Gold To Explode As A Percentage Of Global Currency Reserves
February 13, 2013
Today acclaimed money manager Stephen Leeb told King World News gold is going to soar as a percentage of global currency reserves. He also believes the West will be left holding the bag when this drama is complete. Here is what Leeb had to say: “This aversion to gold in our country, and these latest regulations from Basel saying that gold cannot be part of a liquidity buffer, central planners are doing everything they can to keep gold from being acknowledged as a currency.”
Stephen Leeb continues:
“Obviously there would be an even bigger flight from the dollar and into gold right now if Basel had ruled the other way. Imagine a world in which the US dollar is no longer the reserve currency. That day is coming. Under those conditions QE becomes tremendously difficult and interest rates explode….