What happens to gold and silver prices when the Fed “goes all in” during the next financial crisis? Money manager Michael Pento says, “They are going to explode . . . when the stock markets melt down and deficits are rising . . . where is the money going to come from? It has to come from another unprecedented wave title way, a tsunami of money printing from the Federal Reserve. If that doesn’t get gold and silver prices which are on deaths door awakened from their slumber then nothing will. . . . The physical demand for precious metals is going to skyrocket. . . .The CFTC futures positions are net short in a huge way. There are record net shorts. When that rally comes, it’s going to be a dizzying rally. . . .The inflationary pressures that are building in debt and in base money supply make me believe that the inflationary pressures are going to be unprecedented, the likes of which we have never seen. It might even make the 1970’s and 1980’s look quiescent. That’s the kind of inflationary insolvency that have been built up. When that is released, you are really going to want to own precious metals.”
Join Greg Hunter as he goes One-on-One with Michael Pento of Pento Portfolio Strategies.
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