Thursday, October 31, 2013

China Is Preparing To Declare Financial War Against The US

Series of 1917 $1 United States bill
Today acclaimed money manager Stephen Leeb stunned King World News when he warned that the Chinese were preparing to declare financial “war” against the United States.  Leeb also discussed the frightening implications of this for the United States as well as other Western nations in this powerful interview.

Leeb:  “People don’t completely understand this because the stock market is on the move, but the reality is that  the US is in a great deal of danger.  There is a ‘black swan’ out there than could very easily destroy the US dollar and collapse the United States.

“The Fed’s balance sheet is now close to $4 trillion.  What is going to happen if all of the sudden there is an interest rate shock?  At some point, China can and probably will declare war on the US dollar and destroy it when they are ready. The way to begin that war would be to instigate an interest rate shock in the US.

If China were to shock the West by coming together with Japan, when the time is right, they could wreak havoc in the US bond market as well as the US dollar.  The chaos of the Chinese declaring war on the dollar could quite possibly collapse the currency altogether.

As the West continues to hemorrhage what remaining gold it has left in its vaults to the East, this is setting the stage, when the time is right, for the Chinese to end the US dollar’s reign, and install the yuan as the dominant currency in the world.  This is why the US is so desperately trying to set up trade agreements in Asia and elsewhere in the world in US dollars. Read more >>
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