Market prophet Gary Shilling predicts stocks and cryptocurrencies will crash, blasts the Fed, and warns against speculating in a new interview. Here are the 10 best quotes.

Market prophet Gary Shilling predicts stocks and cryptocurrencies will crash, blasts the Fed, and warns against speculating in a new interview. Here are the 10 best quotes.

Gary Shilling. Screenshot via Bloomberg TV

Gary Shilling warned of rampant speculation in stocks and cryptocurrencies, and predicted a painful end for those involved, in a RealVision interview released this week.

The president of A. Gary Shilling & Co - who has called several previous crashes - also accused the Federal Reserve and Treasury of pumping up asset prices, dismissed fears of higher inflation, and urged investors to resist joining the buying frenzy.

Here are Shilling's 10 best quotes, lightly edited and condensed for clarity:

1. "The consensus view is that the economy is going to open very rapidly, inflation is going to come roaring back, and interest rates are going through the roof. That is way overdone. We are in a low-inflation, if not deflationary era." - highlighting that China and other countries produce more than they consume, fueling a global supply glut that depresses prices.

2. "The money pumped out by the Fed and all the fiscal stimulus hasn't gone into spending, it's gone into savings and asset inflation. It's really responsible for things like dogecoin and bitcoin and other cryptocurrencies, and all these speculations. It's pushed stocks to unbelievable highs in relation to earnings, in relation to anything else, and made them