Greg Hunter: Global Disabling Debt Will Cause Hyperinflation – Michael Pento Video
By Greg Hunter’s USAWatchdog.com
Economist and money manager Michael Pento has long warned global central banks would lose control and the ability to keep the financial system propped up. The waiting is over. Pento explains, “The central bank charade is over. Remember back in the Great Recession, they took these emergency measures that were going to be ‘temporary in nature.’ They are not temporary in nature. . . . The quantitative tightening program was cut short. It ended in July. . . . They were only able to take away $700 billion of the $3.8 trillion that they created. So, there is $3.1 trillion worth of base money. That’s rocket fuel of real money in the banking system, dry tinder ready to explode to a hyperinflationary crack up boom. They did it on a permanent basis.”
Everywhere you look, nations are up to their necks in unpayable debt in far greater amounts than in the Great Recession. Pento warns, “This is disabling debt on a global basis. It is profuse in China, Japan, Eurozone, United States and throughout the developed world. You cannot service this debt honestly. In other words, the tax base in the European Union, Japan, China and the United States cannot make this debt solvent. So, it has to be defaulted upon. It can be defaulted upon either through inflation or deflation. I think they are going to try both. They tried deflation. It is happening now, and it’s not working out so well. After this crash becomes completely manifest and salient, they will switch towards inflation. I mean inflation like we have never seen before. There will be a strategy to get to inflation. I am not talking about the Fed Funds Rate down to 0%. That’s not going to work. They will probably launch another round of QE (money printing). . . . They are going to have do Modern Monetary Theory (MMT), negative interest rates, ‘Helicopter Money’ and the banishment of cash.”
In closing, Pento says, “We have gone from 100% confidence in central banks in 2009 . . . that notion has been completely eradicated, eviscerated and obliterated. The faith in central banks, European Central Bank, Bank of Japan and the Fed is almost completely gone. If you want proof, look at the dollar price of gold, and look at the price of gold in all other currencies around the world that it is measured in.”
Join Greg Hunter as he goes One-on-One with money manager Michael Pento.
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After the Interview:
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This segment is sponsored by Discount Gold and Silver Trading. Ask for Melody Cedarstrom, the owner, at 1-800-375-4188.
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- Next Financial Meltdown Fed Going All In – Michael Pento
- Inflation Chickens Will Come Home to Roost – Peter Schiff
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Whistler Blowers, Insiders
i beg to differ and Martin Armstrong is my hero—in the 1930ties the rising dollar killed the rest of the world–they tried everything to torpedo it–the usa got everything including all the gold during the 1930 deal–they are going to do it again and there will be huge deflation as debt blows up in euro land and everywhere else–trump one day will declare the usa a buyer of gold at $9,950.00 and a seller at $10,050.00–the usa will pay all its bonds at 10 cents on the dollar–bond holders are gonnna get killed–done many times in world history–that is why the usa is building up the military at a huge rate–”do you really want to fight us?” to avoid another world war–prepare to fight to avoid a fight—deflation always happens when debt blows up,always–in the 1930ties that commie roooosevelt declared gold price doubled—and they reduced all home loans a 50 percent reduction to lessen the burden–there is a lot more details to this equation but my point is deflation is coming,not hyper–all goooooovermint bonds are trash along with all goooovermint pensions,the greatest wipe out in world history–they will pay soc security but it will only buy about 10 percent of todays value—that is very deflationary my man–J Sinclair says gold to 150 k an ounce–that could be considered inflationary but that is how gooooovermint plays the game—california is going into the trash heap,garbage can of history along with many other states,local goooooovermints–bunch of low life clowns