Gold Will Soar As The World Sinks Further Into The Abyss
September 16, 2012
Today Michael Pento upgraded his bullish stance on gold by telling King World News, “I now predict that Chairman Bernanke’s actions will send gold to an all-time high.” Pento has been deadly accurate in his predictions regarding moves by the central planners. He now believes gold will hit new all-time highs, “… both in nominal and real terms.”
Michael Pento writes exclusively for King World News to let readers know what to expect from central planners going forward, and how it will impact the economy and key markets such as gold.
Here is Pento’s piece: “Last week, Fed Chairman Ben Bernanke announced that the central bank would launch an unprecedented form of quantitative easing. This ‘new and improved’ iteration of money printing will be without limit and duration. The Fed Head launched QE III ($40 billion of MBS purchases every month) on September 13th and stated that it will remain in effect until the labor market ‘improves substantially.’”
Michael Pento continues:
“He also promised that, ‘The Committee will continue its purchases of agency mortgage backed securities, undertake additional asset purchases, and employ its other policy tools, as appropriate, until such improvement is achieved.
In other words the Fed will continue to counterfeit money and buy everything for sale in America, if need be, until there is a substantial decline in the unemployment rate. But there is a major problem with his plan….