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Stephen Leeb continues:


“Now, all of the sudden yesterday’s report on manufacturing and today, this is a standout negative surprise.  This is exactly what Bernanke has been saying, that this economy is not growing enough to generate jobs and reduce unemployment.  The reason gold got a bid this morning is because this 388,000 (number) brought us much closer to QE3. 


You cannot sustain the US economy with 8%, 8.5% unemployment.  And we’re getting suggestions right now that we may have seen the best of the good news.  That’s bad news for the people out there, but it is pretty good news for gold....


Continue reading the Stephen Leeb interview below...




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“QE3 seems to be an 80% probability within the next three or four months.  It may even be 90%, given that there is an election out there.  I certainly don’t see any reason not to be in gold at this point.  Long-term the case is so powerful.


Gold and some of these junior gold miners, in a few years you’re not going to believe what a gift you have here.  I’m going to stay with my gold.  If there is another break (in price), most everything I have will go into gold and perhaps some of those junior gold miners where you are really going to get a big, big boost.”


When asked about the IMF’s recent statements, Leeb replied, “This is important because the euro is not going to last.  There is no way you are going to have a currency which can be used by Spain, Germany and Greece.  It’s a catastrophe. 


There’s no way you can have a single currency.  How can you have a currency governing people working twenty hours a week, and also people that work fifty hours a week?  People that produce manufactured goods, versus people that live for tourism?


The unemployment rate in Spain is 25%, and in Germany it’s low single digits.  It doesn’t make any sense.  Sooner or later something is going to break.”


This was an incredibly powerful interview with Leeb.  In less than ten minutes, he covered Europe, Asia, oil, gold, mining shares, central planners, their policies and what KWN listeners should look for going forward.   The KWN Stephen Leeb interview will 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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