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Leeb:  “The big news yesterday was the new environmental initiative.  It speaks volumes about where the United States is and where it is headed.  Basically it's a non-binding resolution that asks the states individually or in regions to cut down emissions.  There is no necessity for using alternative energies -- hydrocarbons can still be the guts of the system....


Continue reading the Stephen Leeb interview below...




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“There is nothing in the program to build a more modern electric grid.  But without a modern grid, or what is termed a ‘smart grid,’ there is no chance of saving significant amounts of energy or hydrocarbons.  All of this comes in the wake of a 60 percent downgrade in available shale oil in the United States.  This country is relying on shale oil but we have no idea how much there is.


We have no way of integrating energy systems across states.  We are basically just hoping right now.  I hate to say this because I love this country.  Compare what we are doing with what China is doing.  China has put up as much of a modern 'smart grid' as the United States has in its total grid.  China is crushing the United States in smart grid technology.


As I told you last week, when the French company was contracted to put up a new plant that would supply 7 percent of British electricity -- a massive plant -- the French company had to turn to China ask for help because they were not capable of doing it on their own.  They did not choose the United States -- they chose the Chinese.


The United States is falling so far behind.  The consequences of this are horrific.  Also, if you take a look at history, you will see that all the debt in this country started to rise, almost to the day, when the U.S. went off the gold standard.  We have to get our act together in this country and yet we are just not doing it.


So I cannot stress enough how important it is to have something other than U.S. dollars in your investment portfolio.  Gold is the first thing that comes to mind, and silver as well.  You just have to have them in your portfolio.  I become more and more emphatic every day as I read more and more about what this country is doing.


This is really serious what is happening to this country.  The United States is not the kind of country it was 20 to 25 years ago when we had the freedom to do anything we wanted.  This is a country that built an interstate highway system and put a man on the moon, but it seems like we haven't done a thing since then.  Now it's time to start innovating in these key areas or it's going to be too late.


In the meantime, I repeat: investors have to own gold and gold related investments in their portfolio.  It's been a tough few years for these investments but that is coming to an end now and people are about to see things reverse.  Gold, silver, and the mining shares are going to have monster gains in coming years as the precious metals begin to launch the next bullish wave in their secular bull market.”


IMPORTANT - KWN has many more interviews being released today.


© 2014 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.


The audio interviews with Bill Fleckenstein, MEP Nigel Farage, Michael Pento, Dr. Paul Craig Roberts, Gerald Celente, John Mauldin, Eric Sprott, James Dines, Andrew Maguire, David Stockman, Art Cashin and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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