- Fleckenstein – Stock Market Is A Farce, We’re At The End Game!
After the initial euphoria following the Spanish bailout, European and US stock markets have surrendered early gains. Today King World News interviewed Bill Fleckenstein, President of Fleckenstein Capital, to get his take on where we’re headed. When KWN last spoke with Fleckenstein, he predicted that stocks would tank, and the Dow tumbled over 900 points in less than 30 days. When asked about that call and what investors should expect going forward, Fleckenstein responded, “I happened to catch that moment in time correctly. The stock market is kind of a farce, which is not to say that stocks are uniformly expensive because lots of them aren’t. On the other hand, any bid over one cent for any financial institution presupposes that you know something about what’s in the entity, and in almost all cases you can’t.”
“This is not to say that all financial companies are worth nothing, but lots of them basically are (worth nothing). So I think there’s a lot of fluff in the S&P. But the fact that the market is not hugely expensive is why it seems somewhat impervious to some of this bad news. Plus, when you have these algorithmic trading programs on the loose, trying to ferret out what the market might be telling you is next to impossible. Last night, after the Spanish deal was announced, they had the S&P (futures) up what, 1.5%, on this complete air-ball of an idea….
- I am unable to confirm or deny the accuracy of this report. However, it does jive with all the other feedback I am hearing. Draw your own conclusions!
Alert From International Banker! -This Is Huge!
by Steve Quayle, www.stevequayle.com
June 11, 2012
Steve tell your listeners to ignore ETFs and continue buying Physical SILVER and GOLD no matter what “spot price” is. Please tell them to take cash out NOW!!!! Only keep in bank what you can afford to lose and what you need to pay bills and expenses. Please tell them to get money out NOW!!! They have till December the latest to do so. Be mindful it CAN HAPPEN SOONER. Prices of Metals without manipulation $1000 SILVER $5000 GOLD—Steve Great show Im listening to you right now.
Here is the latest truth on Spain. The bailout already happened by stealth from very reliable sources. My sources are never wrong. The Bank holiday is going to spill over to Spain, Portugal and France. The Flight to safe harbor now is the UK. From there you will see flights to the US dollar. The main players have moved to Gold. Watch for another shock to SLV and GLD market. This will cause shaky uncommitted hands to dump more SLV and GLD physical. ETF markets will take massive hit.
Germany will start to have massive upheaval as their banks Duetche Bank in particular is over exposed to Spanish Flue, solvency crunch will hit Germany, look for Germans to go mad over the fact they can not have access to their funds.Evolving….. Dollar only rises with IR Swaps and flight to “safe currency” once dirivative market bursts all of this goes parabolic high velocity crash. This is due to the fact that the dollar is exposed as WORTHLESS due to the overleveraged CDS exposure.Very little SILVER left to be mined. It is a precious and Strategic metal. SILVER will be less plentiful than GOLD.Steve Russian economy willl suffer greatly due to EuroCollapse. This is due to the dependency that the Russian economy has with Euro zone energy exports. (GAZPROM) Greek crisis has hurt Russian Natural Gas exports.
Russians are angry at Eurocrats due to their inability to fix the crisis. They are blaming the whole entire western banking system for the recent decline of the Ruble. Steve some of the investors that lost big in Iceland were the Russians and guess what? They are vested in Greece as well. Take to account this along side with recent NATO aggression does not work to help this particular situation.Steve remember Deutsche Bank is #2 only to PNB Paribas the French Banking Giant. The kicker here is that both of their derivative exposure combined is over $125 Trillion!!! You have to be solvent in order to be liquid. This is a solvency crisis. The average joe on the street is duped into thinking it’s liquidity. There is no liquidity.Chinese will back Yuan with Gold. They are stealth dumping US Tbonds. Have not been in any major bond auctions for the last year or so. Will form new banking/ trade system with BRICS—Morgan Stanley is next Lehman bros due to Facebook and Euro exposure. Close all equity accounts and exit markets now.
- Turk – Capital Controls, Bank Bailouts & Escalating Fear!
With continued volatility in major markets, as well as gold and silver, today King World News interviewed James Turk out of Europe. Turk discussed the capital controls being proposed in Europe, bank bailouts and escalating fear, but first, here is what Turk had to say about the recent action: “It has now been 16 trading days since the May low, Eric, which means that the base being formed in the precious metals is getting stronger with each passing day. Importantly, prices have been moving away from the May low, with both gold and silver up more than 4% since then.”
“These are exceptional gains for such a short period of time, but sentiment remains at rock bottom. One reason for the miserable sentiment is that the gold price has fallen half of the trading days since the May low. The same for silver, and some of the daily price declines have been huge, which really affects sentiment negatively. But these low sentiment readings are bullish. It is a sign that a market is sold-out and a rally is due, even if it is just a relief rally….