Bill Fleckenstein was on Bloomberg today talking about the big issues of the moment: deflation, inflation, gold, Greece, and the US dollar.
It’s a great interview that shines light on some important ideas, most notably the false dichotomy between deflation and inflation.
While the CPI shows deflation, this is essentially a green light for the Fed to print money like there’s no tomorrow, and it’s that money printing (not price inflation, per se) that he’s looking to make money. Gold is just one way of doing that. And as long as we have deflationary scares, the Fed will keep printing money.
As for the US dollar, he’s not a fan, and notes the only difference between the US and Greece is that we have a printing press. (Via PragCap)
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