Before It's News | Popular Money
Unprecedented Wealth Destruction & Volatility Has Now Begun
kingworldnews.com June 30, 2013 On the heels of another wild week of trading in global markets, today one of the top economists in the world warned King World News that market participants should expect violent and unprecedented trading in key markets going forward. Michael Pento, founder of Pento Portfolio Strategies, wrote this exclusive piece for KWN. Pento: “I have warned investors in the past that the Fed’s rapid expansion of credit would cause the U.S. economy to enter a period of unprecedented volatility between inflation and deflation.
Pending Market Disaster: The Global Financial System Is Sliding Uncontrollably Towards An Abyss And There’s Only 2% Chance of Dodging A Market Crash
World GDP FOUR years after the worst of the financial crisis and the world appears to be faltering again. According to The Economist’s calculations, world GDP grew by just 2.1% during the first quarter of 2013 compared with a year earlier. Just 12 months ago, output was growing at a reasonable clip of 3.1%. http://www.economist.com/blogs/graphicdetail/2013/06/focus-7 Why China’s Economy May Be Heading for a Crash China’s central bank sent global markets reeling when it attempted tighten credit and rein in the country’s shadow banking system. But the consequences of China’s credit binge may just be getting started, and experts say there could be more pain to come for the world’s second-largest economy.
Russia and China Building Their Gold Reserves
Western economic commentary on China and Russia is usually coloured by monetarist assumptions not necessarily shared in Moscow and Beijing. For this reason, Russian and Chinese fiscal and monetary policies are misunderstood in financial markets, as well as the reasons their governments buy gold. China has been notably relaxed about her own people acquiring gold, and the government itself appears to be absorbing all of China’s mine output. Russia is also building her official reserves from her own mine supply.
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