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Michael Pento continues:
“The gold market seems to be so nervous, and I don’t understand it at all. You had Charles Evans out today saying, ‘Fed policy is working great. We need to load up on carbs for the marathon run that we’re going to do as far as our monetary policy is concerned.’
He’s looking for a Non-Farm Payrolls Report that produces 200,000 jobs every month for 6 months in a row before he even begins to think about, not raising interest raising rates, but (just) lowering the amount of quantitative easing....
Continue reading the Michael Pento interview below...
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“So we are going to have QE for at least until the middle of this year, and that’s QE to the tune of $85 billion a month of balance sheet expansion. And we are going to have interest rates at zero percent for a very, very long time. We’re talking about years. If they ever change, the change is going to be so gradual, and so incremental, that it’s going to be a decade at best before we get interest rates starting to approach normalcy.”
Pento also warned: “There are times when gold and gold stocks will underperform the fundamentals. This is one of those times. But those times are truncated and they never last for long. If you’re having massive currency wars, and interest rates that are profoundly negative and headed further into negative territory, how in the world can you not look at this as an opportunity to add to your position in gold mining shares? I can’t see it any other way, Eric.
I’ve compiled work called, ‘The Coming Collapse of the Bond Market.’ It gives investors a historical perspective of what bond bubbles look like when they’ve burst in the past. It builds the case and proves beyond the shadow of a doubt that once again we are in an epic bubble. It’s the biggest bubble we’ve ever seen on planet Earth.
I know it can’t be seen by politicians and talking heads on Wall Street. It can’t be seen by our central bank, who is blind to bubbles. They (the Fed) were blinded by the housing bubble, even though I was on television telling them there was a housing bubble. They still said they couldn’t see a housing bubble.
Now I’m telling people about what’s going to occur in the United States (and around the world) when the bond bubble bursts, how to prepare for it and how to survive it when it happens. We’re talking about trying to cut spending in Washington D.C., and every time they talk about cutting spending it comes down to pennies on the dollar. Every time there is an opportunity to cut spending they punt on sequestration, the debt ceiling, and continuing resolutions.
It’s always, always tomorrow when it comes to cutting spending. We’re to the point now where our debt is 700% of our income. We are going to be spending 30% to 50% of all of our income just to pay interest on the debt in the next few years. It (the bond market) is a bubble that is going to burst, and it will render this nation insolvent. The time to act is now if we indeed want to try to mitigate the devastating effects of the bursting of this bubble.”
The information above was just a small portion of this incredible interview with Pento. He discusses his predictions regarding central planner moves, and how it will impact investors. Pento also covered gold and silver extensively, as well as what is happening economically around the world, and much more. The extraordinary KWN audio interview with Michael Pento is available now and you can listen to it by CLICKING HERE.
“The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market”
To pre-order from Amazon CLICK HERE.
© 2013 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 Michael Pento, MEP Nigel Farage, Michael Belkin, James Dines, William Kaye, John Embry and Jean-Marie Eveillard are available now. Also, be sure to listen to other recent KWN interviews: Rick Rule, Pierre Lassonde, Gerald Celente, James Turk, Bill Fleckenstein, John Hathaway, and Art Cashin by CLICKING HERE.
Eric King
Gold To Spike As Fears Of Fed Exiting QE Are Preposterous
On the heels of today’s comments from the Fed’s Charles Evans, the man who has been astoundingly accurate regarding moves by the central planners told King World News that concerns about the Fed exiting QE this year are preposterous. He also stated that gold and gold mining shares are going to see a massive move to the upside going forward. Here is what Michael Pento, founder of Pento Portfolio Strategies, had to say in this extraordinary exclusive interview: “I’ve been seeing lately that people are so worried about the Fed’s exit strategy. Every time we have a little bit better economic news that comes out, even if it’s not better economic news, but the prospect of better economic news, people are so worried about the Federal Reserve changing their policy.”
© 2013 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.
February 7, 2013
