On the heels of the Dow and S&P 500 hitting new all-time highs this week, today Bill Fleckenstein spoke with King World News about what is going to be the trigger for major trouble in world markets and a turnaround in the gold market.

September 22 (King World News) – Eric King:  “Bill, the bond markets in the West, in Japan, they’ve started to move, particularly in the United States.  Can you talk about that?”

Bill Fleckenstein:  “I’ve noticed the same thing.  In America, obviously the 10-Year has now managed to scale the 3% level.  And in Japan, we’re up to a massive 12 basis points.  Obviously 3% on the 10-Year doesn’t matter much now, even though it seemed to matter earlier this year when it was threatening those levels.  So I don’t know what level of rates in the bond market matters here or anywhere else.

What Is Going To Be The Trigger?
And as I’ve said to you many times, even though the Fed is completely out of control in what they’ve done — you know they’ve sponsored these bubbles and misallocated the capital and caused all kinds of problems in America as a consequence of their policies — the ECB and the BOJ are even more reckless.  
So if we’re going to have a problem in the world precipitated by bond markets, which at some point we will, it’s difficult to know where it’s going to begin or what rate is going to be the trigger…

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Bill Fleckenstein continues:  Again, all these things we are dealing with are new because we’ve never had QE and we’ve never had, potentially, QT.  And so it’s difficult to say, ‘In the past when this has happened it’s meant this or it’s led to this.’  There is no ‘in the past’ in this regard.

All I knew coming into this period, starting back in 2009, was that when the central banks printed money, asset prices went up.  I never knew it would last 10 years and counting and drive the markets this high, that we would see negative rates, etc, but here we are.  So all you can do is know that it is a…To continue listening to the powerful KWN audio interview with Bill Fleckenstein discussing Friday’s gold smash and much more CLICK HERE OR ON THE IMAGE BELOW.

ALSO JUST RELEASED: SURPRISE: Commercial Hedgers Remain Long Gold & Silver Markets, But Here Is The Big Shocker This Week CLICK HERE TO READ.

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