Leeb – This Will Be The Most Frightening Period Of My Lifetime
November 13, 2012
Today acclaimed money manager Stephen Leeb told King World News, “The first piece of data I look at, and I do it around 1AM to 2 AM every morning, is how the Chinese yuan is performing. Recently the Chinese yuan staged a very dramatic breakout. It is effectively at all-time highs since China let the yuan semi-float around 20 years ago.”
Stephen Leeb continues:
“There has been a great deal of political pressure put on China to strengthen the yuan. The Chinese are responding to their transition to a new leadership. China’s new leader and leadership should be incredibly strong going forward. They will prepare the Chinese for the 21st century….
Continue reading the Stephen Leeb interview below…
“We know this is going to involve more rounds of infrastructure. Many people say China has overbuilt. They say China has too much of everything. This is just nonsense. Regardless, China’s buildout is going to require a great deal of steel, copper, and yes, silver.
The Chinese leadership needs to worry about future water, silver, and gold supply needs. On the flip side, a think tank just reported that China has 17 minerals that the West will need. So China has a bit of a monopoly on certain critical materials.
But China isn’t just going to need gold, silver, and water. They will also need oil. What the IEA is saying is a complete joke. These were the same people that were saying that Saudi Arabia was going to produce 20 million barrels of oil. Now they are saying US oil production will be greater than that of Saudi Arabia by 2020.