People Are Getting Scared And Liquidating & Germany’s Gold
October 23, 2012
With global markets trading in the red, including gold and silver, today acclaimed money manager Stephen Leeb spoke with King World News about the action in the metals, and the Germans looking to audit and repatriate some of their gold: “Desperation leads to desperate measures, and yes, could entities be hiding gold or not having what they say they have? Absolutely.” Leeb also said, “… somebody is holding (the price of) gold back.”
Here is what Leeb had to say: “People are getting scared. I guess there’s some liquidation of virtually everything on the basis of these fears. Gold, though down, is certainly down less than virtually every other asset. Even silver, which is extremely volatile both on the upside and downside, is down about 1%, which is a lot less than the market.”
Stephen Leeb continues:
“Even junior gold stocks, the last two days are about flat. They are down today about what they were up yesterday. So I think investors are getting the idea that this is not a sustainable down-move in gold or the precious metals. Basically this weakness in Europe and in other economies is going to result in more money printing, more stimulus.
Eventually they will get it to where we have more inflation….