On The “Lunatics” At The Fed” Bill Fleckenstein Warns “As The Fantasy Dies, Gold Will Soar”

Tuesday, September 17, 2013
By Paul Martin

by Tyler Durden
ZeroHedge.com
09/16/2013

“Right now, people continue to believe that the same idiots that created all of these problems, namely the central banks, are going to somehow get us out of it with the exact same policies that got us into it,” is the subtle manner in which the outspoken Bill Fleckenstein describes the ‘fantasy’ in which most Americans live during this wide-reaching interview. “We’ve had so much artificial stimulus, and we’ve misallocated so much capital;” he adds, warning that Americans “believe in the lunatics at the Fed, and the rest of the Western world is that way (as well).” His conclusion is clear, “as the fantasy dies, then they will understand the need to own gold,” and if the Fed tapers and is forced to un-Taper, “more people will see that the Fed is trapped.”

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