Fleckentstein – Global Meltdown & Why Bitcoin Will Go To Zero
December 6, 2013
Having recently cautioned there was a danger that “all hell is going to break loose,” today Bill Fleckenstein spoke with King World News about the possibility of a global meltdown and why Bitcoin will go to zero. He also discussed what all of this means for world financial markets. Below is what Bill Fleckenstein, who is President of Fleckenstein Capital, had to say in this powerful interview.
Fleckenstein: “What happened in 2008 was the financial system collapsed because it was insanely leveraged on the stupid debts of the real estate bubble. So the financial system melted down and it gained a velocity. It was like we were going to have the ‘China Syndrome’ and melt down to the core of the Earth….