On the heels of renewed discussion about a global ‘debt jubilee,’ today Michael Pento spoke with King World News about, “… why this could never happen today without unbelievably painful consequences.” Pento predicted, “You would see a huge cascading effect, where all asset prices would crumble.”

Pento has been incredibly accurate regarding his predictions of moves by the central planners. But regarding a debt jubilee he warned, “We have quite simply past the point of no return, and there is no way this will ever be done voluntarily.”