Stephen Leeb: “Someone from the IMF just said that the chances are 99 percent that China will get approved for reserve currency status. If they do (get approved), how long before China says, ‘Now that we are approved as a reserve currency, now that the world can trade with the yuan, we want to put a little more backbone in our currency, how about backing part of our currency with gold?’ That is definitely going to happen, Eric…
“If you put all this together, Eric, you have a case for gold. China is going to back their currency with gold.
I have in front of me on my screen four different assets — gold, oil, stocks, and bonds. And the date I have (at the beginning of the charts) is 9/30/2007. Why is that date important? Because that is when the world changed. That was the beginning of the Great Recession and everything changed after that point.
Gold Vs. Stocks Since The Great Recession Began
Now, if you asked anybody: What has been the best performing asset over these past 8 years? The last answer you are going to get is gold. Yet gold has outperformed bonds by about 17 percent, stocks by 30 percent, and no one knows it..."
at http://kingworldnews.com/china-is-preparing-to-shock-the-world/
No comments:
Post a Comment