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Bill Fleckenstein continues:

“We will have a good idea of how the world is going to sort itself out after the next round (of printing).  That doesn’t solve any of their problems.  They are going to be bickering forever and Greece is broke and who knows if Portugal is probably broke?  There is going to be a food fight over there forever.

This is the key thing, we may get past the moment in time where every morning people were waking up and saying, ‘Oh my God, Europe is going to collapse and we’re going to have a deflationary accident.’  I think that mentality, which has been with us since 2008 and has been part of the lexicon when bubbles burst, might be behind us. 

My view is we would never see deflation because I felt the central banks, especially the Fed, would print money to avoid that and that’s been the case.... 

Continue reading the KWN Bill Fleckenstein interview below...  


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“But there are still a whole contingent of people that think, just wait until next week and we are going to have that deflation, we’re going to have the collapse.  I don’t think we can have that sort of outcome until the printing press is taken away.

It’s ridiculous that people talk about the environment as being a deflationary environment.  It’s stagflation.  There’s no growth, there’s no growth in income, but costs are going up.  Anybody who wants to tell me the cost of living has dropped in the last few years is out of their mind.  

People look at housing and say, ‘Oh my God deflation.’  Well, it’s a burst bubble, that’s not deflation.  Deflation is your currency appreciating against a basket of goods and services and that is not happening.  We’ve been experiencing stagflation, it just hasn’t been described that way.  

We’re going to experience more of this and if it starts to be viewed that way or viewed as inflation and not stagflation, that is going to put an altogether different bid in the metals.  People are going to realize, ‘I’ve got to protect myself.’  That will be much more bullish for the metals than what we’ve been through (up to now).”

When asked if that new bid in gold and silver meant the metals could explode to the upside, Fleckenstein responded, “Sure, because a gigantic amount of buying in the metals has been from China and India.  The average American has been more concerned about preservation of capital.  

I’m suggesting that’s going to change and if you are going to have Americans buying gold, on top of the Chinese and the Indians, and the Europeans get involved, you are not going to be able to increase supply, so the only thing left to adjust is going to be price.”

This was an extremely powerful interview with Fleckenstein.  He did an outstanding job of letting King World News listeners know exactly where we are and where we are headed.  The KWN interview with Bill Fleckenstein is available now and you can listen to it by CLICKING HERE. 

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

Eric King

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