gain
Charting and TA are useless in this environment. Ever since the FED became the market with its ZIRP and QE programs. There is ZERO price discovery and even less capacity to act on cycles. EVERYTHING is distorted. That wont change until there is debt destruction and abolishment of Central Banks. Got it !!!
You shouldn’t knock something that you don’t fully understand. I would never call Albert Einstein a time traveling pumper because I don’t fully comprehend quantum physics.
Thanks Mr Hunter and Mr Pento.
Michael’s comments are logical, fact driven and insightful, yet there’s still one country that is not in the kind of financial trouble Michael is warning about. Russia. Russia has practiced sound money policies and their central bank has refused to play the game of borrowing money for near term gain at the expense of longer term risk. As a result, interest rates in Russia are quite a bit higher and the central bank actually has room to lower rates dramatically if need be.
Michael mentioned that America would need $6,000 gold to back the US dollar (if the gold they say they have is indeed there). Russia needs only $2,300 US dollar gold to do the same thing.
Russia is in a class by itself and is being ignored by analysts, perhaps out of fear of being labeled a Putin supporter.
“Lethality Through The Roof”
These new goggles replace night vision and let US soldiers see through dense vegetation and smoke, and even target the enemy through walls.
Especially useful for those who shout “Death to America!”
Robert: Of course, these goggles also provide night vision. Remember, “He who owns the night, owns the fight.”
Who owns and controls the Hacking Software, Wins the War. 😉
GREG- POWERFUL INTERVIEW- I’VE BEEN PREACHING THIS FOR YEARS. BOUGHT MY SILVER AND GOLD ALREADY @ MUCH LOWER PRICES THAN EVEN TODAY
Dear Greg. I believe Pento is right on! Everything is coming together, and don’t discount the other leg of the “Perfect Storm”, for crops around the world are being affected by the approaching global cooling, and with the economic fiasco closing in, along with the rise in food prices because of diminishing food supply, it’s going amplify the coming catastrophe to a horrific proportions. Keep bringing us folks of Pento’s caliber. Fiddlin Ferch
THE THIRD BANANA (REPUBLIC)
Naaaah Don’t Think So !
I owned the Gold ETF (GLD) for the past four years. During this time period, gold floated up and then came back down a number of times. Same pattern with the Gold Miners Stocks ETF, GDX, and with the Vanguard Precious Metals and Mining Fund, which I keep in my IRA. I don’ trade the Vanguard PM but just keep it for ballast ( a hedge for the unexpected). Helps me track the ebb and flow of gold and silver trends.
Realistically, gold never holds-up for very long, so you really need to trade the volatility inorder to make much (any) money with precious metals in recent years. To me, its not worth the hassle until we get a drastically different global financial environment. Right now, the U.S. still has 2% inflation (officially). The only countries today with serious inflation are Venezuela and Argentina. These are the Two Banana Republics that keep acting-up.
Anyone living in these two prospective collapsing states does need to convert their wealth into physical gold because their currency, like Zimbabwe and South Africa, is destined to become “toast”. The U.S. dollar remains a long ways from such devastation. However, the way Congress keeps spending money, I am confident our turn will come in due time.
However, we will eventually become the Third Banana (Republic) at some future point. Perhaps gold will again shine around the year 2024 A.D. Until then, I would not be in a hurry to buy precious metals and you should wait until the price comes down a bit ( At or below $1,000/ ounce for gold)
Admittedly, I was a bit late to the party. However, was not able to participate back at the low in 2002. Now its pretty expensive, so I won’t add to my position of physical gold at this time. I did buy a little bit ( a few coins ) back in 2015, (the last low). I am betting we will see a lower low in gold before it goes back up again.
Most likely, the next recession will initially depress all assets at once, as happened recently. When gold goes below $1,000 an ounce, I will then add to my position by letting the market come to me. Too late to chase gold up now. Its not worth it at this time, as the Bull Market in stocks has a long ways to go, as yet. Rule number one: Never overpay for any asset or investment. It really hurts your return.
H. Craig Bradley,
When gold goes below $1,000 an ounce, you may not be able to get them. If you can still get them at that price, you probably wouldn’t need them because that would be the manifestation that the Titanic is truly unsinkable. Btw, as long as you look at gold as an investment, you are already on the wrong track.
Would you not buy life insurance at 70 y/o (if you had a young wife like Frederick) just because it’s too expensive?
I remember that. Everybody was out of stock. I think gold dropped below $800 or $900 briefly. I think it was $800 and I managed to pick up a few AGEs at around $900, definitely for less than $1,000.
EVERY GOLD BUG’S BOGIE MAN
I think you know the “suppressed” stuff is pretty much just conventional wisdom and as often is the case, probably NOT true. Why don’t you invite Economist Martin A. Armstrong on your show again and pose the question of gold price manipulation to him directly and see what his response is?
My guess from reading his blogs every day is Martin does not think much of gold bug marketing theories and regards the market suppression story-line as so much Make-Believe or Pretend Market Analysis.
However, he may not want to get into it, as happened the last time you had him on your show. I recall you trying to lead him to commenting on the subject of market manipulation and he pretty much steered clear of discussing it. You did not press him the last time. Go review your video if you don’t remember clearly how you approached the subject of market manipulation and Martin’s artful dodge to the question when pressed.
I just believe Martin Armstrong does not want to argue once again the no-win debate concerning the widely held myth and belief of price manipulation, however FALSE, that the price of gold is suppressed for any EXTENDED period of time. That is just bunk. There is little current demand for gold at THESE high prices, that’s all. Need a bogie man ? If so, “The Illuminate” will do just fine.
Tell Martin Armstrong what you told me and see if you can get him to laugh. Ha, Ha, Ha. You have told yourself so often that gold markets are Fixed that you can not even see straight. You confuse opinion with fact. If you can’t see the difference, then you are blind. Please don’t mislead people. Let them figure it out themselves. Thats the American Way: Independent thought. Free Markets, Free Thought. Leave it alone.
Martin Armstrong is like the villain billionaire in the SHO series “Billions”,
a typical “one-percenter”, funds, stocks, all paper and criticizing gold. This hits right at home in episode 2, with his original dismissal of a gold play during a call with a broker. Axelrod says, “No Pete, the gold standard is never coming back, and if it did, this world would be so f–ked I’d buy space travel and not gold”, and then slams down the phone. Fast forward to the season finale, for those that paid close attention, Axelrod fundamentally contradicts this original statement. At this point things have gotten so heated with the Feds that he and his wife are arranging to leave the country. The scene is set in their home basement, inside their own private vault. Axelrod has been packing up their valued assets to take with them. Particularly, cash and gold. The show actually makes a point of a one second close up of multiple 10 bar sheets of Royal Canadian Mint 1 oz Gold Bars.
Armstrong will never risk irking the Feds again. The last time he did that, they made him sell all of his gold stash.
You confuse the difference of opinion as substantiation of fact. Just because one, or a bunch of people opine something: it doesn’t make it fact. Verifying the SOURCE of those who opine is vital. Martin Armstrong is on the edge of compromise being he was jailed for being right; and released to spout what’s wrong. Armstrong is a Cherry-pick. There is tons of evidence the precious metals markets are rigged and viciously manipulated. You just lost all credibility in this comment.
Are you living on Mars?
Instead of being in the Denial stage you should have progressed to the Acceptance phase by now. What have you missed over the cold winter of 2011-18 ?
Greg, I bought gold 10 years ago @ 1200.oo Canadian per oz.
I can sell it tomorrow for 1672.00 Canadian. I would say that it has protected my purchasing power quite well. Sure I have some US Dollars, which are up against the Cando but the gold is OUTSIDE the banking system.
When, Nomi, Pento, think a currency crisis is coming I would listen to them, as I have seen my currencie devalue 25%, it ain’t pretty.
Short term I am long the US Dollar, and will use those funds to buy more gold and silver
H. Craig Bradley,
PMs are not good hedges in Venezuela and Argentina until core nations, mainly the U.S., acknowledge gold as what it should be. Venezuelans and Argentinians are better off stockpiling dollar (ironically), wines, cigarette lighters and toilet papers for bartering.
However, those who live in core countries should stockpile PMs, wines, cigarette lighters and toilet papers.
Can you protect anything after a government collapses, as its been doing in Venezuela for awhile now ? Can you eat gold? How about wipe your ass with it ? When you are struggling to survive, gold is far down on the list of needs when most of the population in Venezuela is literally starving and the average resident has lost 15 pounds. Many will fall ill and die. Many others are fleeing for their lives.
Venezuela is no more. It should serve as an example of what not to do, similar to Sodom and Gomorrah were in Old Testament Days.
You are correct. Vanezuelans need gold too but they can’t eat gold. Today, they need the dollar to buy food since most Venezuelans are still ignorant about the true value of PMs.
Global citizens have to prepare not only for the dollar reset but they have to prepare for their own currency collapse. Until the dollar crashes, gold is just a relic. What I’m saying is that Americans prepers need about 2-6 months of cash for the reset. Folks in non-core nations like Venuezuela would need whatever (probably another 2-10 years) amount of cash necessary (in dollar which most Venezuelans still recognize its worth) to survive until the dollar reset.
Gold is too valuable to be traded for food. I’d probably eat cockroach first before I’d trade my gold for food. Gold is for big purchases like a house or a car, not food. Actually, I wouldn’t want to trade my gold until the reset is complete.
I wouldn’t even want to trade my silver for a meal. An ounce of silver is for midium size purchase like a full cart of steaks.
The problem with PMs in Venezuela is that most folks only understand the value of dollar, they don’t understand the value of gold. They would likely prefer to exchange their food for $10 U.S. Dollar rather than an ounce of gold.
Preppers in Venezuela need to stockpile both the dollar and the gold. We here in America are lucky, we only need to stockpile gold and a little bit of cash.
What an absoulte croc.
If one were a citizen of either of those countries and had their wealth/savings in Gold, then they would have preserved their purchasing power. FACT.
Inflation is debasement. Its that simple.
I noticed you failed History.
Yeah, I failed History but I aced Current Affairs.
Btw, I’m a goldbug since 2008.
Greg: the most interesting portion of Pento’s comments were the ones on the current state of the US stock market. As we know from Shadowstats and the Chapwood Index, inflation have averaged 7-10% (and that’s compounded!!!) just over the last 5 years. That’s a doubling or a 100% inflation increase. Thus the DOW should be at 30,000+.
If oil comes anywhere near $100, then that’s all she wrote, folks. The current stagflation we are experiencing will soon devolve into a full blown Greatest Depression. Let the Zombie Apocalypse and the Hunger Games begin.
Greg: time to bring back Dane Wigington. HARP and chemical geoengineering both have an agenda of destroying the food supply, and chemtrails of barium and aluminum particles will provide the neurotoxins to the brains, thus a growing population of mentally incapable adult citizens. As for the children, vaccines will accomplish the final act of the incremental genocide. Isn’t it interesting that the 5000% increase in autism related issues has occurred since the childhood vaccine regimen came about?
Pento has been singing the same doom & gloom song for 10+ years. He has been dead wrong and will continue to be.
I agree with Stan,
A broken clock is accurate twice daily….!
So why should anyone believe the powers that be can not do some new trick? Something no one could expected. Stan make a good point.
A clock is not broken if it were in a movie set where night and day are arbitrary. However, you are correct in a sense that a warning sign should have been posted on the clock to remind folks that it’s a prop in Truman Show.
Believe me, I’d taken the clock apart a few times and put it back together to make sure it’s not broken.
The clock is not broken, the set is. However, if everybody believe the set is real, then the clock is broken even though it’s not.
Greg’s right. Pento makes a living on these markets. What he said is true in most respects. Don’t forget he has the capacity to front run most trades, knowing what he knows regardless of the instability of the financial system, like threading cotton through the eye of a needle. You can make money in an up market as much as you can in a down market.
He’s an intelligent man. You think he hasn’t positioned himself accordingly?
Yes he positioned himself correctly for sure and he is putting you and others on the other side of the trade.
I’ve already made that observation in my comment. Obvious ?
So far, so good, Catherine Austin-Fitts has been correct with her forecast. I will say this, one smart bomb is the equivalent of a tonne of gold. Anyone who has been silly enough to challenge the USD, has been done away with, pure coincidence of course. Putin is false opposition, and America has the ability to get her way.
America has supercomputers, in turn the elite have the ability to accurately predict inflation. Well it’s possible to hyper inflate in aging countries, as the old people aren’t going to go out and purchase a pound of organic grass fed beef. When deaths exceeds births, it’s possible to print money with minimal consequences.
1) so far I have been correct with my prediction that I will never die. I have been correct for a number of decades now…
2) “Putin is false opposition”. What will America do when it comes up against real opposition?
3) Supercomputers require rare earth metals which China controls.
4) “When deaths exceeds births, it’s possible to print money with minimal consequences.”
Irrelevant to the case of the US dollar when you consider that it is the world’s reserve currency and that a huge proportion of it is held outside the United States.
TSI When deaths exceeds births, it’s possible to print money with minimal consequences.” Can you expound please.
I was quoting Mr Blah from above.
Slim Thug Defends Big-K!
“Slavery Is A Choice” FULL Interview on TMZ Live
Debt that cannot be repaid, will not be repaid. I’m sympathetic to the view that it’s Trumps intention to crash the dollar, which will effectively put the FED out of business–Trump’s successes have been the result of cutting off sources of funding. No surprise that Michael makes no mention of cryptos. I would like to hear someone discuss how we might be transitioning to crypto currency. The fact that George Soros and the Rothschilds have publicly stated their intention to enter the crypto market, signals that cryptos are going to be in the picture in some way.
I agree. It would be nice if Greg would interview someone about bitcoin.
Catherine Austin Fitts was the only guest a few years ago who stated the market will continue to go up and she was right.
GREG: A question.
There are those who speak of the Yuan taking the place of the Dollar as world currency.
Might it be possible for there to be 2 world currencies operating side by side?
Do we even need a world reserve currency? Discuss.
TSI: You’ve raised a profound question the answer to which depends on our need to be serfs.
Perhaps the solution is a Currency used in International Trade settlement, with exiting national fiat currencies used for Domestic purposes only. There are only two currencies capable of fitting that shoe. OIL and GOLD. Guess what ? China has already nailed it. Now the rest of the world has to get on board kicking and screaming if they must.
Flattop: Sorry to jump in here, since you wanted your answer from Greg.
Many currencies already act as “world currencies,” including the yuan, the U.S. dollar, the euro, the yen and British pound in that all of them are included in the IMF’s special drawing rights (SDR) basket, which determines currencies that countries can receive as part of IMF loans.
Any currency that is widely accepted in international trade could be considered a “world currency,” I suppose.
Jay Z Last Warning To Kanye West “I Will End Ya Rap Career If You Mention Yvie Ever Again
Greg, this is Gina Macaroni’s worst nightmare!
Watch your back Big-K, Gina don’t love… .
WHO are the “Illuminati” ?? ( Who is the “Mafia” ?) To me, these are both abstractions or “concepts”, unless and until some specific names or persons are referred to. Fragile Dollar, Fragile U.S. Banks? Fragile economy? Not quite yet.
As far as rigging the gold market (conspiracy), well maybe there is some manipulation in the short term. Today, retail investors are SELLING their gold coins, not buying more of them. Nobody wants gold right now. So, the price is not going-up from here. In reality, rigged markets are usually fixed to keep the price artificially high, not lower it. Generally, investors make their money when an asset goes up or stays up, usually not if it declines.
“Generally, investors make their money when an asset goes up or stays up, usually not if it declines.”
Only if they sell the asset in question and realise the gains.
“Nobody wants gold right now.”
Best time to buy it then. As Jim Rogers would say “Didn’t your mother ever teach you to buy low and sell high?”
You don’t understand the mechanics of how the Gold price is FIXED.
I caught that piece “Illuminati” being spewed from Mr. Pento’s mouth too.
It’s only an abstract because you cant see evidence of it.
The whole concept of these Machiavellian people is to operate in secrecy as a collective. To the masses it has obviously worked perfectly.
RE: “Nobody wants gold right now. So, the price is not going-up from here.”
Even assuming your hyperbolic predicate (“Nobody wants gold right now.”), what happens if tomorrow some people start to want (more) gold? I sense a non sequitur.
I concur retail investors are selling their gold coins, not buying more of them. I’m getting older and older coins from recent purchases. Folks who’d held on for more than 20 years are selling. I haven’t seen much 2009-2015.
Who are holding on to those 2008-2015 in the past two years?
Perhaps folks who bought PMs in 2009-2016 had already capitulated and sold theirs in 2016-2017 and the ones who bought 20-30 years ago probably passed and their children are selling the useless rocks?
Those 2009-2016 are likely in strong hands but are they still being held in the U.S.?
Great interview as always Greg. Michael Pento always speaks to our financial situation so succinctly using facts, it’s hard to argue.
Have you considered that UBI will be used to keep the GDP ( Generally Dumb Public ) at bay so they do not lynch the nearest politician & banker they can find after losing their job?
“There is no difficulty that enough love will not conquer: no disease that love will not heal: no door that enough love will not open…It makes no difference how deep set the trouble: how hopeless the outlook: how muddled the tangle: how great the mistake. A sufficient realization of love will dissolve it all. If only you could love enough you would be the happiest and most powerful being in the world…”
“If you could only love enough, you could be the most powerful person in the world.”
― Emmet Fox
Gina is a conglamerant, a conglameration cant love.
But You and I Can love / Love Is Indispensable!
1 If I speak in the tongues of men or of angels, but do not have love, I am only a resounding gong or a clanging cymbal. 2 If I have the gift of prophecy and can fathom all mysteries and all knowledge, and if I have a faith that can move mountains, but do not have love, I am nothing. 3 If I give all I possess to the poor and give over my body to hardship that I may boast, but do not have love, I gain nothing. 4 Love is patient, love is kind. It does not envy, it does not boast, it is not proud. 5 It does not dishonor others, it is not self-seeking, it is not easily angered, it keeps no record of wrongs. 6 Love does not delight in evil but rejoices with the truth. 7 It always protects, always trusts, always hopes, always perseveres. 8 Love never fails. But where there are prophecies, they will cease; where there are tongues, they will be stilled; where there is knowledge, it will pass away. 9 For we know in part and we prophesy in part, 10 but when completeness comes, what is in part disappears. 11 When I was a child, I talked like a child, I thought like a child, I reasoned like a child. When I became a man, I put the ways of childhood behind me. 12 For now we see only a reflection as in a mirror; then we shall see face to face. Now I know in part; then I shall know fully, even as I am fully known. 13 And now these three remain: faith, hope and love. But the greatest of these is love.
1 Corinthians 13 NIV
It is probably just me; however, I recall back in the early 2000’s timeline that Michael Pento and at least another dozen other economists, investors, and other market experts in their respective fields were on all the investment programs on television. They were considered the “golden men and women” of the investment world. Suddenly, they disappeared, and are no longer on any Main Stream Media. What happened? They told the truth. If I understand correctly, Michael Pento ratings were at an all-time high for viewership, and he was blacklisted from coming back. That’s only my humble opinion. Thanks, Mr. Pento and Mr. Hunter
Blacks May Kill Blacks But When Whites Face Off
WATCH OUT! INCOMING DUKE IT OUT NUKUM?
Greg, I don’t think so. There not saying the F-22 is not capable just in close quarter dog-fights. It’s superiority is in it’s stealthieness. It tries to get the job done before anybody realizes it’s already over.
Mr. Hunter: Yes, but not necessarily wrong in the
“within-visual-range” assumption posited.
BTW: The F-35 is much more vulnerable in air-to-air combat within visual range than is the F-22.
Fortunately, when F-35s are teamed with F-22s they can work synergistically to overcome most threats even within visual range of the F-22s.
Shawn this is true. It did happen under Obama transition still in place. Yet Under Trump we have fixed that problem. Russia stepped down for a reason in Seria. Russia said they would retaliate……Still waiting. Now NK is willing to get along with the USA. I suspect Iran will come to common sense and go along to get along. Even while they burn our flag in their streets. USA MIC is no match for any country in the world. No pride. Just a fact
Nix’s the last link above it’s a repeat, here it tis. . .
EXTRA The Last Call
Greg, Iran is yelling “Death to America” again, such a gentile peace seeking culture (ironically speaking); no wonder they should never have nuclear weapons, Trump!
I don’t see gold going below $1045. I do see it going above $1980. Silver will see $100.00.
I see oil going way up to the $150 and beyond. I don’t see peace in the middle east. I do see a potential war, involving Israel, U. S, Saudi, against several nations. In that event just double those numbers.
I may be wrong? Or right?
When there are so many bad things happening simultaneously, in different parts of a world, A world that is thirsty, hungry, abused, cheated and sick, then
All of the above is more likely than not! Now what about that little debt of 240 trillion + DERIVITIVE exposure? 1.4 quadrillion..
And so it begins,
Apparently behind closed doors China has agreed to pay Nigeria for petrolium with gold backed yuan. Say what you want to but more than one country in Africa has felt the pain of fiat currency once it becomes worthless. Can others be far behind?
Petroyuan no big deal. Think again,
Serious question. Have you factored in that in the modern economic world the dollar operates as defacto gold. I will continue to state, respectfully to your work and efforts, that the dollar is not going anywhere for quite awhile yet.
1) I have read that Chinese debt to GDP is worse Thant the US, is that accurate?
2) To become favored currency or global peg, a nation would have to print and export large amounts of currency, the Chinese are a long ways away from that.
3) The dollar is still the preferred currency almost anywhere I have traveled if you are talking to the average global citizen on the street.
I believe people make the mistake of thinking apples to apples when looking at US debt and comparing the dollar to other currencies. As I stated above, IMO the dollar is for most practical purposes modern day gold, and will be for the foreseeable future
Thanks for the information. I am by no means an expert on the subject, but I do feel based on how the global economy functions the dollar has to be viewed differently from other currencies and it isn’t quite as simple as saying “fiat is fiat”
I started losing faith in my government in large part due to the reckless spending, but I don’t feel that we can view the dollar as if Is the currency of Zimbabwe or Argentina. It doesn’t surprise me wealthy power individuals you reference are hedging.
My wife and I are debt free other than mortgage (owe 132k home worth 180)
I feel the best advice you give in this site is encouraging people to get out of debt
Gold backed yuan? You still do not get it Jerry. There is no such thing today as a gold backed yuan.
The Illuminati are Naughty
To be honest, I’m not sure how gold and silver will go up in the next crisis. They must keep it down to hide the decline of the dollar but not too many people in the U.S. have PM’s. I’m not sure it’s worth their efforts. And by keeping them low it’s giving people like myself an opportunity to accumulate some and to keep adding a bit to my stack.
While at the same time China has been telling their people all along to stack coins or jewelry. Maybe China leaders want its citizens to thrive and the U.S. leaders want us to suffer.
At the same time, it seems that some banks in the U.S. are accumulating PM’s. I’m not sure what to think at this point. No one I know is stacking at all or even worried. I look forward to someone here surer than I to opine. Is there anyone selling their stack?
I wouldn’t even if I could find it!
Already the missile exchange is commencing between Syria and Israel.
this can turn regional in a blink of an eye and if it does you expect 10$ at least the gallon of gasoline at the pump.
Greg, Personally I choose to not respond (or read) to the Trolls … be it Gina Macaroni; Stan; or the Turkish Troll. Why encourage them? … My dance card was full before I got here! Yours,, DB.
DB, on my end, I understand, I have, I’m done. The thrill is gone.
So I’m a “ troll “ now am I Just because I don’t agree with you Typical moronic comment Mr Cooper
I started writing a longer post but it turned out way too offensive. I’ll just write down some key words and you can do what you will with them.
True Christian values, neo feudalism, starvation, serfdom, elitism, sociopathic, wreckless, ignorant.
But hey, every man for himself…
Greg can you please try and get Jim Sinclair on?
I could swear I saw Michael Pento today working at White Castle in Jersey City. He was flipping burgers while checking stock quotes on his smart phone. I think he lost a ton of money when he went leveraged long on Gold at $1874 – now he is slaving away paying off all that margin debt.
Waiting for Jerry to post his typical fear-mongering drivel.