The Fate of the Global Financial System Hangs in the Balance
June 28, 2012
Critical meetings are taking place today and tomorrow which may decide the fate of the EU. With that as the backdrop, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman & Chief Investment Officer of Leeb Capital Management, to get his take on what is happening. Leeb told KWN the situation in Europe has “gone from bad, to worse, to outright frightening.” Here is what Leeb had to say about what is taking place: “My attention right now is focused on Europe. What is going to happen over in Europe is going to be incredibly important. Any rational person looking at the calculations would expect Germany to play ball, which means come up with a major funding package.”
Stephen Leeb continues:
“You would also expect the ECB to be allowed to increase its purchases of bonds because they need some type of major package. But investors have to back up a second, and when you back up, you have to be a little more worried. The reason to worry is because this is the 19th time the European leaders have gotten together.
During that period we have gone from bad, to worse, to outright frightening….