Posts Tagged Stephen Leeb

Gold & Why We Are Facing A Real Catastrophe Going Forward

via: KingWorldNews
August 2, 2012

Today Stephen Leeb, who is Chairman of Leeb Capital Management, spoke with King World News about the dreadful warning legendary value investor Jeremy Grantham’s recently issued:  “This is a guy that has come to the view of resource shortages over the last 2 or 3 years.  He’s becoming much more vehement about it, saying we could have real catastrophes in the food market, in water, etc., and energy could be right behind.”

The acclaimed money manager also discussed gold, but first, when asked about the dire situation the ECB faces, Leeb responded, “They’ve got to start buying bonds, period.  It’s very simple, Spain cannot survive with bond yields over 7%.  I doubt they can survive with bond yields much over 5%, when you’ve got no growth and 25% unemployment.”

Stephen Leeb continues:

“25% unemployment is the kind of unemployment we had during the (Great) Depression.  It surprised me (that the ECB did not take significant action), and it makes me think, what is going on behind the scenes?  My guess is we are putting tremendous pressure on Germany.

Every other country in Europe, including Great Britain, is ready to ease and buy bonds….

Continue Reading At: KingWorldNews.com

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It Is Absolutely Shocking How Much Gold China is Acquiring

via: KingWorldNews
July 24, 2012

Today Stephen Leeb told King World News, “… there is a controlled desperation in China when it comes to acquiring gold.”  Leeb, who is Chairman of Leeb Capital Management, also said, “They are acquiring as much as they possibly can without tilting the markets dramatically to the upside.”

The acclaimed money manager also stated, “China mined a total of 355 tons, which was by far the largest amount of gold mined for any country.  And yet they are still buying every single available ounce they can get in the open market.”  Leeb was also quick to point out the strength gold is displaying, “Today we have global stock markets under significant pressure, the US dollar breaking out on the upside, and yet gold is holding firm.”

Here is what Leeb had to say about what is happening with Europe, the Chinese and gold:  “Europe is a mess and sooner or later the Europeans are going to have to come to grips with the dire situation they face.  Yesterday, Moody’s put the three AAA countries on credit watch, Germany, Luxembourg, and the Netherlands.”

Stephen Leeb continues:

“Unless the European bank is willing to print money in order to start buying the debt of the failing countries, you are going to have a catastrophe.  The patchwork schemes they have been using are not going to get the job done.  Right now, Eric, as we look at the European crisis, it’s worse now than it has ever been.

5-Year Spanish bond yields are now trading at 7.6%.  That’s an extraordinary number, and it really says Spain cannot finance anything….

Continue Reading At: KingWorldNews.com

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