Click the play button below to listen to Chris’ interview with Bill Fleckenstein (28m:26s)
– Bill Fleckenstein: Hold Tight To Your Gold (PeakProsperity, April 21, 2013):
Why it’s going to go “one hell of a lot” higher
The bond market is an accident waiting to happen.
When the bond market finally does crack, it is going to be one epic nightmare that is going to make 2008 and 2009 seem like a picnic. It will be a different kind of a crisis; but it will be an enormous crisis. These people that are bullish about stocks and bonds and the bond market, they do not understand anything.
We will hit a moment in time where there will be a rapid acceleration of the perception that people are being cheated via inflation by these money-printing policies. Why Americans seem to think there is no inflation just because the CPI says so, when their checkbooks every day ought to tell them there is, I cannot explain that. But there will be a change in psychology, and there will be a massive stampede into gold here and everywhere else around the world, because it is the only way you can protect yourself against these policies.
Pity the wise money manager these days. Our juiced-up financial markets, force-fed liquidity by the Fed the other major world central banks, are pushing asset prices far beyond what the fundamentals merit.
If you see this reckless central planning behavior for what it is – a deluded attempt to avoid reality for as long as possible – your options are limited if you take your fiduciary duty to your clients seriously.