Leeb: “The euro is on a tear and it has risen quite dramatically, but one currency has done considerably better than any other during the past month and that is the Chinese yuan. The yuan is just soaring. Right now there is a massive of flow of gold from West to East, and I think the West is desperate, and want to emphasize the word ‘desperate,’ to hold down the price of gold because gold represents a massive threat to the US dollar....
“From a foreign perspective, they are holding what could become worthless pieces of paper because the dollar may collapse. So there is tremendous pressure to keep any alternative currencies out of the spotlight. This means pressure from the West to keep gold down.
Although China does not want the price of gold to take off from current levels, the timetable for their plans has in fact been accelerated because of the recent chaos in the US. As I previously mentioned to you, the Chinese have another 5,000 tons of gold they want to accumulate. If they had been planning to do that accumulation over 2 or 3 years, that timetable has been cut in half because of what has recently transpired.
But we are now approaching the point where there will just be one-to-three currencies that are important in this world, and the dollar will probably not be one of them. This world is in the throes of a massive change, and, despite the continued propaganda, what we are seeing right now is not business as usual.
My advice for investors is to load up on physical gold and silver. I strongly believe it is vital for the future of people reading KWN to own precious metals in order to survive financially as the chaos accelerates. Gold is on its way to regaining prominence in terms of becoming the powerhouse of global currencies. Silver will also benefit from all of this money printing.
But right now the United States is turning over the keys to the Chinese. We are literally ceding power, giving the Chinese power. We are enabling them to become the number one superpower and economy in the world, and I hate it. I am just mad as hell when I see what’s going on here. There is a tremendous amount of fear in the United States about the increasing power the Chinese are exerting in this country and the fears are well-founded as far as I’m concerned.
I am trying to tell everyone what is happening for their sake and for the sake of their families. You will have to own an alternative currency in order to survive what is coming, and the only one that really makes sense is gold. But the bottom line is the US is going to lose its reserve currency status to a new bloc of currencies that will include gold as a component. Once that happens, Eric, we won’t be able to print dollars. That’s a major worry.
The Chinese are leading the world in terms of gold accumulation. When the second Bretton Woods Meeting takes place, the Chinese will largely be dictating the terms. This will force the US to surrender its global leadership to the Chinese. The thought of this should just chill people to the bones, and no one is even talking about it.”
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