We Have Entered A New & More Deadly Phase Of This Cycle
September 23, 2012
Today Michael Pento writes about the ongoing destruction of fiat currencies, and what investors should be doing with their money in this environment. Pento has been incredibly accurate regarding his predictions of central bank moves. He now believes we are entering a “new” and more “deadly phase” of this cycle.
Michael Pento writes exclusively for King World News to let readers know what to expect from central planners, and how it will impact the economy and key markets. Here is Pento’s piece: “The worldwide currency debasement war has now entered a new and more deadly phase. Central banks have escalated the combat plan to bring about the world’s weakest currency for their individual countries.”
Michael Pento continues:
“On the heels of the Federal Reserve’s and European Central Bank’s promise of unlimited counterfeiting forever, the Bank of Japan announced last week that it would expand its purchase of Japanese Government Bonds (and other assets including equities) by 10 trillion Yen. This brings the latest round of BOJ intervention to a total of 80 trillion Yen!
The sad fact is that the developed world’s central banks are in a desperate battle of one-upmanship….