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Stephen Leeb continues:


“That’s a big deal, Eric.  That’s the big takeaway from the last couple of months.  Europe, they are going to be creating a great deal of money.  The implications for precious metals, gold, etc., are very, very positive.  They’ve printed a ton of euros already, but guess what?  The euro today, at 1.29, is higher by about 5% vs its average since the beginning of the century.


This is with Europe experiencing tremendous problems.  Now what does that say about the US dollar?  It says that it’s a terrible currency....


Continue reading the Stephen Leeb interview below...




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“If our currency is underperforming the euro, it means there aren’t any other (paper) currencies you can turn to.  And if there are no paper currencies you can turn to, you have to turn to gold.


I don’t know if gold is going to shoot up to $2,000 in the next month, but I know that the direction over the next several years is going to be dramatically higher.  The bottom line here is that the dollar has underperformed the euro, even with all of the problems Europe faces, and that does not bode well for the future.


There are very serious reasons why the dollar has underperformed.  Data released today showed that median incomes in the US have fallen about 10%, and median income for the middle class have probably fallen by about 12% to 13%.  Almost 50 million people in the US are now on food stamps. 


So the Fed is forced to print more money, and the more they print, the stronger the case for the precious metals becomes.  Also, I keep bringing up the junior gold shares, but I believe they have already started what will be one of the greatest, if no the greatest bull market of our lifetimes.  I also think silver is easily going to $150.


Circling back to Europe, their money printing is only going to accelerate.  So you will start to see higher commodity prices impacting overall inflation rates.  As that begins to unfold, you will really see the bull markets in the gold and silver bull markets accelerate.


Investors should ask themselves, how much do I have to invest in gold, silver, and the quality junior gold and silver shares, so that I can cover up all of the other investment mistakes I might make?  And to make sure I have plenty left over if inflation does go to 10% or 15% per year.  That is the question all investors should pose to themselves at this point.”


Leeb also added: “There is no doubt that the Fed is going to print hundreds of billions of additional dollars.  A hundred billion dollars here and there and before you know it you have $1 trillion.  They will have created multiple trillions of dollars and it won’t stop.  And Investors should understand that it’s going to continue.”


© 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.


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.



The interviews with Rob Arnott, Michael Pento, Gerald Celente, James Dines, Marc Faber, James Turk and Art Cashin are available now.  Also, be sure to listen to last week’s line-up of other KWN interviews which included Egon von Greyerz, Sean Boyd, John Hathaway, Eric Sprott and Jean-Marie Eveillard by CLICKING HERE.


Eric King

KingWorldNews.com

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