BILL FLECKENSTEIN: HOLD TIGHT TO YOUR GOLD
APRIL 22, 2013
Pity the wise money manager these days. Our juiced-up financial markets, force-fed liquidity by the Fed the other major world central banks, are pushing asset prices far beyond what the fundamentals merit.
If you see this reckless central planning behavior for what it is – a deluded attempt to avoid reality for as long as possible – your options are limited if you take your fiduciary duty to your clients seriously.
Bill Fleckenstein of Fleckenstein Capital has a difficult time seeing other assets to own besides the precious metals. There are confidence bubbles in stocks, bonds and the fiat currencies that will break – not may, but will – and when they do, he sees no safe harbor for investment capital save gold: