Leeb:  “Right now we have gold and silver moving higher along with commodities.  Usually I don’t spend time on geopolitical issues, but I want to cover this topic very briefly.  Most of the time geopolitical issues are non-starters, but there are situations where you can really see things getting out of control....

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“What is happening in the Ukraine right now is not good.  The Ukraine needs something like $30 billion and very stringent economic controls.  For the West to really put a deal together with the Ukraine and form a united bloc against Russia, I just don’t see it happening for monetary reasons.

That leaves Russia in the catbird’s seat.  This has people in the West greatly concerned.  The US has an army that is set to fall to about 440,000 troops.  Well, Russia has a million troops and China has 2.3 million.  You also have to remember that aircraft carriers are not the answer to the West’s problems in the Ukraine.  So the West is at a great disadvantage here.  Also, Russian gas is also very important, which makes this situation even more tricky.

When it comes to writing a check to help the Ukraine, the West is not in a position to give serious aid.  The West is busy trying to work out its own economic problems.  The other problem is that the US has maintained the world’s reserve currency because it had the world’s strongest military, but that may now be coming to an end.

So it is not a pretty picture for the West at this point, particularly for the US.  Also, Russia has signed treaties with China.  So we see a bond forming between Russia and China.  All this has me worried about the kind of world we are going to be living in in the future.


I am also worried Germany may throw in its lot with Russia.  There is a closeness between Putin and Merkel and I think the Ukrainian situation may now be bringing things to a head.  So there is a lot of room for surprises here. 

There are so many scenarios where the world could change overnight.  What if the Saudis decide to price their oil in a basket of currencies, instead of the dollar?  This would radically change things overnight.  The US would see massive inflation in that scenario.

When I look at all these problems developing around the world, I can’t tell you the price of gold will go straight up from here, but it’s going to go a lot higher over time.  The world is going to be needing another reserve currency because the US is no longer going to be able to singlehandedly monitor the world. 

Sadly, I think it’s going to end in tears for this country.  The US is at a disadvantage, and one of the pillars that has allowed the US to retain the world’s reserve currency is now falling.  This means the world is in a very fragile state and anything could happen overnight.  As the world moves toward another alternative to the dollar, I think this will only increase the instability. 

Through all of this turmoil gold will resume its place as the top currency in the world.  But most importantly, as the dollar falls, investors must have physical gold and silver in their portfolios to preserve their purchasing power of their assets.”

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