You Want to Own Commodities 'In a Big Way' After the Crash: Michael Pento

Michael Pento thinks commodities will be a great place to be, just not right now. A confluence of factors including untenable government debt, a weak banking sector, and extreme overvaluation in the broad market means that stocks are set for a brutal correction, and Michael believes it's better to play defense for the time being, and then look to gold, silver, uranium and other commodities when there's blood in the streets.
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Follow Jesse Day on X: / jessebday
Pento Portfolio Strategies: pentoport.com
00:00 Introduction
01:45 Brutal Market Downturn
05:58 Fed Reaction to Crash
07:38 State of the US Economy
12:30 Where do Commodities Come In?
15:43 Which Commodities Will Shine?
17:48 Thoughts on Gold and Silver
22:16 How is Michael Positioned?
26:30 Defensive Stocks
28:15 Time in the Market or Timing the Market?
#commodities #marketcrash #stockmarketcrash

[@CommodityCulture]

Sign up for a free account at Spotlight Bullion for a chance to win a roll of American Silver Eagles: www.spotlightbullion.com?+culture

[@timkozlow5258]

I have been listening to these guys with the sky is falling speel for 12 years now. It's exhausting. I save gold, silver and cash and that is it. The hell with the rest. The debt is too big. I don't see how it can't fail. I see everyday people over paying for everything . Rot all over the cities. This country is being destroyed on purpose. I never used to think that but it is so obvious now it is hard to think anything else.

[@CommodityCulture]

Very insightful comment, I'm seeing a lot of the same things you are.

[@WW-md3st]

Destroyed by your own President Biden 🤮🤮🤮💩🦨🐀

[@lontaylor89]

I,am thinking the same thing.

[@rickkristofek5296]

Agree

[@uawsux]

Yup

[@Curbalnk]

I'm mostly in cash and waiting for this market to re-level on the reality of our situation. Or are there any ways I can avoid a crunch and maximize my savings of $350k?

[@kashkat987]

from my study, 90% of the time in an election year, the stock market stays positive for quite a long time. 2024 is no exemption, but it is better to be guided, ideally by a well experienced and licensed advisor

[@velayuthman]

Agreed, I just use KZbin for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own. I have consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains in close to decade of having one

[@blaquopaque]

How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.

[@velayuthman]

Heather Ann Christensen is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment

[@greekbarrios]

Thank you for sharing, I must say, Heather appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call

[@user-vg5pd7xx2e]

For Congress to allow this level of debt without pressure on the Executive branch, it's criminal!!!

[@CommodityCulture]

The government has been criminal for a long time now.

[@Joey-fs7ro]

Yeah yeah yeah, the last administration ran up the debt massively and gave tax cuts to the wealthy. Wake up.

[@soundmind192]

True. If this channel was about the the integrity of elections we could talk about criminal causes and effects.

[@tagsoneveryting]

They are the once getting rich from it. Why would they speak out against it?

[@markburnham7512]

My confidence in any pundit is inversely proportional to their confidence level.

[@theinflationsituation8870]

that's a good way to stay grounded for sure. all the best.

[@Notaslave1961]

Buy and Hold combined with passive investing through target date funds will be pretty rough for a while.

[@user-xr8jm7gd6w]

BOY IS THIS ECONOMY SCREWED UP

[@CommodityCulture]

I've had other guests with similar thoughts as well, impossible to know for sure but will be interesting to see how it all plays out.

[@tomsmith-rj3vw]

He was right 2 months ago he said don't short stocks. And wait to buy gold..

[@mikemcglauflin8985]

Thanks!

[@theinflationsituation8870]

I dig Mr. Pento. Nice guest. Thanks!

[@issenvan1050]

What is duration convexity? & how do notes differ from t-bills?

[@pauldichtel6410]

Jesse is always good to listen to.

[@CommodityCulture]

Thank you!

[@clutchhammer]

Excellent commentary 😊

[@maureenparran8918]

Thank you for a very interesting interview.

[@CommodityCulture]

Thank you for watching.

[@Flash023]

Great speaker, I missed uranium as well

[@harley-davidsonofkokomosal4092]

now is s good time to get uranium if you missed it

[@jcjones8205]

GREAT!!

[@TwitchRadio]

Another great video.. 😎✌️... Btw, what's your PO box... I'm sending this guy some physical silver😂..

[@bronxpastaman]

Gregory Mannarino is saying silver is his number one investment holding , what do u think Mr Pento about that???

[@gregorygreene1940]

Don't take either one that seriously. Grifters looking to make money at your expense.

[@haldriver1378]

I'll give you my answer. I'm making 5+% with short term treasuries right now. I could buy physical silver for what? 10% over spot? No way I'm going to buy anything (without wheels on it) that loses 10% day one. I can't get past that.

[@dtrout]

@@haldriver1378Alister McLeod ( I think that’s his name) agrees with you but says saving in metals to spend later makes sense. In high inflation and especially stagflation, gold and silver may be one of few assets that will appreciate in nominal terms…. but may basically hold their buying power while fiat currency buys much less over time. But it’s a big hit up front and then unloading it for less than spot on the back end also painful. Let me know if you have a better strategy …. I haven’t found any alternatives, but am open to ideas.

[@holdenc3082]

GM also blows whichever direction the wind is going and waffles all over the place. Before it was an “80 or 90 percent crash.” Now it’s him telling everyone he’s long the market. He’s a clown that is purely entertainment and offers nothing that is actionable.

[@goretoye]

Good point. Rick Rule made loads of money on uranium stocks. He is now investing heavy in silver mining stocks. I tend to follow guys who are way smarter than me. If Mr. Rule is saying that silver stocks, not physical, has potential, I listen. Look into it, might be worth it

[@andrewjantz5890]

Even a broken clock is right twice a day

[@dtrout]

Pento’s outlook is similar to Zulauf and Pomboy and Dalio and Rickards and several others. The helicopter money dropped by the Govt is what they believe has delayed the crash …. US is pouring money to the tune of $2 trillion into the 2024 economy and that may further delay the crash, but already the interest on the debt is costing more than the money we spend on defense. But I heard one expert saying the Bank Term Finance Program will stop lending March 2024 but the return of the assets to banks will still be on loan for as much as 12 months longer …. so it will take money from banks throughout the next 12 months but not all at once… if that expert (cannot recall the source) is correct…. Please let me know if you have heard otherwise but this seems likely to be true IMO.

[@holdenc3082]

I keep thinking the bond market will eventually have something to say about this reckless spending, yet the Ponzi scheme continues. At some point it would be logical that no one will want our junk bonds at current rates with a government so in debt and paying them off in inflated dollars. It would seem interest rates would have to rise significantly to be commensurate with risk, yet somehow the Fed manages to keep rates on the 10 year and 30 year bonds from getting completely out of control.

[@dtrout]

@@holdenc3082 I don’t really understand why investors are attracted to the bond market unless it’s a local company or hospital and it’s an important asset in the community. Long term bonds are vulnerable to inflation and with all the monetary QE injections and a likely tsunami of US petro dollars returning from around the world where USA trades food or military equipment or land in exchange for paper notes …. inflation is likely to be a continuing problem for a few years. Buying 5-8 year treasury notes or even longer seems like a huge risk in real terms. The USGovt isn’t going to attract much interest in long term notes unless they offer high interest rates…. and the interest expense that would cause would add more to the deficit and the money supply and cause more inflation. Fiscal spending is something that would lose votes…. so debasing the currency to pay the debt in nominal terms seems likely…… to avoid a collapse. But it’s easier to slow down the walk to the cliff vs doing a 180 ….so we edge closer and the inertia of the debt gets bigger until the crash happens because there is no other option…..whether $50T or $200T …. at some point we end up in hyper inflation if we continue to print vast sums each year. In that scenario, long term bonds seems like the worst place to invest. But again, I don’t really understand bond markets … I just think of them as a fixed return with some level of risk of default. Any words of wisdom on why folks would keep buying bonds …. Or are you expecting a mass exodus from bonds and the US cannot continue to float the debt ?

[@jasonruppert9693]

Good interview, smart being a bit more conservative at a time like this

[@CommodityCulture]

Agree with you there.

[@bcarras]

In Pento's vision, where shadows dance, Amidst Scylla's grasp, and Carybdis' trance. As the shell economy's fate unwinds, His lyre's lament, prophecy binds.

[@bcarras]

In Pento's dirge, the Doric strains resound, False markets' wiles in chaos abound. Fiat's illusion, a fragile veneer, New Atlantia's might, now fades, I fear.

[@revo1974]

lol

[@metaljam7197]

I love the comments about Michael being wrong. Speculators never like logic, risk analysis and data, it forces them to admit they have no strategy and are instead gambling and hoping not to crap out. Real investing is about discipline and risk management, why? Real investors will be around long term making money in any environment because they don't lose half their capital chasing bubbles. It's simple math, you lose 50% and you need 100% to get even, it's not hard. The modern Bull right now is a massive speculator, they ignore risk because they view markets as bets on a craps table. The problem is if they guess right and win, they stay at the table until they lose. They don't evaluate data, look at economic theory, and build wealth. They gamble, that's it! It's not about who is ahead right now in a massive speculative bubble, it's about who will be left standing when it's over. That is the real opportunity.....

[@issenvan1050]

Druckenmiller & Paulson have increased their gold mining exposures recently.

[@RockawayBeachNY]

Yes, March 11th, yhe BTFP expires, but it means any bank can still take loans until March 11th and it gives them another year to not have to take it back.

[@sallyb6911]

Love You guys❤

[@CommodityCulture]

Right back at you!

[@issenvan1050]

Pento used to claim gold (stocks) was/were gonna go up with the first rate hike! Not even close!

[@issenvan1050]

How about platinum?

[@brex50]

I'm investing in Lead......LOL...

[@george0r510]

I complement you Mike on the 70% excellent excellent

[@garyschneider6644]

I think that current participants in the BTFP can remain in the program for at least another year, so I’m not sure this represents an “abrupt shutoff”.

[@someparts]

This guy is hedging w broken clock syndrome

[@someparts]

American debt is strong not the economy

[@issenvan1050]

Don’t tech stocks benefit from deflation & lower yields?

[@holdenc3082]

This guy hasn’t been right about anything. All these crash callers just keep pushing their timeline farther out for the big crash. Someone needs to ask Pento how it feels to be wrong about everything. His head would explode.

[@sharktoothdiver]

He's been horribly wrong with his investments for a very long time. I should know, I've had hundreds of thousands with him and lost a ton. Now he's in Treasuries for almost 70% of his fund while I pay him 1 1/2% for that poor performance.

[@holdenc3082]

I really am sorry to hear that. The bears have cost me lots of money as well. Wish I never found any of these channels. Should have remained ignorant like my idiot coworkers and just blindly kept shoveling money into this shit show of a market and just assume it always goes up eventually. I’d have been better off.

[@BigTomInTheBasement]

​@@holdenc3082better off until you're not.

[@jacquesreilly1850]

The only thing keeping this market up is false reports(revised lower every month) and the Plunge Protection Team.

[@GoogleHerouxMA]

Buy back, short squeeze and algos, mainly.

[@issenvan1050]

How would silver perform during a recession?

[@someparts]

Fine if you didn’t pay 10 $ premiums

[@issenvan1050]

@@someparts I buy Krugerrands.

[@kekoa1843]

👍 I always increase my vocab by listenin’ to da man: “alacrity - noun - brisk and cheerful readiness.”

[@philkarkovice5337]

One of the best interviews I’ve heard - Pento telling it like it is - time in the market can be very detrimental to your portfolio. I wish you would have asked him why so many mainstream financial advisors want nothing to do with gold.

[@CommodityCulture]

Glad you enjoyed the interview. Will ask him that next time I have him on.

[@spotsonadog]

Interesting! I like listening to a variety of ideas...your conversation with Mr. Pento made me think...

[@jimscherer8072]

Of what exactly? Or did you just fart?

[@CommodityCulture]

Glad you enjoyed it!

[@bretgreen5314]

The reason I love Pento is because he is old school. He's not old, but he is definitely old school. Also, he makes himself accessible when so many "experts" are not.

[@CommodityCulture]

Completely agree, and a great guy to boot.

[@RockawayBeachNY]

68% in Notes, that's crazy!!

[@martinithechobit]

Yaaaa boy.!.

[@edgardoberlioz2168]

No interest rate cuts coming ! We got government spending on infrastructure

[@Casey-rr7th]

Michael Pento is simply the best. Sage advice.

[@issenvan1050]

How can Japan survive with that level of debt/gdp?

[@yashsingh4515]

Because of more exports and less imports filling gap for money printing

[@issenvan1050]

@@yashsingh4515 What do they export?

[@stephenhaas376]

Just a little something to add to your bottle, the bulk of the boomers retired two years ago in 2022. Their investment strategies have changed. They pull their money out of the market and put it into bonds money. It’s gonna be harder to come bye

[@CommodityCulture]

Good point.

[@danielelford]

Pinto owning no silver is my contrarian bull signal.

[@theinflationsituation8870]

oh yeah, i'm loving silver < 23

[@user-cp7zk9ll3n]

Interesting you are at Novi Sad.. my grandparents came from crvenka in the early 1900s when it was part of the Austrian Hungarian empire. Beautiful part of the world!

[@CommodityCulture]

Yes I love the Balkan region, very beautiful and awesome people!

[@14Unow]

Liquidity market will remain buoyant via Government interventions around the world's banks. Why on earth would the FED allow the banks to fail. The whole world relies on the viability of the dollar and functionality of the US economy. Ask China about its number one export market. That would be the USA. Most other Asian economies are also dependent on guess who? Yes shares maybe over valued and housing too expensive but the market must be allowed to sort those issues out as it always has done successfully in the past.

[@jimscherer8072]

The middle class will be wiped out. Is that sorted out well enough for you? They will indeed keep kicking the can but there is a critical mass where the USD will no longer be able to buy goods and services. Look at Myanmar and Zimbabwe. We are there now. 125% debt to GDP ain't no f***kin joke !

[@energyfitness5116]

Certain banks will be let to fail so others can aquire them cheap. It's not like the Board can't jump to another horse as the one they have rode the last 30 years exhausts. Jaime Dimon sold some of his JP. When was the last time that happened?

[@goldismoney5899]

He uses 2008 as an example of how miners will act in a market downturn. That was an anomaly. This is not 2008.

[@Chuck68ify]

And, miners aren't gold!

[@5harkbyte460]

Have the historically acted otherwise during market crashes?

[@robertjosan]

@yte460 Miners are going to outperform soon SILJ , SIL, GDX, GDXJ; as soon as the first banking crisis and geopolitical crisis develops, and play catch up along with the Russel 2000, while the magnificent 7 delta fizzles. S&P is going to 7,000 but the magnificent 7 will become laggards.

[@5harkbyte460]

@@robertjosan So you’re suggesting that the top companies by market cap in the S&P will become laggards, yet the S&P will go to 7K? That’d speculate a booming economy outside MAG7. So how does that also coincide with bullish sentiment for miners?

[@WW-md3st]

It will be much worse than 2008 🙏

[@povarful]

Our economy is toast!

[@gabrielw7773]

How is the market going to selloff without any selling volume in the indexes, XLF making all time highs, when it's the credit markets that show if we are going to crash or not, and dollar keeps going down. There is way too much liquidity be still produced. Remember the institutions price coming information that we don't know about yet into the stock market early. No selling volume is showing us nothing has shown up on the radar in the pipeline. Market can only go up without any selling volume. I do like how everyone is turning bullish and ignoring a recession this is the reason why we didn't have a recession was because everyone was so bearish. I hope you know how to read liquidity cause once they stop it's over cause then the market has to rely on fundamentals which are bearish.

[@joshsuprstarz]

I fu**ing love this guy! Truth reincarnated!

[@luke-mc9dt]

Surely the fed extends the btfp program, if not the banks are not good, markets built on banking sector Easiet option extend btfp, kick the giant can down the road, a while

[@CommodityCulture]

Definitely see this as a possibility.

[@thomastrefz]

Agreed! They will extend it until something else breaks.

[@nicholaseff8511]

Not low volatility, stocks with inelastic demand

[@thomastrefz]

Bloomberg asked Scott Minerd what his biggest conviction play was at Davos. He said Silver!

[@CommodityCulture]

I remember that, very interesting.

[@kahvac]

Michael seems to be very conservative with his money to the point he will miss out on a lot of opportunities.

[@G_Ellis606]

Scared money...low returns

[@haldriver1378]

​@@G_Ellis606 brave money.. watch out below

[@davemoen6566]

Not losing money is more important than making money.

[@minnesotasalamander5913]

Michael's a smart guy.

[@CommodityCulture]

Can't argue with that.

[@MDHardy]

Seriously Michael - you don't feel that March 11th will come and go with a long term extension of some sort? You honestly feel the Fed will let the regional banking system collapse? Not a chance.

[@shiner8375]

Md, when you manage millions then you can invest on what you think will happen.

[@Immigrationsituation]

The fed and Janet tellen have already said regional banks will be screwed. You don't listen.

[@fibonaccitimes]

I would say perhaps PM stocks have already crashed and are worth buying , but oil, gas, lithium, pgms, copper, yeah those will get crushed if we get a deflationary event.

[@user-kq3jd8wk2w]

Most commodities are all ready in the tank....I know cause I own them and have been and continue to be SMASHED.

[@abrahammuhammad2649]

$50 bucks a year for this guys info? Sign me up YESTERDAY lol

[@sliekerstar]

I like Michael but how does he consider gold a commodity and silver not!?!

[@joycekoch5746]

Pento has been a solid bear for 3 years now.

[@issenvan1050]

So, silver is a reflation trade?

[@celiacruzazucar6630]

The right silver.

[@issenvan1050]

@@celiacruzazucar6630 ?

[@rbflinders]

The miners have already been wiped out.

[@someparts]

No way we see a crash until 2025. They lower the rate and market goes up another 6-12 months.

[@dabbbles]

The entire issue is a nonsense! Neither gold nor silver has any VALUE (as distinct from 'price'). Such 'money-storage' stuff has NO USE: hence NO VALUE. And what's more their price is measured in DOLLARS (or other invented currency) which crashes.. The ONLY way to 'store value' is to stack things that people will always NEED, regardless of the 'financial' shenanigans. (eg food)

[@sparrow7152]

Don't see a crisis happening, bears always come out when market is at ATH'S and say the economy will crash. I'm long all tech. This market is resilient. Don't fight the trend.

[@user-yq3yx3cw3p]

gold to $2500 please....its not too much to ask, is it?

[@ryanbaileyboxing]

Gold < Bitcoin

[@wimvanaerde6249]

Sorry but I've been hearing this forever now.......

[@johnneal4097]

Silver is a base metal? Delusion Abounds…

[@joeysocks5718]

Paper fiat money is created with electric and machines (printers). Digital (crypto) fiat is created with electric and machines (computers)

[@BigTomInTheBasement]

The credit card and home loan defaults are creeping up

[@thomasprejean2107]

Me too.

[@victorsperandeo3609]

The response to the zero reverse repo’s is REPO’S . WHICH ADDS MONEY TO THE SYSTEM . MIKE HAS TO RETHINK HIS KNOWLEDGE .

[@jimscherer8072]

How does someone rethink their knowledge? Is that like picking your nose then eating your buggers?

[@MetalWolf-xn4kg]

The crash has already happened. Its not coming. Pandemic is over and people want to get their lives back and catch up on their spending behaviors. Bull market ahead for all needs-wants based commodities.

[@issenvan1050]

70% of his entire portfolio in physical gold, or 70% of his PMs portfolio in gold & 30% in miners?

[@jacknaneek1681]

This guy? Scheesh. Often wrong wrong and never uncertain.

[@INTERNETVID]

Could you please spend a moment or two some time to touch on your Serbian story?

[@harrypaez2796]

Mike is wrong, defensive stocks are dividend paying stocks.

[@ChatGPT-xm7xs]

clueless. we in a bottoming phase and about to go limit up. we have more oil than we know what to do with including russian oil. oil is going back to $30 , bitcoin to $5MM and the S&P will hit 15,000 by year end.

[@bdek68]

Your delusional

[@CommodityCulture]

What a trifecta of predictions, good luck on that.

[@josephpurdy8390]

All I want for Christmas is for silver spot to go negative.

[@ask_why000]

DCA is trash. Also, that "time in the market..." blah blah blah. Hard no. Buy and hold, RIP.

[@LUIS-633BANK]

👨🏽‍💻👍🏽

[@MDHardy]

No physical silver? None? You've just been removed from my "must listen" list Michael.

[@buderman1]

Don’t take it personally

[@jcryptogoldsilv2826]

Grow up

[@SCOTT-ki3ve]

Mr Pento is brilliant. But physical silver is the deal of a lifetime

[@eelamtamil7621]

Yes, physical Silver ( Warren Buffett bought them)

[@CommodityCulture]

I believe this is called "throwing the baby out with the bathwater"

[@Notaslave1961]

Debt for Equity swap on regional banks??? Fed and Treasury together with a nod from losers in Congress???

[@tinfoilninja]

Digital digits of crypto stole all real money's thunder

[@issenvan1050]

No, natgas is the most manipulated one!

[@issenvan1050]

How about the elections?

[@TakaluKevin]

Why do people even TALK to this walking 'no clue' Michael Pento. Has he EVER been right on anything? Someone should ask him.. what is 2+2.

[@shiner8375]

Who do you take advice from? Cramer?

[@INTERNETVID]

In these days, any spokesperson from the Biden administration would 2+2=5, but I digress. Who do you talk to for financial advice?

[@rolm7877]

15 years talking- yes might happen,

[@tomsmith-rj3vw]

So the kriep s. That run these markets use black majek.. i know . So only put 20 percent of your money into this gambling casino s..

[@benc5332]

Listen to the doomsayers at your own peril

[@hliang4]

Not a top tier advisor

[@jisskk28]

A year or so ago Pento was saying silver wasn't manipulated. Now he finally woke up🤪

[@trapOrdoom]

Good lord Michael Pento is possibly the most wrong economist since 2021. I can literally count on two hands how many times he’s said prices will crash, and when he said it would happen. Shit, I’ll never forget “Q2 2023 I expect a hard crash,” nope.

[@Paul-dorsetuk]

He'll be right one day. Maybe even I will too.

[@drmarkow1111]

I think with a comment like this we're all just impressed you can count up to both hands.

[@nettech7380]

People who called a crash early 2023 weren't wrong. Remember, the fed bailed out the banks. The constant disregard for fundamentals in the markets is astounding, but the time to pay the piper will come.

[@pjdelucala]

The Bank Funding program will be extended.

[@johnelliott672]

Fed will continue bank loan facility under another name.

[@CommodityCulture]

I think this is very likely.

[@jeanpaulfelix4095]

Mr Parento. You did not miss the uranium trade. URNM is trading the same price it did 2 years ago. It is true You missed buying at the bottom in August and its climb back to 2022 prices but you most certainly did not miss the trade. That said, If your not buying right now hand over first you will look back and say I missed the trade. On a side note if you wish to hire a solid analyst you have my email.

[@erichstrahm5213]

This guy has no clue, lose more money pal 😅