Today one of the top economists in the world predicted that the Fed will shock the world by increasing QE. He also discussed what all of this means for major markets around the world, including gold and silver. Michael Pento, founder of Pento Portfolio Strategies, wrote the following exclusive piece for KWN.
October 5 (King World News) – “Increased QE Will Shock Market Participants Around The World”
Former Treasury Secretary Hank Paulson weighed in on the budget and debt ceiling gridlock in Washington and offered a solution this week by saying, “I hate the whole concept of a debt ceiling”. He also indicated that putting a legal limit on our nation’s borrowing authority is a “flaw in the system”. In other words, if we just did away with the strictures of a debt limit our problems would go away….
Unfortunately, this view is shared by most in our government. As usual, the majority of those in D.C., regardless of their party affiliation, have it exactly backwards. The problem isn’t that we have a law which caps the total amount of our nation’s public obligations. The real issue is that our leaders consistently pass spending bills which breach our legal borrowing limit. In fact, D.C. has raised the debt ceiling 74 times since 1962 alone.
Continue reading the Michael Pento piece at KING WORLD NEWS