Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Michael Pento has become feverishly bullish on gold in the wake of Fed chairman Ben Bernanke’s announcement of indefinite stimulus spending, predicting that the Fed’s actions will propel gold to an “all time high.”
Pento, president of Pento Portfolio Strategies and Huffington Post regular writes on King World News that the US Federal Reserves decision to go ahead with a third round of quantitative easing will have a ruinous impact upon the US economy while boosting commodities prices across the board.
According to Pento the Fed’s actions will spur gold prices to unprecedented heights as early as the next few quarters, as OECD nations “sink even further into the stagflationary abyss.”
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