Today an acclaimed money manager spoke with King World News about the stunning reason why the price of silver is set to skyrocket, and what he had to say will shock KWN readers around the world. Stephen Leeb also discussed what this means for investors who are positioned in physical silver and the companies that mine silver.
Leeb: “Most people watching the metals focus on gold, including myself, but silver is a fascinating metal. Silver has probably been used as a currency for longer than gold has, but it also has industrial uses. It’s the industrial uses that I started focusing on again, and if anything the case for silver has grown stronger….
Continue reading the Stephen Leeb interview below…
“China is working on its very serious pollution problem. To tackle this problem one of the things China is implementing is the increased use of silver photovoltaics. What this means is that by 2017 demand for silver in photovoltaics alone will represent at least a staggering 18 percent of all silver demand.
But this is where it gets interesting. The I.E.A., which is the International Energy Agency, likes oil. But even the I.E.A. said that the need for silver is going to be for 4 terawatts by 2050. Well, Eric, one terawatt represents 1,000 gigawatts. So we are talking about a remarkable 4,000 gigawatts.
What this means is that on a yearly basis the world is going to have to triple its silver consumption for photovoltaics. This also means is that if the world stays on this course that the I.E.A. has mapped out, by 2017 photovoltaic demand could represent an astonishing 50 percent of all silver demand. And by the end of this decade photovoltaic demand would be close to 100 percent.
If you take these numbers from the I.E.A. and extrapolate them, what they are saying is that the global demand for silver is eventually going to be 3-times the entire global reserves. The problem is that there isn’t enough silver in the ground to supply the coming demand. And keep in mind that this doesn’t include investment demand or any of the myriad of other industrial uses for silver.
What this means is that the price of silver and the price of companies that mine silver are headed into the stratosphere in the coming years. I can’t tell you that silver can’t go a bit lower, but I can tell you that 3 – 5 years from now the price of silver will be trading well over $100. We are headed into a ‘Brave New World,’ so investors must own physical silver and the companies that mine silver right now, ahead of the coming mania.”
IMPORTANT – KWN has many more interviews being released today.
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