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Pento goes on to predict, “I know gold is suffering huge right now, and in full disclosure, I sold most of my gold after the election of Donald Trump. I knew we had rising real interest rates and a stronger dollar. That’s temporary. It’s not going to last very long, but when it reverses, oh boy, it’s going to reverse really hard and really strong.
I am an active manager, and I can buy it back, but if you are a long term holder of gold, you should hold gold. If you are a long, long term holder of gold, you should be using this selloff to buy more gold. . . .
This is going to reverse in early 2017. You are going to hit 3% or 4% on the 10-year Treasury, and the whole scam is going to blow up. We have a record amount of debt worldwide. . . .This thing is going to unravel in 2017, and then you are going to see, I believe, helicopter money on the other side. So, you better get ready to own gold again if you sold it.”
Early 2017 Record Scam Stock Market Going to Blow Up-Michael Pento