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Gold Big Beneficiary In Coming October Market Crash

July 20, 2018

Money manager Michael Pento predicts, "The U.S. is not an island. The U.S. is not going to have 4% GDP growth while the rest of the world implodes.

I look at the data, and data says this is the most dangerous market ever. This is the most precarious GDP on a global basis that we have ever had. Global central banks have never before printed $12 trillion.

We have never before had that happen, and the reason why they did it is to take sovereign debt into zero and negative territory so we can go on this inflation quest so asset prices don’t implode. That is all turned on its head.

They have reached their inflation and it’s starting to unwind. Consequently, this whole thing is going to collapse. I have put a check on the calendar for October."

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Michael Pento is the President and Founder of Pento Portfolio Strategies (PPS). PPS is a Registered Investment Advisory Firm that provides money management services and research for individual and institutional clients.

Michael is a well-established specialist in markets and economics and a regular guest on CNBC, CNN, Bloomberg, FOX Business News and other international media outlets. His market analysis can also be read in most major financial publications, including the Wall Street Journal. He also acts as a Financial Columnist for Forbes, Contributor to thestreet.com and is a blogger at the Huffington Post.

Prior to starting PPS, Michael served as a senior economist and vice president of the managed products division of Euro Pacific Capital. There, he also led an external sales division that marketed their managed products to outside broker-dealers and registered investment advisors.

Additionally, Michael has worked at an investment advisory firm where he helped create ETFs and UITs that were sold throughout Wall Street. Earlier in his career he spent two years on the floor of the New York Stock Exchange. He has carried series 7, 63, 65, 55 and Life and Health Insurance Licenses. Michael Pento graduated from Rowan University in 1991.