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Free Markets Have Been Completely Obliterated-Michael Pento

from USA Watchdog:

Money manager Michael Pinto says, “We live in a world now where free markets have been completely obliterated.

You can’t find a free market left on the planet, and that goes for commodities, equity markets, currencies and particularly goes for the bond markets. The bond markets now do not represent any vestige of reality whatsoever. That should be apparent to anyone with a pulse or an IQ better than a retarded ameba.”

On the recent Swiss National Bank move to remove the cap from the franc, Pento says, “It’s the steady erosion of the lack of faith we have as investors now in central banks and fiat currencies. In the case of the Swiss National Bank, they could no longer peg to the euro.

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5 comments to Free Markets Have Been Completely Obliterated-Michael Pento

  • rich

    As U.S. Bids to Renew Relations With Havana, Heralded Cuban Diabetes Drug Remains Off-Limits –

    HAVANA – President Obama’s efforts to renew relations with Cuba may soon allow Americans to visit this island’s pristine beaches and start lugging home shopping bags filled with long-coveted cigars and rum. But for frustrated American physicians battling to save the feet and legs of tens of thousands of diabetic patients, it may be a long wait before a much-heralded limb-saving Cuban drug can legally make the 90-mile trip to U.S. shores.

    Because of the Cold War-spawned economic blockade against what Washington has long considered the Communist threat in the Caribbean, the developer of the medication, the Center for Genetic Engineering and Biotechnology in Havana, is forbidden to bring a nine-year-old drug, called Heberprot-P, to the U.S. for clinical trials and use.

    “I don’t know what’s going to happen, but I do know that it may be that American legs are being lost while Cuban legs are being saved because Washington agencies …won’t allow that medicine in,” said Dr. I. Kelman Cohen, professor emeritus in surgery at Virginia Commonwealth University.

    “I think all the American medical community really wants is for Heberprot to be allowed into the country for testing…Let’s get it tested and see if it will really save the thousands of limbs that many believe it can,” Cohen said.

    Diabetes researchers at Umeå University in Sweden reported in 2013 that worldwide, a limb is lost every 20 seconds because of a foot ulcer that doesn’t heal. According to the American Diabetes Association, in the U.S. alone more than 73,000 diabetics undergo amputations every year, or about one every seven minutes.

    “It just rips me apart to know that there may be something out there that has the potential to save limbs and we can’t get a chance to test it because of politics rather than public health,” Armstrong said in an interview. Each year, he and his team at the Tucson medical center spend hours in operating rooms trying to save the lower limbs of more than 11,000 patients from around the world.
    – See more at: http://www.fairwarning.org/2015/01/u-s-bids-renew-relations-havana-heralded-cuban-diabetes-drug-remains-off-limits/#sthash.1cs3kVSC.dpuf

    but, but what about the surgeons salaries and the wound management companies billings?we have to protect them, right?

  • Gnostic

    this guy knows his stuff, then again don’t we all?

  • The Truth

    This is one of the most level headed person I always read and follow. He is not full of hype but always gives the fact. I think Greg did himself and his listeners a favor getting Michael on. Kudos SGT for posting this also!

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