China May Now Have World’s 2nd Largest Gold Reserves

Today acclaimed money manager Stephen Leeb stunned King World News when he said the Chinese may already have the world’s second largest gold reserves, eclipsing Germany to grab the number two spot.  Leeb knows China is incredibly secretive about its insatiable accumulation of gold, and believes they are not fully disclosing their entire gold position to the world at this point.  Here is what Leeb had to say:  “I’m focused on precious metals and this fascinating battle between the East and the West, Eric, especially China and the United States.  There is an economic ‘Battle Royale’ going on right now, and I think the Chinese definitely have the upper hand.”

“They have a stronger economy and a clear plan as to what they want to accomplish.  They have a much longer-term perspective, and this spells very, very tough times for the United States.  I wish it weren’t true, and I wish this country would wake up. Continue reading