All Hell is Going to Break Loose on the Upside in Gold
July 11, 2012
With the US dollar hitting fresh two year highs, stock markets struggling around the world, and gold holding firm, today King World News interviewed acclaimed money manager Stephen Leeb, Chairman of Leeb Capital Management, to get his take on what is happening. Leeb told KWN there is a huge scandal because “…the banks don’t have the gold the customers are paying them to have on deposit,” and “all hell is going to break loose on the upside.”
Here is what Leeb had to say about the scandal: “Examples that people like Eric Sprott have given, where an individual depositing gold in 2009, when they asked to get their gold back there were long delays. And the gold bars they got back were certainly not the gold they deposited because they came back dated 2011. What’s that all about?”
Stephen Leeb continues:
“What’s amazing to me right now, Eric, it’s come down to a world where the war is between those who believe in capitalism and those who don’t. What is interesting is that you have people on the right and the left that have banded together. They don’t trust government and they don’t trust the system, and who can blame them?
But the real scandal here is the banks don’t have the gold the customers are paying them to have on deposit. And the more countries like China and India accumulate, the more likely all hell is going to break loose on the upside….