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Michael Pento continues:


“If that occurs, I think gold approaches its nominal high of $1,920 an ounce, and it inexorably rises close to $2,300 an ounce by early 2013.  I do not measure the value of the US dollar against another flawed fiat currency like the euro.  The ECB has already announced a ‘sterilized version’ of unlimited purchases of sovereign debt. 


Now as I went into my (latest) piece on King World News, these purchases will not be completely sterilized....


Continue reading the Michael Pento interview below...




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“The monetary base will grow in the eurozone, and you are going to see a condition of stagflation metastasize across the entire EU17 zone.


And the same thing for the United States.  We are going to see inflation, if they continue down this path, like we have never seen before.  Remember this, we have never had a central bank, under Ben Bernanke, that actually dared to threaten to conduct open-ended, never-ending quantitative easing.


Let me explain what that means.  That means that the Federal Reserve will print X billion dollars per month, until some economic goal is reached.  Specifically, what Bernanke has in mind is he’s going to continue to attack the currency and the middle class, until the unemployment rate drops from 8.1%, to somewhere in the 6% range.


The only problem is the only way we are going to get there, and we may very well get to a 6% unemployment rate, but the only way we are going to get there with these clowns, is if the majority of people looking for work drop out of the workforce.


Now Eric, if everyone stopped looking for work that was in the numerator, and left the workforce, guess what?  The unemployment rate would be zero.  That is the only way we are going to get the unemployment rate down in this country is if we continue the philosophy of deficit spending that is monetized by a central bank.”


This is one of Michael Pento’s most important KWN interviews ever.  He lets listeners know exactly what to expect this week from central planners and how it will impact key markets.  This extraordinary KWN interview with Michael Pento is available now and you can listen to it by CLICKING HERE.


© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The interviews with Gerald Celente, James Dines, Marc Faber, James Turk and Art Cashin are available now.  Also, be sure to listen to last week’s line-up of other KWN interviews which included Egon von Greyerz, Sean Boyd, John Hathaway, Eric Sprott and Jean-Marie Eveillard by CLICKING HERE.


Eric King

KingWorldNews.com

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