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Michael Pento Exclusive: Gold Sniffing Out Central Bank Failure; Fed Tightens into Economic Weakness

Welcome to this week’s Market Wrap Podcast, I’m Mike Gleason. Coming up we’ll hear from Michael Pento of Pento Portfolio Strategies on how the broken window fallacy is now becoming a part of the narrative surrounding the terrible tragedy in the Houston area and also talks about an exciting setup he sees in the gold market and what will be the tipping point. Don’t miss another wonderful interview with Austrian economist and money manager Michael Pento, coming up after this week’s market update. Precious metals markets enter trading for the month of September with strong upside momentum on the heels […]

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New Normal Could Plunge Economy into Recession

The big news from the Federal Reserve wasn’t the quarter point rate hike (which was expected). The big news was Fed chair Janet Yellen’s announcement of “balance sheet normalization.” Fed Chair Janet Yellen claims the central bankwill soon unwind its balance sheet. In plain English, the Fed claims it will begin selling off assets from its balance sheet, which remains bloated from previous Quantitative Easing programs. If “normalization” does actually proceed at full speed, it would entail $ 50 billion in financial assets per month being dumped into the market. Not even Fed officials know how markets will react to […]

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Why Is Obama Moving Troops Into Poland And Provoking A War With Russia Right Before The Inauguration?

January 20th cannot come soon enough.  Instead of stepping back and trying to ensure a smooth transition for Donald Trump, Barack Obama has decided to go hog wild and use every ounce of presidential power still available to him.  He has been establishing a bunch of new national monuments, he just stabbed Israel in the back at the United Nations, and on Thursday he even took time to give Joe Biden a Presidential Medal of Freedom.  But one of the things that has people the most concerned is his endless provoking of Russia.  Every few days it seems like Obama […]

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Activists Are Hoping To Turn Donald Trump’s Inauguration On January 20th Into One Of The Biggest Riots In U.S. History

Radical leftists are planning to make January 20th the most chaotic Inauguration Day in American history.  Their stated goal is to “disrupt” the Inauguration festivities as much as possible, and they are planning a wide range of “actions” to achieve that stated goal.  Some of the more moderate groups are using terms such as “civil resistance” and “civil disobedience”, but others are openly talking about “blockades”, jumping barricades, throwing projectiles and “citywide paralysis”.  My hope is that all of their efforts will turn out to be a big flop, but it is important to understand that these groups are well […]

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How The West Has Been Selling Gold Into A Black Hole

BullionStar Kindly be advised to have read my posts The Mechanics Of The Chinese Domestic Gold Market and The Great Physical Gold Supply & Demand Illusion before continuing. In December 2016 Chinese wholesale gold demand, measured by withdrawals from the vaults of the Shanghai Gold Exchange (SGE), accounted for 196 tonnes, down 9 % from November. December was still a strong month for SGE withdrawals due to the fact the gold price trended lower before briefly spiking at the end of the month, and the Chinese prefer to buy gold when the price declines (see exhibit 1). In total Chinese […]

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Global Financial Markets Plunged Into Chaos As Italy Overwhelmingly Votes ‘No’

Italian voters have embraced the global trend of rejecting the established world order, but the “no” vote on Sunday has plunged global financial markets into a state of utter chaos.  The euro has already fallen to a 20 month low, Italian government bonds are poised for a tremendous crash, and futures markets are indicating that both U.S. and European stock markets will be way down when they open on Monday.  It is being projected that Italian Prime Minister Matteo Renzi’s referendum on constitutional reforms will be defeated by about 20 percentage points when all the votes have been counted, and […]

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Are Trolls Turning The Internet Into A Festival Of Hate?

Have you noticed that people say some of the most hateful things imaginable on the Internet?  Earlier today, I came across a Time Magazine article entitled “How Trolls Are Ruining the Internet“, and it made me reflect on my own experience as the publisher of a number of prominent websites.  Over the years, I have often gotten to see what is really going on in some of the darkest hearts in our society.  There are people that come to my websites that somehow think that making crude sexual remarks about the wives and children of people that they have never […]

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HARRY DENT: Central Bankers are Driving Us All Into the Dirt

One of the major triggers I’ve been warning about is already happening, even before we understand and/or admit that we are in a recession. Zero Hedge just picked up on an article from Jeff Cox at CNBC. Global corporate debt now sits at a record $ 51 trillion and is poised to hit $ 75 trillion by 2020 – just four years away. If interest rates rise and the economy slows, it will be very hard for companies to roll these bonds over – and then we get what S&P Global Ratings is calling “Crexit.” The bond markets dry up […]

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Gazing into the distance

The result of the EU referendum was a considerable shock – not just to the UK, but to the EU and indeed to the whole world. Just how big a shock it was is evident from the fact that the OECD has suspended its forecasts until September. It usually only does this for “significant unforeseen or unexpected events”, such as a major earthquake or a tsunami. Brexit is a shock to the global economy of a similar order. And it has permanently changed the world. Whatever the future holds, we can be pretty sure that it will be very different […]

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June 23, 2016: The Brexit Vote Could Change EVERYTHING And Plunge Europe Into Financial Chaos

On June 23rd, a vote will be held in the United Kingdom to determine if Britain will stay in the European Union or not.  This is most commonly known as the “Brexit” vote, and that term was created by combining the words “Britain” and “exit”.  If the UK votes to stay in the European Union, things over in Europe will continue on pretty much as they have been.  But if the UK votes to leave, it will likely throw the entire continent into a state of economic and financial chaos.  And considering how bad the European economy is already, this […]

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