The Phaserl


Michael Pento Warns of Exploding Debt, Inverted Yield Curve, and Then “Economic Armageddon”

by Mike Gleason, Money Metals:

Coming up Michael Pento of Pento Portfolio Strategies joins me and lays out a scenario he says is ahead for the economy, interest rates, and monetary policy – all of which point to a watershed moment for gold. You simply will not want to miss a truly enlightening interview with Michael Pento, coming up after this week’s market update.

Gold and silver markets held their own this week even as crude oil prices dipped, the Fed vowed more rate hikes, and the stock market set another new record. The gold price currently comes in at $1,268 an ounce, up 0.9% on the week. Silver trades at $17.38 as of this Friday recording and is posting a weekly gain of 2.6%.

On Tuesday, the White House sent Congress a $4.1 trillion spending plan. President Trump’s budget makes cuts to a variety of agencies and programs. At the same time, it boosts defense spending by $500 billion over 10 years and makes no changes to Medicare and Social Security retirement benefits — the largest programs in the budget.

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