Fleckenstein – Central Banks & The Fed Are Close To Panic
KingWorldNews.com
July 12, 2012
Today Bill Fleckenstein told King World News, “…the central banks of the world, and in particular the Fed, are close to where they are going to panic and do something big.” Fleckenstein, who is President of Fleckenstein Capital, also said, “What I am salivating over is the chance to really press my gold position. I think the next leg is going to be really, really powerful.” Here is what Fleckenstein had to say in what turned out to be a very powerful and timely interview: “This all-paper experiment started in 1971, when Nixon closed the gold window. We had horrendous inflation in the 70s, Volcker came in and saved the day, and created an environment of credibility whereby Greenspan could ruin things for the next 20 years. He (Greenspan) then passed the baton to Bernanke, who is continuing the ruination.”
Bill Fleckenstein continues:
“That same process is going on around the globe, ex a little foot-dragging in Europe. I don’t know what the catalyst will be (to end this), but my belief is that at some point they will all start printing money. At some point they will recognize we are not going to have a deflationary collapse, that we are not going to have a deflationary debt liquidation, which is really meant to say a dislocation to the downside.
It’s going to be inflation, we’re going to print money and try to inflate the debts away….
The Rest…HERE
