- Palisade Radio
We welcome back a returning guest Michael Pento to Palisade, Michael is President 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 universal basic 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.