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Eric King:  “You are saying we are either going to tumble into a depression here, or have some kind of serious inflation.”

Fleckenstein:  “That’s been the dilemma ever since the stock bubble burst.  We would have had something close to a depression in the wake of the financial crisis, but they pursued this policy (of reckless money printing).

They are terrified of what will happen.  They are talking about preventing deflation.  It’s just such nonsense.  When they are printing all of this money we can’t have deflation.  But show me one consumer that wouldn’t like deflation.  Wouldn’t we all like to have the price of all the stuff we buy decline?  Hell yes we would. 

What these idiots mean is, they are talking about an economic collapse.  They use ‘deflation’ as the watch word to say, ‘We need to prevent economic collapse.’....

Continue reading the Bill Fleckenstein interview below...


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“Why would we have an economic collapse unless we were pursuing insane policies that were precipitated by them (the Fed)?  So they can’t even have an honest discussion about what they are really concerned about.

Nevertheless, we already know what the decision is going to be if things get dicey -- print more money.  That’s what they do.  Now we’re starting to see the early stages of a stock market correction here.  I think we are going to have the Nikkei under pressure and the stock market here under pressure, and I would like to see how high (both) our (bond market) and the Japanese bond market can get.

If they can’t make new highs and start to stumble, that will be really interesting.  Because the only way the insanity of the current environment is ever going to end is when the world’s bond markets take the printing press away from the central banks which is something I’ve said for a long, long time now.  That has to happen before you ever have any chance of economic sanity.  And to think that these guys are ever going to stop printing money when the policies that they pursue can’t get the economy going is silly.

But look, you have people talking about ‘Goldilocks’ again.  I never thought I would hear the word ‘Goldilocks’ discussed after the 2008 financial crisis.  I thought people would finally act like adults.  But no, they have their other variation of ‘Goldilocks’ called, ‘No other place to invest your money.’  It’s just complete nonsense.

You’ve got so many people that are professionals in the industry who didn’t see the stock bubble, didn’t see the housing bubble, (and who) don’t understand what these central banks are doing.  So you’ve got idiots running money, trillions of dollars, and you’ve got computers that guess what they are going to do and it’s just one giant macro liquidity-fest.  And it’s going to end in a disaster, just like the 2008 disaster, only this time it will be different and it will be worse.”

Fleckenstein also added:  “Stagflation has been viewed as ‘Goldilocks.’  Now, that’s a state of mind.  It will change.  And when they view the present environment and the future environment as stagflation, as opposed to ‘Goldilocks,’ you are going to see a massive repricing of financial assets, and a revaluation of precious metals.”

© 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 above section was just a small portion of what Fleckenstein had to say about the coming financial chaos.  He also discussed gold and silver at length.  The extraordinary audio interview with Bill Fleckenstein is available now and you can listen to it by CLICKING HERE. 

The audio interviews with Bill Fleckenstein, Eric Sprott, Dr. Stephen Leeb, Rick Rule, Gerald Celente, Jim Grant, Michael Pento, Egon von Greyerz, Andrew Maguire and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include MEP Nigel Farage, Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King

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