Legendary Short Seller Warns Gold May Surge $100 – $150 Violently And In A Short Space Of Time

Legendary Short Seller Warns Gold May Surge $100 – $150 Violently And In A Short Space Of Time

Legendary Short Seller Warns Gold May Surge $100 – $150 Violently And In A Short Space Of Time

Today a legendary short seller told King World News that we may see the price of gold surge $100 – $150 violently and in a short space of time.

Eric King:  “You always have something to say about the Fed.  Maybe today was expected but your thoughts on what’s unfolded today?”

Bill Fleckenstein:  “For those of us who feel, and with serious justification, that the Fed has no idea what it’s doing, and continually pursues bad policy and tries to bailout bad policy with more of the prior bad policy, today was no surprise…


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Bill Fleckenstein continues:  “And it really didn’t surprise the fixed income market if you look at what ’s being forecast about the Fed’s situation.

The Fed’s Endless BS
Having said that, after the Fed recently made it sound like, ‘We are going to get ready to go in June.  June’s live, July is live,’ and all this bullshit, perhaps all of the ineffectiveness of their policies and their general cluelessness may slowly turn some people’s thinking away from believing in the Fed.

Obviously there are those of us who think that the Fed is clueless and only making mistakes.  And then there is the vast majority who think they know what they are doing.  Well, somewhere in the middle there have to be some people that maybe start having some doubts.  It’s unlikely that the Fed will lose credibility instantaneously but maybe today’s decision took a little confidence away from some people about the Fed’s ability to divine the future.  How the Fed could have any credibility in the first place is beyond me, but that’s an entirely different subject and we’ve spent many hours talking about that, Eric.”

Gold And Silver Have Surprised People
Eric King:  “Bill, the metals have surprised some people.  There has been a great deal of discussion about the COT and how the commercials were seriously short and it was going to be the end of the world.  But then that didn’t unfold and gold and silver have simply consolidated.  Meanwhile, the mining shares don’t even care if gold and silver trade sideways — they just seem to want to go higher regardless.”

Bill Fleckenstein:  “The hardest thing about gold is that it’s just a price.  There are not a lot of fundamentals that you can track to try to triangulate on to ascertain what ‘s going to happen next.  It’s not like a company you follow where you can do channel checks and end-demand guestimates — things like new products, etc.

So people are stuck looking at the price, and as I’ve said before, human nature is such that most people tend to fight the last battle.  So people are tending to not trust the gold market and the miners.  And this advance from $1,200 has taken place in such a way that a lot of people have kind of been left behind because they thought there was more to go on the downside.

And the mining shares in this particular rally have alternated between acting really great and sometimes not so great.  So I think that people are looking for the market to give them a signal and it’s been easy to get fooled.  For instance, some people think that gold stocks will be in tomorrow’s Wall Street Journal and they will tell you what is going to happen in the metals complex.  I don’t believe that’s the case.  There are often times where they can give you a signal that’s valid but other times it can be a head fake.

Not A People Trade Yet
So I think the whole trading pattern has unfolded in a way that’s kept people from really sinking their teeth into the gold market and taking big positions, especially when it comes to the miners.  Meaning, I don’t think that this is really a popular trade yet.  That doesn’t mean you can’t have a small correction, but I just think the way that the advance has taken place has probably kept a lot of people on the sidelines.”

Eric King:  “Bill, I believe you are right and this advance has kept money on the sidelines.  When I look at the sentiment in gold and silver, it has been relatively tame up to this point.  Instead, it seems like everyone is waiting for the next shoe to drop in the gold market.  So if this is the classic bull market advance, how do you think it will trade in the future?”

Will Gold Violently Surge $100 – $150?
Bill Fleckenstein:  “If there was an easy road map to follow, everyone would follow it and then it wouldn’t work.  But sometimes I have a trading opinion.  I have had the idea that this advance from $1,200 would go on in a way that would keep people uncomfortable.  And then somehow at some point we would blow through $1,300 and then there would be a mad scramble higher in price.  And then gold would maybe run $100 – $150 higher in a short space of time.

I still believe that’s going to happen.  Now whether we blow through $1,300 now or we back off some, I just don’t know what’s going to screw up and confuse the most people, but whatever pattern that is, that’s probably what will happen.  So whether tonight gold is up $50 and we come in tomorrow, or the price has to chop around here for a while, I can’t say.  I just have a feeling that gold is going to go up in a way that confuses and screws the most people possible.”

***KWN released an absolutely jaw-dropping interview discussing the gold and silver markets with the man who advises the most prominent sovereign wealth funds, pension funds, hedge funds, and institutional funds in the world and he discusses the gold and silver markets, coming chaos and much more! To listen CLICK HERE OR ON THE IMAGE BELOW.

***Also just released: Gerald Celente – The Next 8 Days May Change The World Forever CLICK HERE.

KWN Belkin mp3 6:8:2016

***To hear what John Embry is doing with his own money right now as well as more about the coming plunge in the stock markets, surge in the price of gold, silver, and the shares, CLICK HERE OR ON THE IMAGE BELOW.

KWN Embry mp3 6:12:2016

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