kingworldnews.com / by Eric King / June 18, 2012
Today acclaimed money manager Stephen Leeb, told KWN, “the world is rapidly heading toward what you would call a ‘de facto’ gold standard,” and that we will see “shortages of silver over the next 5 to 10 years, massive shortages.” Leeb, who is Chairman & Chief Investment Officer of Leeb Capital Management, also told King World News that investors are now “looking toward what I believe is going to be the greatest bull market of our lifetime — the one in junior miners.” But first, here is what Leeb had to say about the situation in Europe: “For a few hours after the Greek results were announced, investors were breathing a sigh of relief. Initially we saw a big uptick in stocks, commodities, but gold was trading lower. Then investors realized the elections didn’t mean a whole lot.”
Stephen Leeb continues:
“At that point you saw gold recover some, while stocks gave up the overnight enthusiasm they enjoyed in the futures markets. At the end of the day, Europe is a mess, and it is still up to the Europeans to decide what to do to get out of this situation.
The strongest evidence of the continued chaos in Europe is a chart of the Spanish bond yields. Spanish bond yields are now approaching 8%. That’s a crazy number….
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