The DJIA closed down 297 today, see here.
Posted on 11/01/2011 1:55:28 PM PDT by blam
BILL FLECKENSTEIN: The Money Printing Era Will Implode In One Or Two Years
Gus Lubin
Nov. 1, 2011, 3:39 PM
Bill Fleckenstein recommends gold above all as a hedge against money printing from the Fed and the ECB.
In one or two years you'll be thankful, he tells King World News:
Tomorrow the Fed is probably going to bring QE3 and meanwhile Europe is in a state of disarray. All of that will sort itself out bullishly for gold even if were to decline for the next couple of days. The Japanese, the British, the Swiss, the Americans are all printing money. In Europe, this particular phase of their crisis has all been about the fact that Trichet didn’t want Greece to default, but didn’t want to print money.
Now the ECB is actually printing money in a back door fashion because they have these repo’s. They are also buying debt and they are not sterilizing it, so they kind of are (printing money). But we have evolved as a society over the last twenty or thirty years since the world went off the gold dollar exchange standard, whereby every iteration we rely on the printing press more and more.
Now we are just on a pure printing press standard. This will end, this is the end game for that. It could take a year or two. Maybe if the euro has to implode and they all have to take printing presses back and use them for the people to revolt because in the end the printing press is no panacea, otherwise Zimbabwe wouldn’t have collapse.
Catch the full interview here >
(Excerpt) Read more at businessinsider.com ...
It almost has to doesn’t it. Debt is thru the roof and no one seems willing to pay the fiddler.
1 or 2 years? That’s rather optimistic of him.
WE CAN’T WAIT FOR OBAMA TO RESIGN!
Be careful w/Fleck: Biggest (or one of the biggest) shareholders in PAAS.
Liberalism (or Socialism or Communism) at its best.
Tax and SPENDING to redistribute wealth and ease the troubled guilt-ridden minds of those on the Left who feel some need to right the wrongs of life in the name of Social Justice.
The Left would much rather “get even” with success and producers than they would allow an economic free market that provides full employment while those risk takers become wealthy.
So they punish success and then print money (LOTS and LOTS of MONEY!!) to be given to the masses instead of allowing them to have a job.
The above is the 0bama mindset and Blueprint for America.
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