Today one of the top money managers in the world told King World News that the coming Great Reset will be the final nail in the West's coffin. He also discussed how this is going to dramatically alter the power structure across the globe as well as what investors should be doing ahead of the coming turmoil.
Stephen Leeb: “Investors are finally recognizing after what Mario Draghi said today that there are really no trustworthy fiat currencies in the world. Well, when paper currencies break down, monetary metals like gold and silver go up. That’s what we are seeing right now….
Continue reading the Stephen Leeb interview below…
“I want to make some comments about the oil market. If we did not have the extra oil from fracking in the United States the world would be 3 million barrels short in terms of oil production. OPEC knows that oil is finite and it would be impossible for them to produce that much oil over the long-term.
China To Finance 150 Billion Barrels Of Russian Oil Production
So who will make up the difference in terms of global oil production in the future? It has to be Russia. Russia is clearly the only major source of the remaining conventional oil in the world. Eastern Siberia alone may have as much as 150 billion barrels of oil. That’s a staggering amount of crude oil.
China To Dominate Oil And Other Strategic Resources
China will be the finance arm to increase Russia's oil production in Siberia. So China is winning big in terms of this decline in global oil prices. This will only serve to increase China’s dominant position in terms of control of strategic global commodities. India and Russia are talking about natural gas pipelines. The natural gas and oil pipelines will amount to $70 billion. China has already inked a $400 billion deal with Russia. China will also help finance this infrastructure.
So it’s very clear that the winner in this game is China. As I’ve been saying, everything is gravitating toward the East. Through China’s relationship with Saudi Arabia and Russia, China will end up controlling the largest amount of conventional oil and natural resources that are left on the planet.
This is yet another huge win for China and it points to the yuan moving front and center in terms of international transactions. China will also move to back its currency with gold. This is why people have to own gold in order to protect their purchasing power. Gold will be revalued significantly higher as it reenters the world financial system. This is why you must own gold ahead of this coming Great Reset. And as the East develops its own monetary system, that’s going to leave the West out in the cold. So, sadly, the loser in all of this is going to be the West.” ***ALSO JUST RELEASED: Man Who Predicted Collapse Of Euro Against Swiss Franc Makes Second Terrifying Prediction CLICK HERE.
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The audio interviews with Dr. Paul Craig Roberts, Gerald Celente, Lord Christopher Monckton, Michael Pento, Bill Fleckenstein, David Stockman, Dr. Philippa Malmgren, Egon von Greyerz, Stephen Leeb, Andrew Maguire, John Embry, Rick Rule, Rick Santelli, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.