This Is A Moment In Time That’s Never Been Seen Before
November 13, 2012
Today Bill Fleckenstein told King World News, “… the world is starting to realize that this is a moment in time that’s never been seen before.” Fleckenstein, who is President of Fleckenstein Capital, discussed Europe, the US, gold, and the danger the world is facing today.
Here is what Fleckenstein had to say: “Greece is a serial bailout, restructuring, can-kick, and I guess this is going to continue as long as the riots don’t get worse. Maybe eventually Greece will get ejected from the euro. The question (in Europe) is, is Draghi going to get serious about the OMT or not?”
Bill Fleckenstein continues:
“My suspicion is he is going to. They are going to use the central bank there to make sure the euro doesn’t fracture, in the same way Greenspan and Bernanke have used the printing press to make sure that the United States financial markets don’t collapse.
I suspect Europe will muddle through as long as Draghi is willing to keep buying the government debt and keep the whole process moving….