Silver Update 3/8/12 Viewer Questions 2

Leeb - Warren Buffett Desperate & Policymakers Scared to Death

Today acclaimed money manager Stephen Leeb told King World News what the Fed is doing right now is unethical. Leeb also said Warren Buffett is desperate and policymakers are scared to death. Leeb is Chairman & Chief Investment Officer of Leeb Capital Management. Here is what he had to say: “There’s really only one currency in this world and that’s gold, period. You’re going to need gold, eventually, to buy oil, to buy food, to buy real estate. Just those three (assets), if you look at the dollars that are now transacted in all energy, food and real estate, you come up with a number like $36 trillion a year.”

Stephen Leeb continues:

“All of the gold in the world is only worth $9 trillion. Looking forward three to five years, you have to come up with $10,000 gold. You have to. Everything else is being devalued. So you come up with very high targets for gold.”

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Jim Sinclair - Central Banks Concerned Gold Will Go Ballistic

Today legendary trader and investor Jim Sinclair told King World News that the Fed has gone too far and risks losing credibility. Sinclair also said the central banks are doing what they can to prevent gold from reaching a level where it begins to go parabolic. Here is what Sinclair had to say about what central planners are up to and what to expect going forward: “Well it’s amazing that we’ve developed such visionaries in the Fed that they know exactly when to step on the accelerator and exactly when to step on the brake. Then, could they please explain how we got to the point where we need that?”

Jim Sinclair continues:

“The other side is, maybe what we are really going to do is a Harley Davidson burnout where nobody can see anything but a cloud of smoke. I think the Fed has gone too far when they speak to people who do understand enough about what makes these things happen, to know this is just, bottom line, fabrication.

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Greyerz: Greek Deal to Collapse Causing Trillions to be Printed

Today Egon von Greyerz told King World News even if a Greek deal is announced, at some point it will collapse. Von Greyerz also said the consequences of the collapse will be massive. Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Here is what von Greyerz had to say about what is taking place in Europe and how it will impact gold and silver: “Well, it’s ridiculous. Every few minutes we are seeing a different headline. One second Greece is being saved and the next second the deal is collapsing. Yesterday, for example, three UK banks signed up and that still only leads to 40% acceptance and one of the banks that signed on was Royal Bank of Scotland.”

Egon von Greyerz continues:

“Royal Bank of Scotland is a bankrupt bank that is owned by the British government. This is the bankrupt leading the bankrupt. It’s absolutely ridiculous. If this deal is happening now, it would be a miracle. It could happen, but at some point the deal will collapse anyway.

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