With continued volatility in the gold and silver markets, today acclaimed money manager Stephen Leeb told King World News the Chinese accumulated a remarkable 1,500 tons of gold last year, and they are preparing to demand a second Bretton Woods type meeting. This is a stunning interview because it lays out how the bulls will win the gold war, and how China will force that victory. Here is what Leeb had to say in this exclusive interview, which is his most powerful ever: “The flow of power and gold is going from West to East. China may have accumulated a staggering 1,500 tons of gold last year alone. China’s growth is now picking up steam as well. What is really stunning is how much the yuan has increased in terms of international transactions.”
Stephen Leeb continues:
“The usage of the yuan in international transactions has been increasing at an unbelievable 170% per year. That’s how fast the yuan has been increasing in terms of international transactions. So goes the gold, so goes the power, and you can see it in the prominence the yuan is gaining.
The Chinese definitely have a plan here and that is to get control of gold…
“We are headed for another Bretton Woods. It is unsustainable for currencies to continue to lose their purchasing power while median incomes, especially in the US, continue to go down in the West.
At a certain point the Chinese will say, ‘It’s time to have another equivalent of Bretton Woods.’ That will challenge the BIS, and quite possibly lead to some sort of gold standard. What Bretton Woods did was reestablish the gold standard as the Second World War was coming to an end.
The reality of a ‘Second Bretton Woods’ would be China will play the part of the United States, and the United States is probably going to end up playing the part of Britain. That’s not good. It doesn’t mean our economy and everything are going to crash, but it will cement a ‘New World Order.’ And the new king of that world order is likely to be China.
By the time China has 10,000 or 12,000 tons of gold, whatever the number is, they are going to have a lot more gold than we will have, and this will take place within the next 2, 3, or 4 years. There is very little doubt about that. The US has already gone from 20,000 tons, to supposedly 8,000 tons, but it’s probably a lot less than 8,000 tons. There is enough documentation that proves this conclusively. Why does it take 7 years to ship 300 tons of gold to Germany? Go figure that one out if the US has so much gold on hand.
So that is where we are headed — to another gold standard. It is now a question of when it will happen, not if it will happen.”
Full article: China Preparing To Impose Bretton Woods II Gold Standard (King World News)