Gold & A Global Financial System In Complete Turmoil

m4s0n501

On the heels of continued chaos in global markets, today acclaimed money manager Stephen Leeb spoke with King World News about the gold and silver smash and what investors should expect going forward. Leeb also talked with KWN about one country in Europe that is getting very serious about its gold.

Leeb: “Germany, as we know, is repatriating their gold from the United States. Everybody has talked about that — ‘Why is it taking years to get a few hundred tons back to Germany (from the United States)?’ But guess who else they are repatriating their gold from? France.

Now, the German comment is, ‘Well, there’s no need to store it in France because we’re all one currency now.’ Really? And you expect to remain one currency for the next 10 or 20 years? And if you’re just one currency, why not leave it in France?

  • Dow Jones 30,000 Trigger Leaked by 27-Year-Old Stock Research Firm CLICK HERE
  • The Inevitable: Dow Jones 30,000 CLICK HERE

Germany is getting very serious about their gold….

“So they are the one Western exception. The rest of the gold is headed East big time … The reason Germany entered my head is because all of the sudden you see Germany, Toronto, London, all vying to be hubs for yuan trading. That’s trading in Chinese currency.

All of the sudden the yuan is on the verge of becoming a reserve currency. If you think that trend is going to stop any time soon, forget it. But Germany continues to go it alone. They continue to be the one European country after gold. They want to be the hub of yuan trading. So you can see how the world is developing, Eric.”

Leeb also added: “This was inevitable that you would have a big decline in gold. Ultimately the West, and in particular the United States, is desperate to keep the dollar at the forefront, to keep the dollar as the reserve currency.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/5_Gold_%26_A_Global_Financial_System_In_Complete_Turmoil.html


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

m4s0n501