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Leeb:  ”The United States has had control of the world’s reserve currency since 1944.  Since 1971, when Nixon took the US off of the gold standard, it has allowed the US to print as many dollars as it wanted.  This has meant tremendous economic power and leverage over the rest of the world.  This is changing....


Continue reading the Stephen Leeb interview below...




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“We are at a point of inflection right now.  China’s GDP is already second to ours and they are our leading trade partner.  It will only be a few years before China has the world’s largest GDP.  But China is already #1 in the world in global trade.


This is all part of the push toward China taking over command of the world’s reserve currency status.  They have more to accomplish in order to gain that power, but they are well on their way.  Part of this transition is the fantastic flow of gold from West to East.  This is not an accident.  This has not happened because Asian women suddenly decided to buy more jewelry.  Most of the gold is flowing into China’s central bank.


The Chinese are seeking to have more gold than the United States, but that may not be such a big deal because we may not have any left.  But assuming we do have those 8,100 tons we claim to have, China wants to have more than that.  When you combine that with Germany’s and Russia’s gold, you have a bloc that can really distort and change the entire economic balance of this world.


Meanwhile,  the US is so extended everywhere around the globe, and all of the world’s goods are being shipped from the South China Sea.  That’s where the future of our world lies.  I want America to wake up.  If America loses its reserve currency status we are going to be subject to massive inflation, a depression, and a further lowering of the already diminishing living standards for most Americans.  But right now I don’t see anything that’s going to stop that.


The one and only winner will be gold.  Gold will back any new reserve currency.  But this is all very sad for the United States because if you look at the US between the end of World War II and 1971, our levels of growth and prosperity were fantastic during that period.  Once we went off of the gold standard all hell broke loose in this country.  At that point we lost all sense of discipline.  Health care costs and inflation started to skyrocket and everything went nuts.  The move to a lower standard of living for most Americans has taken place because our money has continued to be debased and destroyed.


But the world is going back to a gold standard one way or another.  This is why people have to own gold.  People should also put away a lot of silver too.  Those metals will be an economic fortress for investors.  This is all going to end in tears for most people in the West because they will not be prepared for what is coming.  The adjustment to the New World Monetary Order is going to destroy the savings and wealth of so many people in the West.  It will be a sad day for those who are not prepared, and all of this is happening by design.”


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The audio interviews with Eric Sprott, Andrew Maguire, Rob Arnott, William Kaye, David Stockman, Rick Rule, John Mauldin, Bill Fleckenstein, Egon von Greyerz, Art Cashin, James Turk, Dr. Paul Craig Roberts and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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