Stephen Leeb: “At the first Bretton Woods Meeting, the United States had the most gold. So the dollar was king until inflation went wild and we said, ‘To hell with the gold standard.’ Next time around it’s not going to be the US that’s sitting there with a massive pile of gold. Instead, it will be the Chinese.
I would also note that the yuan is continuing its historic rise in terms of international usage in trade. That’s the way it’s going, and all I can say, Eric, is America, wake up! It is ‘Red Alert.’ Wake up America because everything is going from West to East, and if we don’t do something about it we are just going to lose control of our destiny.
So when investors ask, ‘How high is gold going to go?’ I wouldn’t even be excited at $2,000. That’s just when the next bull market really starts. We are still consolidating the first run from $250 to just above $1,900. That was the first run. The next run starts as gold breaks $2,000, and maybe ends above $10,000. The spike above $2,000 will represent a massive breakout for gold. So, for investors, owning physical gold is something you must do for the sake of yourself and your family in order to preserve your wealth.”
Source King World News