Michael Pento - Confidence in Central Banks Obliterated

"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."

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.