Have Governments & Central Banks Bankrupted The West?
March 15, 2014
Today one of the most respected money managers in the world answers the question, have governments and central banks bankrupted the West? He stated, “Our central bank has also increased the amount of high-powered money from $800 billion to $4.2 trillion—and that number is still growing.” Below is what he had to say in this exclusive King World News piece.
By Michael Pento of Pento Portfolio Strategies
March 15 (King World News) – Have Governments & Central Banks Bankrupted The West?
I sometimes feel that the economy is living out the Hans Christian Andersen’s fable called “The Emperor’s New Clothes”. He wrote the story back in 1837 about a vain emperor who hired a couple of charlatans that promise to make him the finest robes out of invisible thread. They convinced the Emperor that anyone not appreciating the sartorial splendor of the two swindlers should be deemed hopelessly stupid and unfit for their positions….