Feb 22, 2012

As our subscribers know, we always link to and recommend reading/listening to Eric King. The quality of the people he interview is truly great and one of the contributers is Michael Pento. He said that money supply rates and inflation have been exploding around the world. Pento also said with currencies burning, global investors need to protect themselves. Here are his comments about the Greek situation:

"The Greeks have done the correct thing. The fact that they have written down their debt is a step towards an explicit default. What they have done in Greece is something they need to do in Italy, Portugal and Spain. When you take down your debt as a percentage of GDP, the way the Greeks have, you will cause a short-term depression." Read more...

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