Michael Pento discussed the current state of the bond market and warned of the potential collapse of the US dollar due to the erosion of faith in the world's reserve currency. He advised investors to sell long duration bond exposure and invest in short term US government debt. Pento also discussed the inflation and GDP acceleration, as well as China and Japan's selling of US treasuries. He warned of the massive issuance and supply of US debt and questioned who will buy it, as the Federal Reserve is no longer buying and is instead selling their balance sheet, adding to the supply from China and Japan. Pento also warned of the impending refinancing wall in the corporate bond market and its potential impact on financial entities that own commercial mortgage-backed securities, mortgage-backed securities, and corporate debt. He argued that the real estate market is suffering due to the inability of consumers to afford higher mortgage rates, and that the economy is facing challenges due to high levels of credit card debt and delinquencies. Pento emphasized the importance of active money management in a volatile market and discussed his investment strategy, which includes short-term treasuries, hedges, and physical gold. He also warned of the dangers of excessive debt and the destruction of currency, and the impact it could have on the middle and lower classes. Visit Michael's site before it's too late:
https://PentoPort.com Visit Kerry at:
https://FinancialSurvivalNetwork.com