2015 is the year the global debt delusion implodes, says capital investment guruA capital investment expert who chose to shutter his short-only hedge fund during the depths of the Great Recession of 2008-09 has warned in a recent interview that 2015 is likely the year in which the U.S. dollar takes a steep decline. In his interview with King World News, Bill Fleckenstein, president of Fleckenstein Capital, also warned that the dollar “is an Internet stock that’s on borrowed time.” “People are going to lose confidence in the central banks and there is going to be an ugly dislocation when that happens,” he continued. “Will they come back for another round (of money printing)? I’m sure the Fed will come with QE [quantitative easing] again when it turns out this one doesn’t work.” Continuing, he said that, at the moment, there are people who believe in “the fantasy of central banks delivering economic Nirvana,” and that they are capable of keeping financial markets elevated indefinitely, as well as “those of us who say that this is going to end in disaster…” Fleckenstein said that, once financial sectors begin to tumble, the market won’t be far behind, and momentum towards a crash will build. And he says the time is coming — soon.  “But I think it (disaster) will (start to unfold) pretty soon because the dominos that are going to fall from the oil patch will mean credit problems in fixed income markets, be it government or fracking, exploration or drillers — anyone who used too much debt because they thought it was so cheap and ridiculous and nothing could go wrong,” he said. Oil prices are, at present, lower than they have been in years, largely due to a glut on the global market triggered by unprecedented growth in the U.S. energy sector. “I think there are going to be a lot of dominos that will cascade on the back of that,” Fleckenstein told King World News. “The reason I alluded (earlier) to how fast oil broke (to the downside) was because that shows you in this environment that we live in, especially with algorithmic and computerized trading — how quickly you could have a rout in the stock market. In the space of virtually no time you could see stocks drop 25 or 30 percent. I know the whole thing is a fantasy.” More