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Stephen Leeb continues:


“There are simply too many things working in favor of gold at this point.  Gold production really hasn’t increased since 2001.  That’s unheard of given the fact that during that time period gold has increased more than six fold in price.  You have actually had a decline in gold production over that period as well.


If six fold increases in price can’t bring on more production, you are in trouble.  With peak gold production, there is also evidence that other metals are following the same path, in particular copper and silver.  There have been massive increases in price in both of these metals in the past decade, but you’ve had very little increase in production.


What we have seen is a combination of factors that has been holding things back in terms of price and they are not going to hold things back for much longer....


Continue reading the KWN Stephen Leeb interview below...  




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“What about oil?  The good stuff, the easy to cultivate oil probably peaked several years ago.  We have seen oil go from $20 to near $110 today and it hasn’t increased production.  We have a big problem going forward in terms of procuring inexpensive oil.


Another key point is China is in the throes of a leadership change and they have had to throttle down growth a little bit.  That being said, China is now on the verge of easing policy.  That should spark things again, especially in those very scarce metals like copper and silver.


Also, when you talk about peak oil you have to discuss the need for new and renewable energies.  This means more consumption of copper, silver and rare earths.  What happened to the rare earth discussion?  If you don’t have enough rare earths, you have problems supplying materials to the military, not to mention wind turbines and car manufacturing.


The bottom line is I see a lot of uncertainty right now that will eventually pass.  With every downtick in the Chinese economy comes a greater probability they will ramp things up again.  The last thing they need is a hard landing.  I don’t think there will be a hard landing for China, so I believe you will see a significant mover higher in these key commodities.  


This will translate into a very big move in gold.  You have to remember that no one blows a horn before markets take off.  You go back to bottoms like 1982 in stocks and the 2009 bottom.  Who would have thought the Dow would have doubled in a few years off the 2009 low? 


In 1982 the stock market was just wobbling around, not going anywhere.  All of the sudden there was a dramatic breakout and we were off to the races.  I think we are about to see the same type of thing in gold and silver.  These markets are going to explode, gold, silver, copper and many of the base metals are simply going to explode.”


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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