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Stephen Leeb continues:


“You could probably get away with that if there were not an alternative currency out there but there is and it’s called gold.  People are scared to death and whoever is saying that in the United States is scared to death that people will pick up on gold as an alternative currency.


They are also probably scared that China is buying so much gold.  So when you hear these kinds of comments coming out it tells me that somebody is really worried.  But clearly those kinds of comments speak of some kind of desperation, that’s how I see it.”


When asked what he is focused on in the gold market, Leeb responded, “Clearly Berananke still has his foot on the accelerator, I think the overall outlook is very, very good for gold.  Clearly with China buying a lot of gold, the outlook for gold is very good, especially given there is very little incremental supply of gold (available for sale).  Gold paused because of Europe.  No one knows which way Europe is going....


Continue reading the Stephen Leeb interview below...  




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“Everything has stopped in front of Greece.  What are they going to do?  We really don’t know yet.  Now a couple of scenarios emerge.  They are ‘when’ scenarios.  It’s ‘when’ will gold  go up dramatically, not whether it will go up dramatically.  


(One scenario) If something goes awry in Europe, that could easily lead to a sharp and very big selloff in gold, just as was the case in 2008.  People sold gold because they needed liquidity.  Gold went down sharply and then it just zoomed (higher).  It was like a rocket ship on the way back.


If it happens it will be temporary and you should buy all you can possibly buy because if you think we are flooding the world with money now, wait until you see what happens if Europe really starts teetering.  They will literally, as Bernanke once said, they will be dropping it (money) from helicopters.


I think gold is setting up for a big move.  No deflationary hiccup, which is basically what I would guess is going to happen.  They will work things out in Greece.  It’s not 100% certainly, but I would place the odds somewhere between 80% and 90%.  In that case, I think it’s all clear for gold.  


You may get a little volatility but then gold is off to the races.  You’ve got our Fed ready to hit the accelerator again.  The Europeans know they have to get things going.  China is getting ready to ease.  China is buying more gold and the available gold (for sale) is shrinking.  So you don’t have to be a genius to say gold is going to go a lot higher.”


The KWN interview with Stephen Leeb is available now and you can listen to it by CLICKING HERE. 


Dr. Stephen Leeb: Chairman & Chief Investment Officer of Leeb Capital Management and the

author of “Red Alert: How China's Growing Prosperity Threatens the American Way of Life”

Just released, to order from Amazon CLICK HERE.



© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

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