Michael Pento - Expect Huge Surge Into Gold In Q3 2021
SBTV speaks with Michael Pento, founder of Pento Portfolio Strategies, about his biggest fear this year - the Fed eventually losing control of inflation which destroys the economy. It is then that the Fed will be forced to hike rates which will pop asset bubbles.
00:00 Introduction01:27 Complete crash in 2020 avoided due to Fed's money printing03:59 Portfolios will be crushed in the coming crash10:21 Fed buying corporate, municipal, and other junk bonds14:58 The zero interest rate trap18:05 Direct injection of inflation with stimulus checks21:33 Ripe for bubble27:35 Bitcoin is susceptible to government action32:50 2021 outlook
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