China Is Going To Unleash The Gold Price Along With A New Monetary System

Monday, May 25, 2020
By Paul Martin
May 25, 2020

As we kickoff trading in the final week of May, one of the top money managers in the world said China is going to unleash the gold price along with a new monetary system.

China Will Send Gold Soaring
May 25 (King World News) – Dr. Stephen Leeb: Investors who have long had a particular interest in gold are surely asking themselves: How does the pandemic that originated in China and swept through the world impact the outlook for the metal?

My assessment? It will only speed up what already was inevitable, i.e., China’s forward march in ways that will send gold soaring.

The pandemic will make it easier for China to broaden its already sizable lead over the West in all those characteristics that position an economy to define what a monetary reserve system should look like. And China, as I’ve been arguing, will use that edge to create a new monetary system that will likely be a basket of currencies but that certainly will be backed by gold.

$20,000 Gold
I’m still guessing that ultimately this will lift gold to $20,000 or so. But one lesson everyone should take away from this pandemic is humility. The world throws a lot of curve balls, and the world could change in any number of unforeseen ways. Still, the more unexpected changes, the more likely that gold will be the one investment that’s utterly essential to own.

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