On the heels of the recent volatility in the gold and silver markets, today legend Pierre Lassonde spoke with King World News about when he believes the gold market is going to get Tina Turner legs and start dancing.

Lassonde is arguably the greatest company builder in the history of the mining sector.  He is past president of Newmont Mining, former chairman of the World Gold Council and current chairman of Franco Nevada.  Lassonde is one of the wealthiest, most respected individuals in the gold world, and as always King World News would like to thank him for sharing his wisdom with our global readers during this critical period in these markets.

King World News - BREAKING- Legend Pierre Lassonde Says Price Of Gold To Explode Because Of China's Gold ExchangeLegend Pierre Lassonde predicted when gold will get Tina Turner legs and start dancing

Very Difficult Years
May 9 (King World News) – 
Eric King:  “Pierre, what are your thoughts on how the gold market has been acting?”

Pierre Lassonde:  “I would say it’s very much like the 1999, 2000, 2001 market when the gold price was around $250 and the tech sector was on fire.  Everyone was going into tech and gold was dead.  In fact, I think it was Forbes that came out with a cover in 2001 saying gold was dead.  That cover was the absolute bottom of the gold market at that point in time.  But in those days the public was absent and there was essentially no bid.  It was a very difficult three years.

We’ve had both deflation and inflation but we don’t see it.  But all the money the US Treasury has issued is sitting on the banks’ balance sheets and the Treasury’s balance sheet and it’s not getting to the public.  At some point when we have a recession, the central banks don’t have any bullets left in their gun.  Interest rates are already very low.  In Europe they are negative.  What are they going to do?  The only thing left is to print money and pay your employees with newly pressed paper.  And believe me inflation is going to come back at that point in time.

Just look at the US.  The current budget deficit is $1.4 trillion and that’s when the economy is doing well.  Imagine when we hit the next recession.  Where do you think that deficit is going to go to, $2 trillion?  Who is going to finance that?  It’s absolutely unbelievable, Eric.  Unbelievable.”

Eric King:  “Pierre, I know that’s been one of the things that has surprised you is the US dollar strength in the face of what you just described.”

Pierre Lassonde:  “The problem is that there is no other currency that you can bank on.  But when the main player — the US — starts to have a $2 trillion deficit and they have an economy that is wobbly, there are going to be a lot of questions about what the US will do and that’s when I think gold is going to get Tina Turner legs and it’s going to…KWN has now released the powerful audio interview with legend Pierre Lassonde and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.

***Also just released: Gerald Celente – Trade Wars, Cheap Money And Gold CLICK HERE TO READ.

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