Chinese Gold Imports Spike to Staggering Record Level
June 4, 2012
On the heels of the spectacular rally in gold on Friday, and with global markets continuing to struggle, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management. Leeb told KWN that Chinese gold imports spiked to unbelievable record levels. But first, here is what Leeb had to say about the situation in Europe: “As George Soros said this weekend, ‘It’s not just the eurozone that’s at stake, it may be the whole EU that’s at stake. I think the Greeks will decide to stay with the euro. It’s dawning on them that the consequences of withdrawing will be dire, at least for the near-term.”
Stephen Leeb continues:
“The big question overhanging Europe is Germany. I think Germany is getting the message that if everything fails but Germany, Germany fails too and they fail in spades. You are getting to the point where you are definitely going to see some serious added liquidity in the eurozone.
It’s not going to be six months from now. It’s going to be in the short-term. That’s a very big deal….