China Moving To Dominate The World With Gold Purchases

Stephen Leeb 說, 中國推高人民幣, 因為變相可以買到平實金, 而將來中國可以用黃金來支持人民幣的強勢 !

所以叫你地繼續持有實金和實銀, 而銀價將來的升值率會多過金價 !

kingworldnews.com

With continued volatility in gold and silver, today acclaimed money manager Stephen Leeb spoke with King World News about China’s massive gold buying spree and their move to dominate the world.  Leeb also said investors should be aggressively buying silver right now.  Below is what Leeb had to say in his interview.

Leeb:  “I am focused on China right now.  The dollar is down against the euro today because Germany had stronger than expected industrial production, but nobody is really focusing on what’s going on with the Chinese yuan and their massive gold purchases....

“The yuan is setting all-time highs.  China is playing the game and they are dominating right now.  Countries have been battling each other in order to cheapen their currencies.  The problem with a cheaper currency is that commodities cost more.  So China has decided to opt for a higher currency.

The move in the yuan overnight was one of the most significant upticks I have seen.  LIke I said, the yuan moved to an all-time high.  The yuan has advanced roughly 5% against the US dollar in just nine months.  China also imported over 200 tons of gold for the most recent month.  That is an extraordinary number.  At that rate that’s over 2,400 tons of gold per year on an annualized basis.

This simply speeds up the point at which China will be the largest gold holder in the world.  China saw gold come down and they didn’t just buy on the dip, instead they bought as much as the market would give them.  And, again, you see the yuan going up so that is making the price of gold even cheaper for the Chinese. 

It’s only a matter of time before the Chinese back the yuan with gold.  This will push the yuan front and center as a key element in terms of being part of the world’s reserve currency basket.  China gets the message.  They are doing whatever it takes to establish their dominance in the world, particularly in the commodity arena.  Their currency is flying and they are importing as much gold as they possibly can. 

All of this spells incredible upside for gold.  Hang on to your gold, and buy more if it comes down in price.  And especially buy silver.  When gold takes off, silver will be gold on steroids.”