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Lassonde:  “What could precipitate a major sentiment change in the gold market and a significant revaluation of gold is if we were to see a default in Europe, whether it’s Greece, Spain, or another EU member.  I think you will see defaults....


Continue reading the Pierre Lassonde interview below...




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“I don’t believe that Greece will ever be able to repay its debt.  I don’t believe that Portugal or Italy will be able to repay their debts, and France is on the same path. 


So when we have a major catastrophe in Europe, all of the sudden you will have one of those seminal events where people say, ‘We are going to see a euro breakup, I would rather own gold.’  We could see that situation literally take place overnight.


The reason I am saying this is investors can try to be ‘cute’ and think, ‘The bottom is going to be next year, so I’m not going to get into gold yet.  But by investors trying to bottom-fish, they can miss the whole upside move in gold really easily because you don’t know when these disasters are going to happen.


When I look at the gold price today, and I see you could have $75 on the downside, and possibly a $1,000 upside, well, I would tell people you don’t play for the last dollar.   You better be invested here rather than on the sidelines, that’s my view.”


Lassonde added:  “In terms of the gold shares I have never seen them so cheap.  The industry is going through a massive rationalization as we speak.  Companies are pruning the waste and greatly increasing their efficiencies.  I strongly believe that in 2014 you are going to see surprisingly strong results.  So when I see Barrick Gold trading below US $16, and New Gold trading below US $5, I never thought we would see these kinds of equity prices.


I believe the current prices for high quality mining shares are a gift and this is the kind of thing you see toward year-end as a lot of portfolio managers are jettisoning these underperforming stocks and it is creating incredible opportunity in this space.  These prices are a Christmas gift given to the people who are going to buy these high quality companies at these prices.”


© 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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.


IMPORTANT - Due to recent events, KWN will be releasing interviews all day today.


The audio interviews with Grant Williams, Egon von Greyerz, Dr. Paul Craig Roberts, William Kaye, Michael Pento, Andrew Maguire, Gerald Celente, David Stockman, Art Cashin, John Hathaway, James Turk and Jim Grant are available now. Other recent KWN interviews include Marc Faber and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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