Legendary Pierre Lassonde Weighs In On Gold Takedown

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/16_Legendary_Pierre_Lassonde_Weighs_In_On_Gold_Takedown.html

Lassonde:  “Eric, I ask you has anything changed today from a month ago?  Has the Fed stopped printing $85 billion a month?  Have the Japanese not started printing $120 billion each month?  Hasn’t the Bank of England hired a new central banker that’s as keen to print money as Bernanke?  Isn’t Europe still in trouble?

So at the end of the day what’s happening is the Japanese are trying to devalue their currency.  The Europeans are also trying desperately to devalue their currency.  Do you think the US will stand by and let the dollar keep going up?  No.  The US will keep depreciating its own currency.

What is the US depreciating against at the end of the day?  There is only one currency you can’t depreciate, it’s gold.  We have seen this type of market volatility in the past.  Yes there are very scary moments, and yes for the average investor they can be gut-wrenching, but as I said earlier, for people who have put some cash aside you are looking at opportunities being served to you on a golden platter.”

This is what I like about the great ones like Lassonde, they never panic.