Premium Only Content
Michael Pento: The US Fiscal Cliff Is Here
Michael says, "We see now a rebound in the virus, the closing of the economies, and a fiscal cliff that is going to be absolutely devastating... The cliff is coming because you can't print trillions of dollars and borrow trillions every few months. No economy in the history of planet earth has ever been able to do that without destroying its currency and bond market. I don't think the US will be any different."
To subscribe to our newsletter and get notified of new shows, please visit http://palisaderadio.com
Tom welcomes back Michael Pento President and Founder of Pento Portfolio Strategies to the program.
Michael says, "We see now a rebound in the virus, the closing of the economies, and a fiscal cliff that is going to be absolutely devastating... The cliff is coming because you can't print trillions of dollars and borrow trillions every few months. No economy in the history of planet earth has ever been able to do that without destroying its currency and bond market. I don't think the US will be any different."
In Europe, they are going to issue trillions in stimulus. Everyone is debauching their currency with the US currently leading the way. It's hard to get the world reserve currency to crash in that situation, but what is happening is a rush to precious metals. The dollar is being destroyed against hard assets.
The dollar has topped out on a trade-weighted basis. The national debt is now 850% of our revenue. We are an insolvent, bankrupt nation. Nominal interest rates are zero percent across the entire yield curve. You are virtually guaranteed to get minus two percent interest. He says, "The annual deficit is on track to be between four and five trillion dollars. This is Zimbabwe, banana republic level numbers."
Michael is deeply concerned about the risks of a bifurcated and contested election this fall.
"Spiking deficits, plunging interest rates, you have to own gold."
Time Stamp References:
1:10 - Economic cliff diving.
5:15 - Moar stimulus coming?
8:55 - Stimulation goes global.
10:35 - Dollar, deficits, printing, and hard assets.
14:25 - How he positions with gold assets.
16:50 - Silvers dual components.
18:55 - Election concerns and government stability.
Guest Links:
Website: https://pentoport.com
E-Mail: mpento@pentoport.com
Twitter: https://twitter.com/michaelpento
-
1:11:57
Palisades Gold Radio
27 days agoDavid Collum: Part Two - A 40-Year Correction in Price and Attitude is Coming to the Markets
1.69K5 -
LIVE
The Kevin Trudeau Show
4 hours agoThe Kevin Trudeau Show | Ep. 66 | LIVE at 1 PM CT
256 watching -
LIVE
Tudor Dixon
41 minutes agoExploring Cultural Shifts in America | The Tudor Dixon Podcast
169 watching -
1:21:47
Russell Brand
3 hours agoBiden Unleashes Long-Range Missiles Against Russia & Trump's UFC Takeover in NYC – SF495
91.2K129 -
14:45
Stephen Gardner
2 hours ago🔥Mitch McConnell JUST PISSED OFF 71 million people and Trump!
14.2K220 -
1:01:13
The Dan Bongino Show
4 hours agoTrump’s Big Weekend Turns Heads (Ep. 2372) - 11/18/2024
717K2.83K -
LIVE
Grant Stinchfield
1 hour agoThe Left is Tone Deaf to America’s Mandate for Trump
326 watching -
25:06
ROSE UNPLUGGED
2 hours agoChina Preparing for War: Trump Understands This
71 -
1:25:44
Bek Lover Podcast
1 day agoUAP and Alien Disclosure Reaction With Bek Lover
1672 -
1:15:35
The Rubin Report
3 hours agoCrowd Roared for Joe Rogan’s Response to Trump Hugging Him at UFC Event
77.6K66