Tom welcomes Dr. Stephen Leeb, financial author, wealth manager, and newsletter publisher, back to the show. Stephen discusses China’s imminent plans to launch a digital currency. Initially, it will be used domestically but they plan on taking it international by basing it on a basket of currencies. He believes there will also be a gold backing. It should be simpler to use than the existing monetary system and he expects a lot of countries to adopt this system. A gold backing to this currency will be crucial as the world is tired of the existing US dollar system.

Commodities are increasingly crucial for society and a lot more copper is going to be needed. Energy will continue to be incredibly important to the world. The world isn’t going to accomplish what is needed under the US dollar system.

Gold has always been a threat to the dollar as it has been considered to be the currency of choice for centuries. He discusses the three in the morning raids on gold and why gold is the only commodity out there that can call itself a currency. The U.S. will do anything it can to avoid a gold standard but in the end, won’t be successful.

He argues that bitcoin is terrible due to its energy use and also its use by various criminal organizations.

The United States is buying its own bonds and the financial world is severely out of wack. We see low bond yields and numerous bubbles being pumped up. Mortgages cost very little and payments are low. People today can borrow for very little and buy investments on margin. Low-interest rates are creating dangerous bubbles and distortions. When money is free bubbles are created and are begging for a catastrophe.

Climate change has become a religion and there are severe risks with limiting the oil and gas business. We will need to use a lot of fossil fuel energy to build out renewables. He has serious concerns about the policies surrounding climate change. These policies will have dramatic impacts on the population and the economy. We are creating an economic crisis via flawed policies.

Time Stamp References:
0:00 – Intro
0:37 – China’s Digital Currency
20:19 – Gold Backing?
28:00 – Bitcoin a Threat?
31:00 – Financial Crisis Bubbles
37:10 – Energy and Oil
42:05 – Restoring the World
45:55 – Concluding Thoughts
47:18 – Wrap Up

Talking Points From This Episode

• China’s plans for a digital currency and the global implications.
• Why commodities and energy availability remain crucial to society.
• Bubbles and manias due to money printing.
• Climate change policy risks and potential for drastic impacts on society.

Guest Links:
Twitter: https://twitter.com/LeebPhd
Website: https://www.leeb.net/
Website: https://www.stephenleeb.com/
His Book Amazon: https://tinyurl.com/y4wphb87
Book Mentioned: https://tinyurl.com/4pdbt3u6

Dr. Stephen Leeb is a recognized authority on the stock market, macroeconomic trends, and commodities, especially oil and precious metals. As Chairman and Chief Investment Officer of Leeb Capital Management, Dr. Leeb combines his knowledge of macro-economic trends and current market conditions with detailed information about specific companies he follows to guide the Committee’s investment decisions.

Stephen Leeb is a financial author, wealth manager, and publisher of a family of investment newsletters. He has been a recurring guest on CNN, Fox News, NPR, Bloomberg, and many others through the years. Leeb was also said to be one of the country’s foremost financial experts, with Charlie Gasparino in 2016 recommending Leeb as a good candidate for Federal Reserve Chairman.

Leeb earned a B.S. in Economics from the Wharton School of Business. He also earned a Master’s in Mathematics and a Ph.D. in Psychology from the University of Illinois. He authored research papers on psychology and statistics in the peer-reviewed journal Psychological Reports. Stephen Leeb is married and lives in New York City, New York.

Leeb has written nine books on macroeconomic trends, finance, and investment, including the New York Times Best Sellers. Stephen’s recent book Red Alert was awarded the 2012 Axiom Business Book Awards silver medal in the International Business/Globalization category.