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.”
On the heels of today’s action in gold and silver, KWN is continuing to track the incredibly important chart that is deeply troubling to the gold and silver bears. Acclaimed trader Dan Norcini had provided this chart to exclusively to King World News along with some comments. Today KWN spoke with Norcini to get an update.
On the heels of continued volatility in gold and silver, today the firm that is calling for $10,000 gold released an excellent commentary. Paul Brodsky and Lee Quaintance are founding partners at QB Asset Management and the piece they put together below is outstanding.
Today John Embry told King World News, “You have to remember that anybody who thinks gold isn’t a good investment here is voting for currency and the US dollar, and to me that’s almost an impossible argument to make.” Embry also stated, “Under typical circumstances, with the weakness in the gold price and the Dow (on Friday), the gold stocks would normally have been decimated.”
Today 40 year veteran, Robert Fitzwilson, wrote the following piece exclusively for King World News. Fitzwilson, who is founder of The Portola Group, warned, “While cash and debt instruments have been the safe choice in the past, they are ground zero for the continuing destruction of fiat currencies.” He also cautioned, “The final destruction will be swift and violent, so preparation needs to be made before that day.”
On the heels of the latest jobs data, today Michael Pento writes about the incredible challenges that central planners face in Europe, the US, and China. Pento has been incredibly accurate regarding his predictions in these areas. He also states that “To accomplish the goal of achieving a real rate of return on investments, after taxes and inflation are considered, history proves that can only be supplied by owning hard assets.”