Today acclaimed money manager Stephen Leeb stunned King World News when he warned “if the Chinese were ready right now to seize power, they could probably take control of our financial system today.” Leeb also discussed the frightening implications of this for the United States as well as where the US is headed from here.
Leeb: “I am focused on the chaos in Washington. We need a situation where the politicians form some sort of cohesive unit that would suggest they are interested in growth and the well-being of the American people, but that doesn’t exist. Frankly, I’m angry. I’m an American. I have kids that are growing up here, and as I said, I’m really, really angry about what is transpiring….
“I see what is happening as the beginning of the end. I also continue to see what is taking place as a tremendous gift to China. We are just giving power to China — just handing it over to them. It’s as if we lost a big poker game to China, or we are in the process of losing.
Yes, the US will probably pass an extension on the debt ceiling, but we are like blind men right now and we are just taking another step toward the cliff. The only reason we are able to continue with business as usual is because there is nothing better than the dollar right now that people or countries can easily turn to as a currency.
We’re giving power right to the Chinese. Every dollar down in the price of gold is more power to China because it makes it easier for them to buy it. And if the Chinese were ready right now to seize power, they could probably take control of our financial system today.
Right now, the Chinese are gaining power over the US day by day. We’re giving them power. I was being interviewed last night on television with the former Chairman of McDonald’s and he was agreeing with everything I am telling you.
The reality is that the Chinese are probably not ready yet. They probably don’t have enough gold on hand. But we are certainly making it easier for them in the gold market. The US is intervening in the gold market to try to keep the US Dollar Index above 80.
The only thing that is going up in the country right now is stocks. The only reason stocks are going up is because we are pouring money into the economy. But it’s having no effect to speak of on the real economy or real incomes. Real incomes have been going down now since the beginning of the century.
Full article: China May Seize Control Of Entire US Financial System (King World News)