Silver Price: Attention All Crybabies, Get the Checkbook Out!
20.05.12
Is back to remind silver bugs of the bright future for the silver price in his latest interview on GoldSeek Radio (GRS). (Previous BER articles about Leeb and silver, click here and here .)
“Silver is an utterly critical metal when it comes to renewable energies, solar panels; there’s no other game in town,” Leeb told GSR. “ . . . Silver-based solar is going to play a major part in our energy future . . . China used to export silver, now they’re importing, and they are very big importers. And they [China] went on to say that they’re not going export any silver what so ever.” Though China recently relaxed its strict export quota of rare earths , silver was not included in the increased export quota. And for good reason, according to Leeb.
Who is Stephen Leeb. He’s not the marquee name in Google’s search results. He is not as well-known as Jim Rogers; he’s not Marc Faber; and he’s not Peter Schiff.
Leeb is, however, a prolific author and researcher who’s looked at China’s multi-decade economic plans—plans that require a monstrous amount of critical industrial metals, including silver, to fulfill a national, strategic goal of reducing fossil fuels consumption within the People’s Republic. Leeb predicted the oil price would top $100 when it traded at $27. Now, he’s more alarmed at what he has discovered about China’s future consumption needs for the new energy commodity, silver. (See Robert Hirsch interview (audio) on the subject of Peak Oil on Financial Sense Newshour of Dec. 15.)
Source: Beacon Equity Research