- Michael Pento via a recent King World News article, read the full article here:
Sunday, July 8, 2012
Gold Market to Explode Higher in Price
"Commercial banks currently hold $1.42 trillion worth of excess reserves with the central bank. If that money were to be suddenly released, it could, through the fractional reserve system, have the potential to increase the money supply north of $15 trillion! As silly as that sounds, I still hear prominent economists like Jeremy Siegel calling for just such action. If they get their wish, watch for the gold market to explode higher in price as the dollar sinks into the abyss."