Global Disabling Debt Will Cause Hyperinflation, by Greg Hunter interviewing Michael Pento.
Economist and money manager Michael Pento has long warned global central banks would lose control and the ability to keep the financial system propped up. The waiting is over.
Pento explains, “The central bank charade is over. Remember back in the Great Recession, they took these emergency measures that were going to be ‘temporary in nature.’ They are not temporary in nature… “
Everywhere you look, nations are up to their necks in unpayable debt, in far greater amounts than in the Great Recession. Pento warns, “This is disabling debt on a global basis. It is profuse in China, Japan, Eurozone, United States and throughout the developed world. You cannot service this debt honestly. In other words, the tax base in the European Union, Japan, China and the United States cannot make this debt solvent. So, it has to be defaulted upon. …
They are going to have do Modern Monetary Theory (MMT), negative interest rates, ‘Helicopter Money’ and the banishment of cash.
Yep, this has all been pretty obvious for a decade. (I used to talk publicly on it.) The central banks were able to stall it, but now it looks like it’s going to begin soon.
Debt will revert to normal levels (150% of GDP, down from the current 375%), interest rates will revert to their normal level (6%), and the political system will decide how we get from here to there and who the winners and losers will be.