World Just Witnessed A Stunning Watershed Moment In History

"Today one of the top economists in the world told King World News the world has just witnessed, “a watershed moment in history.”  This is without a doubt one of the most important interviews KWN has ever done with Michael Pento.  Below is what Pento, who heads Pento Portfolio Strategies, had to say in this remarkable and timely interview.

Eric King:  “Earlier today we had Keith Barron discussing the ‘Great Inflation’ -- a technical hyperinflation in the fine art market (which is taking place).  Some of the (fine art) pieces have gained an astonishing 100% in just 6-to-8-months.  It’s stratospheric the prices those (fine art pieces) are going out the door (of auction houses) for.  But he said you see these things in anticipation of a coming ‘Great Inflation.’”

Pento:  “He’s exactly correct, Eric.  Inflation, as it is created through a central bank, always goes to the top 1% of individuals.  First, it goes to the major banks, and then it goes to the very, very rich.  However, what he is saying is a precursor to what’s going to occur for the overall inflation level of the economy....

“First it goes into assets like stocks, bonds, real estate and art.  Then, it will go down to food and energy prices, which we already see creeping up, and then it goes into intractable inflation.  So we are headed there.  And let me interject this one comment:  I have written to media outlets to ask Federal Reserve Chairman Ben Bernanke and other Fed presidents a question -- and we finally got an answer.  And your listeners (and readers) have to understand this..."

at   kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/23_World_Just_Witnessed_A_Stunning_Watershed_Moment_In_History.html