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Bill Fleckenstein continues:

“So, while I think it’s psychologically bullish for gold, I don’t know that there is that much there yet.  We might find reasons for it that suggest there is a lack of trust between central banks.  The people who believe in conspiracies that are determined there’s really no gold there will view this as proof positive that the Germans are now afraid there’s no gold there.

This is part of the argument that central banks are realizing that gold is valuable, which is why you see so many of them buying it with the confetti they print up every night....

Continue reading the Bill Fleckenstein interview below...


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Eric King:  “Going forward, your outlook for gold and silver in 2013, what do you expect to see this year?”

Fleckenstein:  “Higher!  Yes, because those of us that think we need to own gold, we own it for reasons that we can articulate relative to currency debasement, potential inflation, and other various reasons.

There are some people that rent it on a short-term basis solely due to the price action.  And the price action will cause people to get short certain things.  There are a lot of people that don’t like gold and don’t even understand why they would want to own it, and the price action has been poor for some time.

The price action has been poor enough and it’s attracted enough people to puke it up or get short it to trump the fundamentals which I think have never, ever been stronger for gold.  I think that at some point pretty soon here, the poor price action turns into better price action.

Remember, I think we are going to have a whole new contingent of buyers in the form of the Japanese.  And one thing about them, when they make up their mind that they want to get long a market, they do and they do in size and they don’t mind paying up.

So, I think there is a chance for gold to be explosive this year.  All of the stepping stones are there.  Obviously gold had less risk when it was $250, $400, and $600.  So I’m not saying $1,670 is a risk-less price. 

The price does enter into it, but the price has been stressed.  Guys have puked it up into the end of the year.  We’ve had the short-selling and gold has kind of held.  Having said that, I think there is a real chance for an explosive year in the precious metals, and silver as well.

The world is engaged in a massive print-fest, and it’s becoming harder and harder, I would think, to hold to the line that we’re going to have deflation.  It might take people a while to figure out that we’re going to have inflation, but they are telling you that we’re going to have inflation, and they are not going to stop until we get it.”

The above portion covering gold was just a snippet of what Fleckenstein had to say about the markets.  He covers a great deal of ground in a short period of time.  The tremendous audio interview with Bill Fleckenstein will is available now and you can listen to it by CLICKING HERE. 

© 2013 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.

The interviews with Bill Fleckenstein, John Hathaway, Egon von Greyerz, Ben Davies, Kevin Bambrough, Nigel Farage, Eric Sprott, Art Cashin, and John Mauldin are available now.  Also, be sure to listen to the other recent KWN interviews which include John Embry, Gerald Celente, and Andrew Maguire by CLICKING HERE.

Eric King

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