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Leeb:  “In Europe, despite Merkel’s overwhelming victory, she still has to bring together a coalition.  There are great concerns inside Germany about how much money Germany has lent out in order to support the weaker economies.  Also, there is concern about what the long-term effects of that lending will be.


So, the prognosis for the euro is not particularly good....


Continue reading the Stephen Leeb interview below...




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“Another problem the world is facing is the declining oil production in the Middle East.  US oil production has increased, but it hasn’t been able to make up for the falling production in the Middle East.  There are also great concerns in the US about what is going to happen to the federal government because of the debt ceiling situation. 


We also have a rudderless Fed in the US because no one knows for sure who is going to be the next Fed chairman.  So, why isn’t gold rallying at this point?  It’s because it is temporarily being shackled by desperate Western governments, but the reality is that gold is going to be the best performing long-term asset in the future.  Also, right now there are oceans of liquidity out there and at the moment money is chasing stocks.


But the current situation will give way to trends that are not favorable.  I find it very hard for the world to sustain the very slow growth it is currently experiencing.  In fact, I don’t think it can.  The question is, what is going to be the next shoe to drop?  There are lots of candidates.  Nothing has changed, it’s just that the problems have temporarily moved into the background.


Hard asset investors just have to be patient with their positions and that means staying with gold and silver.  I see a lot of catalysts on the horizon that will dramatically increase the metals prices -- whether it’s the Middle East, Europe, or America, things are not going to stay the way they are.  They are precariously balanced and it will tip one way or the other and this will cause a surge in precious metals.


But people really need to be prepared because there are black swans out there and they could occur at any time.  When they occur you are going to see huge changes in major markets.  Right now this is like the calm before the storm.  That is how I would characterize the world today.


So we are just waiting for the storm because we know it’s coming and it’s just a question of how much damage will be done? During the coming carnage gold and silver are going to be your best performing assets.  Gold and silver are going to become the ‘must own’ assets as the turmoil unfolds.


We now have a stock market that is up 140% since 2009, and you have real incomes in the US which are down during that same period of time.  This is a catastrophe waiting to happen.  This chasm between what’s going on in the financial markets and what’s going on in the real world economy is a meltdown waiting to happen.  So this is just the calm before the storm as world heads into another disastrous 2008-type of event.”


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The audio interviews with Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott, Andrew Maguire, Grant Williams, Bill Fleckenstein, Pierre Lassonde, Art Cashin, Egon von Greyerz and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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