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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