Money Metals Exchange, Released on 6/5/20
Michael weighs in on the massive increase in the Fed’s balance sheet over the last several months, amounts that make the stimulative response to the Great Recession a decade ago look like chump change. But with that said he shares why he doesn’t see the dollar collapsing – at least not against other fiat currencies – and also talks about the critical importance of ditching passivity when it comes to investing and how those that are passive will see huge portions of their wealth wiped 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.