The Real News On Gold And The Economy - Michael Pento

Markets keep going up and the valuation of equities is over 177% of GDP. Dollar going down, gold going up, and Warren Buffett buys Barrack and sells all his shares Goldman Sachs. He's selling banks and buying gold stocks. Late to the game. Long term rates coming down and short term rates are near zero. Inflation target above 2%. Banks can't make money. Silver going up. It will become the best investment in the world. All we need is a vaccine and we can get back to normal. Wrong. Every time the Fed raised rates the markets choked. Then the repo market seized up. Economy was headed down before Covid-19. The debt we've added and the falsification of assets and fake rates. World Economy is rapidly declining. There's no way out!

Michael Pento is a specialist in Austrian economics and is the President of Pento Portfolio Strategies. Prior to starting Pento Portfolio Strategies he served as a senior economist and VP of the managed products division of another well known financial firm. Michael has also created ETFs and UITs that were sold throughout Wall Street. Earlier in his career, he worked on the floor of the NYSE. He is the author of The Coming Bond Market Collapse: How to Survive the Demise of the U.S. Debt Market.