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Fleckenstein:  “Probably anyone who listens to your wonderful interviews already understands that money printing can’t solve anything ... Most recently the housing bubble led to the collapse in 2008/2009, and now we’ve got QE of biblical proportions being foisted upon us by the Fed, BOJ (Bank of Japan), Swiss National Bank, and probably the BOE (Bank of England) soon, etc.

The irony of it all is that 5 years into zero rates, and America alone (with) $5 or $6 trillion of deficit spending, the economy is still crummy.  No one ever says, ‘Why is that?’  Well, the reason is because money printing doesn’t work.”

Eric King:  “When you said earlier, ‘revaluation of precious metals,’ Bill, as you know we had a 25-fold move in gold, 38-gold move in silver in the 1970s.  The sentiment right now is about as bad as I can remember it in the last 12 years.”

Fleckenstein:  “Yeah.  I think this is probably the most exciting opportunity that I maybe have ever seen.  You know 1982 in stocks was pretty damn exciting I’ve got to say.  1984 in bonds was pretty exciting.  God, you just couldn’t lose, right?....

Continue reading the Bill Fleckenstein interview below...


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“What was going on in the 1970s was like a rounding error 3 decimal points to the right of what is going on right now from a central bank perspective.  And yet you’ve got the sentiment and the structure of the gold market both in the ETF, where there is a big short interest, and the futures market where there is a decent size short interest, and where the commercials have their smallest short position in probably about a decade.

You’ve got a very powerful, explosive setup.  Meanwhile, all of this paper gold that’s short has all been shipped to the Chinese and the Indians, and the physical buyers, they are not puking that back out.  You’ve seen this massive transfer of gold, from paper gold in the West, to physical gold in the East. 

And the next time the bears, who are wrong to be short, have to cover, and the sold-out bulls have to pile back in, it’s going to be pretty damn explosive.  Then the market will be going up when the news is constructive, and who knows how high the market may decide to go?

Everybody and his brother is bearish.  I get sent two articles a day about some knucklehead who’s bearish on gold.  Well, you know what?  They are all bearish for the same two reasons:  The chart looks bad, and the price is wrong.  Like they know what the price (should be).  How do any of us know what the price is supposed to be?  It’s just a price.

But in any case, the fundamentals dictate you have to own gold to protect yourself.  How much is up to you ... Maybe we are going to explode out of here.  The setup is explosive.  Gold has been going down for 18 months now or just about.  So, essentially it’s been in a bear market since the fall of 2011.

But you know what?  If it’s been a bear market inside of a massive secular bull market, then 18 months, you know that’s long enough.  We’re getting to the end of that run too.”

© 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.

IMPORTANT - This was Bill Fleckenstein’s greatest audio interview ever and it is now released.  The above section was just a small portion of what Fleckenstein had to say.  He discussed the coming financial chaos and gold and silver at length.  The extraordinary audio interview with Bill Fleckenstein is now released 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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