Leeb:  “I have told you on numerous occasions that I believe gold is headed over $10,000 an ounce.  But I want to talk about silver for a moment.  The industrial uses for silver are continuing to increase, particularly in the use of photovoltaics....

Continue reading the Stephen Leeb interview below...


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“Furthermore, most of the silver that we have in this world comes from lead, zinc, copper and gold.  If you look at silver’s performance relative to these other metals it has been much worse over the past several years.  The price of silver hasn’t really done anything, but yet the demand for silver is much, much higher.  So something strange is going on in the silver market, Eric.  Someone is manipulating the price of silver, but who in the hell is doing it?

But I think silver under $20 is a major buy.  The price just doesn’t make sense.  I know there is a tremendous amount of demand, but where is the supply coming from?  There is enormous demand from China for silver, and from all of the global mints for investment.  Again, where is this silver coming from?

Also, I have reason to believe that the Chinese are stockpiling silver for their future infrastructure needs.  So I am not normally a conspiracy theorist, but something strange is going on in the silver market.  But I think whoever is manipulating the price of silver is not going to be able to hold it down for much longer.

If anything, all of the recent global turmoil is sending a signal to the Chinese to speed up their accumulation of these strategic resources.  Remember, next to oil, silver is the most vital and strategic resource in the world.  So we have this massive demand for silver from the Chinese, and we also have the monetary aspects of silver which will help turbo-change the price in the future.

The bottom line is the price of silver should be much, much higher than it is today.  So I think you have a rare opportunity to buy silver at these extremely depressed prices.  Silver is going to trade in the triple-digits before this is over.  It will eventually be priced in the hundreds of dollars an ounce -- so under $20 is a steal.

By the time the world figures out there is a genuine silver shortage there will be very little left.  When you put a monetary premium on top of a coming worldwide shortage, the silver market is an explosion to the upside waiting to happen.”

Leeb added:  “Ultimately this country needs discipline and the only way we are ever going to have it is if gold is part of our reserve currency.  Silver will dramatically outperform, but the hope for global and financial discipline is going to come from gold.”

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