Michael Pento: Fed Paused To Prevent Banking System Collapse

Liberty and Finance, Released on 6/23/23

Europe – on aggregate the largest economy in the world – just went into recession. In the U.S., many economic indicators are flashing red, and “everything is pointing to a recession,” says Michael Pento of Pento Portfolio Strategies. This year’s rally in stocks is merely a bear market rally, he notes, and discusses investments that he’s currently looking at.

0:00 Intro
2:10 Economy
9:50 Bear market
11:59 Debts
17:30 Negative real rates
21:33 Banking system
27:00 Gold update
32:00 Government folly
33:00 Pento Port

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.

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