With gold and silver rebounding, today acclaimed money manager Stephen Leeb told King World News that silver is now setting up to eclipse $100. Leeb believes that China, which has been the primary driver in the gold market, is now going to push the silver price over $100 as their consumption of physical silver is poised to skyrocket. Here is what Leeb had to say in this powerful and exclusive interview.
Leeb: “We are seeing massive demand for photovoltaics out of both Japan and China. We are also continuing to see massive demand for silver in the Middle-East for this type of energy infrastructure as well. Eric, KWN readers need to understand that the demand for silver is literally set to explode because of the enormous increases in demand for physical silver because of photovoltaics….
“While all of this is happening, the mainstream media is saying that China is about ready to fall apart. But the reality is that China plans to urbanize a remarkable 200 million people over the next 10 to 15 years. Well, the cost is roughly $50,000 per person. So China is going to be spending a massive amount of money for materials — copper, lead, zinc and especially silver.