Thursday , 28 March 2024

Leeb: Lack of Gold On Deposit to Eventually Result in Panic, Massive Turmoil & Total Chaos! Here’s Why (+2K Views)

The banks don’t have the gold the customers are paying them to have on deposit…and eventually there will be panic because…[of that]….I just see massive turmoil when people finally realize the banks don’t have their gold….You will see governments frantically trying to substitute fiat money for gold because this is going to feed on itself….The banks take in customers gold and charge them fees for storing the gold as allocated, but then they turn right around and lease it out to the market to aid in price suppression. This is the kind of thing that will end in catastrophe.

So says Dr. Stephen Leeb of Leeb Capital Management in edited excerpts from his most recent interview with Eric King of King World News brought to you by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!). This paragraph must be included in any article re-posting to avoid copyright infringement.

Take Note:

  • Go here to receive Your Daily Intelligence Report with links to the latest articles posted on munKNEE.com. It’s FREE!
  • An easy “unsubscribe” feature is provided should you decide to cancel at any time.

Leeb concludes his interview (which can be read in its entirety here) by saying:

At some point the government may try to impose some type of controls, but before you get that you could end up with $8,000 or $10,000 gold. I just think this whole situation will end in total chaos. They will be trying to satisfy customers wanting their physical gold by the printing presses and that’s not going to work. It’s not a pretty situation.

Editor’s Note: The above may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.

Related Articles:

1. The “80-20 Rule” Suggests Gold Will Reach $8,300/ozt in Spring of 2015!

how-to-value-and-invest-in-gold

The “Pareto principle” – it’s often referred to as the “80-20 rule” – states that 80% of the effects of something come from just 20% of the causes (that is that 80% of people control 20% of the wealth, that 80% of sales come from 20% of your customers, etc.) and a new report by Erste Group, the Austrian investment bank, says this principle can be applied to bull markets as well, including the current bull market in gold, and following this line of thinking, you get an $8,300 price target for gold by the spring of 2015. Words: 285

2. Update: 51 Analysts Now Maintain that Gold is Going to $5,500 – $6,500/ozt. in 2015!Gold_intro

 

 

 

Lately analyst after analyst (161 at last count) has been climbing on board the golden wagon with prognostications as to what the parabolic peak price for gold will eventually be. That being said, however, only 51 have been bold enough to include the year in which they think their peak price estimate will occur and they are listed below. Take a look at who is projecting what, by when and why. Words: 644

3. Is Gold About to Go Parabolic to $3,495 in June ’13; $10,899 in Sept. ’14 and Top Out at $32,659 on Jan. 16, 2015?

buy-gold

According to a recent Elliott Wave theory analysis gold is about to go parabolic reaching $3,495 in June 2013, $6,233 in April 2014, $10,899 in Sept. 2014, $18,712 in December 2014 and culminating in a parabolic peak price of $31,672 on January 16th, 2015! See the chart below. Words: 600

4. New Analysis Suggests a Parabolic Rise in Price of Gold to $4,380/ozt.

gold-bars4

According to my 2000 calculations, if interest rates and inflation stay constant over the next 2 years, we could expect to see (with 95.2% certainty) a parabolic peak price for gold of $4,380 per troy ounce by then! Let me explain what assumptions I made and the methods I undertook to arrive at that number and you can decide just how realistic it is. Words: 740

5. David Nichols: Expect to See $2,750 – $3,000 Gold By June 2013 – Here’s Why

Gold_intro

The interim peaks in gold have been spaced 21 months apart over the past 6 years and have seen gains from 80.2% to 97.3%. As such, given the fact that the low of this last correction came in at $1,524 four months ago, we can expect gold to reach a new peak price of $2,750 to $3,000 in 17 months time (i.e. June/July 2013). [Let me explain in more detail.] Words: 976

6. Leeb: Gold Going to $3,000 Before the End of 2012!

gold-bullion2

The Fed is [going to] keep interest rates at zero until the end of 2014 [and that] is as aggressive as it gets and as bullish as it gets for gold. Inflation will be let out of the bag, maybe for the next three to four years. In this environment gold and silver are the best investments around…We are really talking about the next leg higher in this bull market…This is the leg I expect to take gold to $3,000 before the end of 2012.

7. Will Gold Peak at $2,500, $8,890 or $15,000?

When considering that the conditions which propelled gold and silver to their 1980 highs are much worse today, I predict both metals will easily eclipse those previous highs. That means $2,500 gold and $150 silver at the very minimum, but more likely a parabolic ascent to $8,890 gold and $517 silver before all is said and done. Words: 1063