Leeb:  “Eric, it’s hard not to be focused on the geopolitical situation.  Everywhere you look you see turmoil in the world.  This situation where Russia is massing troops on the border of Ukraine is bad enough, but what makes it worse is how helpless the West is....

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“The West really has no control over this, and over the long-term I think this scenario will end very badly for the West.  As I said to you in our last interview, Russia has massive energy resources and they are now going to start directing those resources toward China. 

There is no doubt that this is how the Russians will respond, and so Europe is going to be stuck.  There is also no doubt that China holds a lot of sway in the Middle East.  So Russia will now begin asserting itself more and more into the affairs of the Middle East.  As an example, they may begin asserting themselves more into the affairs of Iran and Saudi Arabia.

The bottom line is this is a world in the throes of enormous change.  This is the kind of change the world only sees every few hundred years.  This has to do with the flows of things like gold, commodities, geopolitical power, and economic power, but tragically it’s a change in power that’s going from the West to the East.

So we are now in the middle innings of a historic transition from West to East, and as this shift in power continues, the best way for investors to protect themselves is by owning gold.  Owners of gold have had a rough ride for the past couple of years, but gold is going dramatically and decidedly higher in the long run.”

Leeb had this to say regarding silver: “I am very surprised to see silver at $20.  I would have expected silver to be closer to $30 by now if it were not manipulated, especially given the incredible demand for photovoltaics.  This will be a huge driver for the price of silver going forward. 

Current events have turned me into someone who believes in conspiracies.  There is no question that the silver market is being manipulated, but one of these days the price of silver is going to explode higher.  We are seeing the price of copper back above $3 again, and China is getting ready to ramp up their energy infrastructure spending.  This will entail spending of well over $1 trillion over the next several years.

All of this means higher prices for commodities in the future, but especially for silver.  However, people should understand that gold is going to be part of a basket that defines the new world reserve currency.  This means that gold will be revalued significantly higher.  So when investors see pullbacks in gold like the one we have just witnessed, they should simply use that weakness for long-term accumulation of gold because that is what is going to preserve or even enhance their purchasing power over the long haul.”

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