As the NY Fed’s interventions in the repo market grow in size and scale, DOUBLE DOWN asks Michael Pento if investors should be spooked? He believes repo interventions are even worse than QE and that the next Bear Stearns is being bailed out as we speak. They also discuss China’s announcement that they are seeking a way around the US dollar as a settlement layer and instead adopting their own cryptocurrency, or ‘blockchain.’ Tune into Double Down to hear what Michael Pento has to say on this and more.
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