Michael Pento: The US Fiscal Cliff Is Here

Palisade Radio, Released on 8/12/20

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.”

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.

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.

Notify of

Inline Feedbacks
View all comments