Today acclaimed money manager Stephen Leeb told King World News this is going to be the year in which the Chinese really begin to let gold and silver prices fly. He also believes that when the Chinese eventually have gold underlying their currency the game is over. Here is what Leeb had to say: “I believe that gold, silver, gold stocks, and silver stocks especially, because they are so scarce, are an exceptionally good place to be. The only way individuals can protect themselves at this point is through purchases of precious metals.
“What more could you want than a quote from the Finance Minister of Japan, Taro Aso, ‘Foreign countries have no right to lecture us ... The US should have a stronger dollar.’ And he questions whether a major group of 20 nations have stuck to pledges from 2009, to avoid competitive currency devaluations.
Of course they haven’t stuck to those pledges. We can’t get our currency low enough....
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It will be interesting if they do. I'm not so sure, but Leeb is certainly better positioned than I am. The question is, which central bank is best positioned with the greatest quantity of the stuff?