Today one of the top money managers in the world told King World News that China’s new gold fix is the first step in moving the price of gold to $10,000 – $20,000.
China Introduces Its Own Gold Fix
Stephen Leeb: “What China has essentially done today is introduced their own gold fix priced in yuan. Once the world views gold in terms of yuan per grams of gold as the way of measuring and trading gold, that will mean that China is officially controlling the world’s gold market. You have to also remember that China has already acknowledged that they want gold to play a much more important role in the world monetary system…
China Moving To Dominate The World…
Stephen Leeb continues: “And if China is controlling the world’s gold market, gold will start to play a much more important monetary role. The reality is that China has downplayed the true amount of their massive gold holdings, and we are nearing the point where the Chinese will announce that they are the largest holders of gold in the world. This will put China front and center in terms of controlling the global monetary system and it will also put China in a position to dominate the world economy.
China Will Do It By Taking Gold To $10,000 – $20,000
Meanwhile, the West is desperately trying to stop the power from heading to the East. Regardless, this world is changing very quickly and the power is moving toward the East, and investors had better take note and position themselves accordingly. What I am saying, Eric, is that investors better own gold and continue to buy gold just like the Chinese because the price is ultimately headed to somewhere between $10,000 and $20,000, and it will be the Chinese that make that happen for their own benefit.”
By King World News