This Is Going To Be A Huge Surprise For The World

This Is Going To Be A Huge Surprise For The World

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One of the greats in the business spoke with King World News about what is going to be a huge surprise for the world.

Stephen Leeb:  “It has been a busy week. On Tuesday, in his address to Congress, President Trump promised major tax cuts and significant infrastructure spending, a strong pro-growth message that sent stocks surging and bonds tumbling. Then, on Friday, Fed chair Yellen as good as promised a rate hike when the Fed meets in a couple of weeks. Higher rates are never good for gold, which dropped a bit less than 2 percent…


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KWN Faber I 2:19:2016

But given this double-barreled blow from the country’s top two policymakers, that’s a very modest drop. For example, gold fell by 5 percent – and silver even more – in August 2016 following an upside surprise in the employment report.

The implications of another event during the week, while perhaps not a major contributor to the resilience of the precious metals, are starting to paint the perimeter of the economic world we live in. Once it reaches the center – Katy bar the door – gold and silver are off to the moon. I am speaking about the more than 10 percent jump in Albemarle, one of the world’s largest lithium producers. Lithium is a metal that has become increasingly dear as demand has surged on the back of its use in batteries for electric cars or vehicles (EVs). Indeed, lithium has become known as white oil, and is a major reason many analysts see a dimmer future for the black stuff.

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I, too, think lithium will go a lot higher, but I don’t agree that it poses a major threat to fossil fuels or even to gasoline-powered cars. Lithium and oil have a key thing in common: both are finite. 

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King World News

Interviews with market experts from around the world with a focus on precious metals.