Pento – Gold Will Surge 20% to 30% in the Next Twelve Months
March 3, 2012
Today Michael Pento told King World News precisely when he expects the next round of quantitative easing to be announced and how much the price of gold will spike. For KWN readers globally, according to Bloomberg News, Michael Pento has correctly predicted the annual high prices of gold for the last three years in a row. Pento, who founded Pento Portfolio Strategies, also gave this extraordinary account of previous rounds of QE and their impact on the gold market: “Global central banks have now entered the twilight zone of monetary policy. Never before in the history of planet earth have we seen such a synchronized counterfeiting scheme to monetize insolvent sovereign debt. However, right now there is a break in the action.”
Michael Pento continues:
“There has not been an announcement or imminent threat of a new round of QE or LTRO form either the Fed or the ECB. So I thought it would be a good idea to look at the Fed and ECB’s recent spate of money printing and its affect on the price of gold both during and after their counterfeiting sprees.
Massive monetary intervention started with the Federal Reserve in March of 2009 with the launch of QEI. The Fed, at that time, expanded their relatively small mortgage buying program and promised to purchase $750 billion more in mortgage-backed securities….