The Phaserl


Fleckenstein – The Fantasy Will Die & Gold Will Skyrocket

from KingWorldNews:

Fleckenstein: “One of these days psychology is going to change regarding inflation, or the success of the central banks, and gold is going to have a very large run, whether it (the run) is $1,000 or $2,000 to the upside, I don’t know. It’s impossible to guess….

… All markets have fundamental facts that move them and sometimes the price action enters into that. With the metals, the price action seems to dominate the fundamentals a lot of the time. And the price action has been negative, so people are convinced it can only go down.

You have the dopiest of reasons dreamed up as to why gold should go lower, and yet they work. And all the intelligent reasons why it should go up, they don’t work. That’s just the way markets are. I already talked about how stupid JGBs are.

Bill Fleckenstein Continues @

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1 comment to Fleckenstein – The Fantasy Will Die & Gold Will Skyrocket

  • Ed_B

    “At some point it will and we will probably look at whatever the catalyst is and say, ‘Are you kidding me? That’s what made it go up.’ And then gold will get on a run and when it’s going up people (in the mainstream media) will make up reasons why they need to own it, just like they make up reasons for gold to go down.”

    No, Bill, that’s NOT what will happen. The MSM will spin a rising gold price as a BAD thing because “it is just too volatile for investors”. Different day, same BS. Remember that these are the same folks who never recommended buying gold as it went from $270 to $1900. Had a stock or mutual fund done that, they would have been hysterical in their daily recommendation of everyone buying it.

    As to inflation and deflation… well, these are monetary terms that apply specifically to fiat currencies. Inflation is merely the rate at which the buying power of a currency is destroyed. Deflation is merely the rate at which the buying power of a currency grows. Now, which do you think would be more useful in your life – money that buys MORE goods and services over time or money that buys LESS goods and services over time? Answer that and you will know whether inflation or deflation is worse.

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