Michael Pento: Prepare Now Before the Real Crash Begins
We welcome back a returning guest Michael Pento to Palisade, Michael isPresident and Founder of Pento Portfolio Strategies.
Michael is convinced that we are heading into "The Greater Depression"as the world is awash in 17 trillion dollars in negative-yielding debt. He says, "We are no longer living in reality; this is a fantasy created by massive monetization of debt from central banks."
The middle class is being wiped out, having lost 25 million jobs in five weeks, and we are witnessing a new era of helicopter money and universalbasic income. This is the ideal time and environment for holding gold to protect your purchasing power.
Time Stamp References: 0:40 - The Greater Depression? 6:00 - More stimulus is not enough. 7:55 - Middle class being wiped out. 12:40 - Defining Fed money supply. 16:00 - Gold and its role.
Talking Points From This Episode • The outlook for the world's debt markets. • Impact of this crisis jobs and the middle-class. • Gold's role in protecting capital.
Michael Pento is the President and Founder of Pento Portfolio Strategies with more than 27 years of investment experience. He was the portfolio creator and consultant to Delta/Claymore's commodity portfolios that raised over $3 billion, distributed through Claymore/Guggenheim's sales network. He is the author of the book "The Coming Bond Market Collapse" and has a weekly podcast called "The Mid-Week Reality Check." You can find out more at his website: http://pentoport.com or email: mpento@pentoport.com or Twitter: @michaelpento