Check

Michael Pento Mid-Week Reality Check

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Michael Pento’s intermezzi are very fun to listen to. This latest version is particularly emotional.

Summary:
– He is 70% in cash
– He has some gold
– He has some short positions
– He expects a market sell-off
– He expects end of tapering by mid 2014
– He sees macroeconomic indicators plunging: GDP, ADP, ISM, NFP … Indeed, the bullandbearwise index, which monitors macroeconomic trends, is down considerably.

– We will see the U.S. dollar plunge if tapering ends and we see it right now as the U.S. dollar is now rolling over as you can see on this chart:

– U.S. bonds will not be the place to stay in, on a declining U.S. dollar.