Why Gold Is Going To $20,000 & Silver Into The Stratosphere
February 26, 2013
With gold and silver surging strongly on Bernanke’s Congressional testimony, today acclaimed money manager Stephen Leeb explained to King World News why gold is headed to $20,000 and silver into the stratosphere. Here is what Leeb had to say: “There is no question that Bernanke pulled the rug out from under the gold bears today. Their argument has been that the Fed is starting to turn a little bit more hawkish. We had some propaganda coming out which indicated the Fed was going to end QE at some point this year.”
Stephen Leeb continues:
“All of the sudden Ben Bernanke is in front of Congress today basically saying, ‘Hey, wait a minute, this (QE) thing is working. Risks of deflation have gone down dramatically, and we don’t see any major risk of getting out of these bonds.’ Well, give me a break.
The Fed is going to continue with its easy money policy for as long as the eye can see. This is important when looking at the recent action in gold….