Today Bill Fleckenstein, President of Fleckenstein Capital, told King World News that the Fed is trapped and we may see a little panic in stocks. He also discussed the gold and silver smash, but first, here is what Fleckenstein had to say about what is happening in the markets: “We are going to get more money printing out of the Europeans. We got it out of the Japanese, the British, the Swiss, and somehow guys who want to buy stocks at 1,400 on the S&P all conclude that the Fed is going to stop easing.”
“I don’t understand how so many people who believe in Santa Claus, the Easter Bunny and Goldilocks can all be employed on Wall Street. I mean the stupid television, Bubble Vision and all of these knuckleheads, it’s just noise. It’s just crap that they make up because they have to say something in that moment in time.
"Anyway, it’s a frustrating period for most people, but the resolution to this, the consequences of money printing are going to be more inflation and the metals (gold and silver) are going to be a big beneficiary of that. For all I know, the decline that’s under way right now (in gold and silver) may stop (next) Tuesday.
"The stock market is, for the moment, the vehicle of choice for money printing to flow into...."