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Stephen Leeb - Silver Should Be $150 Today
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/26_Stephen_Leeb_-_Silver_Should_Be_$150_Today.html
With so much volatility in the gold and silver markets, today King World News interviewed one of the top ranked money managers in the country, Dr. Stephen Leeb, Founder of Leeb Capital Management. Dr. Leeb’s comments surprised KWN in many ways, here is how he started the interview, “I think the United States has been asleep at the switch for a long time, and I think the Chinese in contrast have been wide awake to an emerging problem in the world and it’s one called resource scarcity. We’ve heard a lot about resource scarcity and mostly the reaction in the US is just to shrug their shoulders, we’ll figure out a way around it. Well, there really is not a way around certain kinds of scarcities.”
When asked where silver is headed in terms of price Leeb responded, “I could just look at it from a monetary point of view, forget about all of the industrial applications. The ratio of silver to gold in the world is about ten to one, maybe seven and a half to one, above and below ground if you look at reserves. So as a monetary metal you could make a case that silver should already be no more than a ten to one ratio with gold.”
When asked with the ten one ratio putting silver $150, is that an outrageous price for silver today Leeb responded, “No it isn’t, it’s not at all outrageous. Silver at $150 is in no way outrageous. I’m not counting the critical applications in the industrial and renewable areas.”
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