Leeb - Silver to Break $100 This Year & Gold Bull on the Move
With gold and silver off to an incredibly strong start for 2012, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb surprised KWN by predicting that silver will hit $100 this year. But first, here is what Leeb had to say about Bill Fleckenstein’s comments on KWN earlier today about the public coming into the gold market: “I think (Bill) Fleckenstein is totally correct. The kind of environment he’s talking about is the one I alluded to a little bit earlier, namely the 1970s, where we did have this kind of stagflation. In the mid 70s we had very high inflation, a recession, etc., yeah, that’s exactly the kind of environment we are headed for.”
Stephen Leeb continues:
“The implications are that gold, if you look at the 70s, could easily go up eight fold from here. That’s where you get your targets in excess of $10,000. That’s what the 70s say to us. That’s what I believe Fleckenstein’s analogy best refers to, namely the 1970s stagflation. The results of that kind of environment are dramatically higher gold prices.
The driving force right now has been and will continue to be commodities. Anyone looking at this is going to say, my gosh, gasoline prices are up, food prices are up. I can’t stock up on food or gasoline and sooner or later it is going to dawn on people they need to buy gold and silver. When you see that happen you will see a whole new source of massive demand.
Where else can people turn? The stock market is down over the past decade....
Continue reading the Stephen Leeb interview
Stephen Leeb continues:
“The implications are that gold, if you look at the 70s, could easily go up eight fold from here. That’s where you get your targets in excess of $10,000. That’s what the 70s say to us. That’s what I believe Fleckenstein’s analogy best refers to, namely the 1970s stagflation. The results of that kind of environment are dramatically higher gold prices.
The driving force right now has been and will continue to be commodities. Anyone looking at this is going to say, my gosh, gasoline prices are up, food prices are up. I can’t stock up on food or gasoline and sooner or later it is going to dawn on people they need to buy gold and silver. When you see that happen you will see a whole new source of massive demand.
Where else can people turn? The stock market is down over the past decade....
Continue reading the Stephen Leeb interview
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