Bill Fleckenstein:
"I think the central banks (ECB, Fed; Maximiliaan67) of the world, and in particular the Fed, are close to where they are going to panic and do something big ... If we get some serious stock market weakness, on top of the economic deterioration, then I think the Fed would panic right then.”

Fleckenstein also added: “What I am salivating over is the chance to really press my gold position. I think the next leg is going to be really, really powerful. When I sense that the Fed is going to pull the trigger, I’m going to make my gold investments a lot more aggressive than they are right now ...The American people are going to realize at some point they need to own gold.

The Fed’s track record is absolutely spectacular at one thing and that is destroying the value of the dollar. And when the Americans start stampeding in, on top of the other people, and everybody finally gets the joke, which they are all going to get before this era of central bank money printing is ended, their is going to be the big, unridable phase of the bull market in gold that’s going to take place. That’s in front of us. It’s probably closer than most people think.”