With gold and silver giving back some of the recent gains off of the lows, today acclaimed money manager Stephen Leeb spoke with King World News about what may really ignite gold and silver to the upside. Leeb also said investors should be aggressively buying silver right now. Below is what Leeb had to say in his interview.
Leeb: “This is not going to end in a happy Goldilocks scenario, I can promise you that. This is going to end in some sort of hideous depression, and who knows what it’s going to do to our society and our civilization.
A depression is a very tough thing to survive. Or it’s going to end, and believe me I hate inflation, but that is the lesser of two evils, that’s what we are headed for….
“There is a party in Germany, the Anti-Euro Party. If you want an incident that would trigger an explosion in gold, and really trigger the next leg in this historic bull market in gold, it would be Germany rejecting the euro.
So this is going to continue, Eric, and eventually it’s going to reach a point of inflection. Getting back to gold (and silver), they’ve had big runs (off the recent lows), and you are always going to get setbacks. It would not even surprise me if you came close to testing the lows. This is just technical action.