Steven Van Metre says a major economy is on the brink of a total meltdown.
The Atlantis Report shares news of how a stock market crash will also bring down cryptos. The Atlantis Report also shares news of a risk warning from Bank of America to all customers.
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Palisades Gold Radio
Mar 8, 2024
Tom welcomes back Michael Pento, President and Founder of Pento Portfolio Strategies, to the show.
Michael begins by focusing on the current state of the US financial system and potential risks ahead. With the bank term funding program expiring next week, there may be stress in the banking system as banks will have to repay credit received and take back their assets. Other risks include rising unemployment rates, impacting various loan markets, and indicators such as a contraction in the manufacturing sector for 16 months, an inverted yield curve, and increasing bankruptcies. Michael suggests that the economy is unhealthy and unbalanced, favoring the wealthy while harming the middle class and lower-income individuals.
Michael feels there’s potential for another liquidity crisis in the US banking system. While the Fed could implement measures like another bank term funding program, it would be problematic amid high inflation, potentially leading to higher long-term interest rates, increased borrowing costs, and a sovereign debt crisis. He argues that options for addressing a liquidity crisis are limited and any measures taken may have unintended consequences.
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Mr. Pento believes we’re in a bubble economy due to excessive money printing and low interest rates. Pento expects inflation to continue to rise, leading to a recession and potentially a serious bear market for stocks.
Pento discusses the relationship between gold and Bitcoin, suggesting that Wall Street and the general public have been more focused on Bitcoin due to its higher profile and influence of sponsors in financial media. He believes gold is a more reliable store of value and better hedge against inflation than Bitcoin. Pento advises investors to pay attention to economic cycles and consider active steps for protection, like diversifying into precious metals and actively managing your investments.
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Steven Van Metre
Mar 8, 2024
This Major Economy on the Brink of Total Economic Meltdown
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The Atlantis Report
Mar 8, 2024
Economists and analysts have raised concerns about the current state of financial markets. Just a month ago, experts started noticing similarities between today’s market and the periods before the dot-com crash in 2000 and the economic downturn in 2008. They pointed out that the stock market was soaring to new highs, much like it did before those crashes. And it’s not just about the stock market. The Bitcoin market is also at stake.
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The Atlantis Report
Mar 8, 2024
Bank of America, one of the largest and most influential banks in the United States, has recently sent a warning letter to all its customers, causing ripples in the financial world. This cautionary advice comes at a time of mixed signals in the market, with bullish sentiments tempered by concerns over valuation and potential risks. While expressing optimism about the S&P 500, the bank is raising significant concerns about its valuation, pointing to historical highs that could spell trouble. Today, we will look into the details of this warning, exploring the intricacies of Bank of America’s analysis, potential market shifts, and the crucial risk factors that investors need to consider in the current situation.
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