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Oil back above 93 dollars a barrel what have that happen W blink and it's happens gold has reclaimed 16100 dollars a Troy ounce.
Copper up more than 4% the past three sessions we've got somebody says he has identified the biggest bull market of -- time and it's in the commodity space.
Evenly as the founder -- research chairman of the lead group that's good to see again -- Liederman thanks for coming -- if you aren't gold let's first talk about gold and and the big question about whether -- occurrence here.
Currency means it holds its value.
And that that question hasn't that concept of gold as currency been strengthened by all this talk about pretty good money by the Fed this is -- -- over -- both.
Course and it's strengthened in spades by the fact that so many resources are scarce you have a world David in this that is sold leveraged.
To changes in commodities if we can hit anything resembling growth in the US in Europe China will recover and I think they'll recover sharply.
You're going to see a dramatic rise in commodity prices I mean just consider this copper which is -- that -- great -- great this year.
The doubt but it's still trading at around 340.
In the context of no growth in Europe and the United States over the past five years.
Copper averaged under a dollar in the ninety's okay are you buying it right here at 340 I would buy it yes but I would -- with a longer term perspective.
And this is this thing about Goldman which is tied into gold per second this.
These commodities are scarce and it's not just -- -- saying these commodities are -- some talking that's a water copper energy the whole bit it's also Jeremy Graham at.
Who is you know one of the largest and most respected money managers around if these commodities truly are scares happen -- -- good argument about currency.
What are you gonna be able to bite them with.
Are you gonna be able to buy them with paper money ports really -- the battle of printing presses between countries are you gonna be able to buy them with goal.
You any answer it's.
The tore my heart -- all -- with the scarcity of commodity my problem was is is with -- legitimizing all the currencies around the world barrels -- girls can in my -- there.
Early in the Asian -- -- Islamist commodities as long as things you really need are holding their value not doing anything like in the ninety's.
Loyal to state around twenty up a little bit down a little bit.
But in this.
In this -- in this century.
You basically you know the issuers -- kind of crummy -- you basically this in the steady uptrend.
How you couldn't get those commodities who's gonna give them to you.
Unless you have some other thing to exchange now who's buying commodities and who's buying gold and over -- today you know.
I wish I could but I'm talking about the Chinese when you see countries like China increased their goal.
Consumption and demand by six fold in a year.
I mean if you look at their gold purchases to Hong Kong and they may be buying gold to other ports through this year vs last year six fold increase.
They are desperate for gold they're mining 20% of their proven reserves -- on.
-- out how they get it and get it in space and we better also get minerals I think -- gonna be baking for oil baking for copper.
-- for every critical commodity within the next three to five year we teased our viewers that -- -- going to say what will be the biggest well I'm sorry.
OK I think Mike you know.
Anybody can be wrongly it is.
But when I'm talking about major bull markets I'm talking about I think a bull market that can rise 1015 poll by the way -- look -- junior gold market got it what are junior gold junior gold mines in many cases our our our minds that are sitting on massive deposits where there hasn't been yet enough money.
Put in to develop those the novagold novagold is if you just look at the -- forget about Stephen -- You have elect them which I think in one of the brightest people around in gold you have John Paulson.
You have Bob holes which is the what did it for best performing hedge funds.
Over the past forty years all having major stakes -- it why because -- forty million ounces and probably a lot more sitting there up high grade or.
They needed infrastructure to bring that goal to the market and once they do.
You're going to be pardon the pun -- money.
Date time -- that there is room for I think ten fold gains in a lot of these junior gold stocks once people get the message and once there are more Indian weddings.
I think also a lot of coal consumption and ultimately what Stephen -- -- to see a -- thank you very much well investors.
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