All the money managers say this

"Massive Reset" Looms, Pento Warns "Central Bankers Are Trapped"

Pento [money manager] recommends, “I have 10% of my portfolio in gold, and I am going to increase that..."

"I would think you need at least 10% in gold, physical gold, right now. If you don’t have that, then you are doing yourself a great disservice. I include gold, silver and platinum in the precious metals basket, and that amount should be increasing...

We are going to have a massive reset, and all of this debt is going to have to be defaulted upon. It is going to be defaulted upon two ways: through inflation and through implicit restructuring. Knowing how they are going to default on this debt is going to make you solvent...

If you look at all the ingredients that surround your decision as to when you should increase your allocation to precious metals, all those ingredients are in place and getting more so.”

This is nothing new, Mr. Pento.

What is new is that we are not as stupid a Nixon, we have figured out better ways to default.  I cannot see inflation rising more than 7%, even in its peak after the defaults. All we are required to do is be twice as efficient in the process as Nixon, a low bar.

Gold will do well for a year or so until we figure out how the New Fed works, after that we will not see anything extraordinary except a ten year rate at a steady 4% for a few years. Mr. Pento leaves out the learning process, and we done some learning since Nixon.