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The banks don’t have the gold the customers are paying them to have on
deposit…and eventually there will be panic because…[of that]….I just see massive turmoil when people finally realize the banks don’t have their gold….You will see governments frantically trying to substitute fiat money for gold because this is going to feed on itself….The banks take in customers gold and charge them fees for storing the gold as allocated, but then they turn right around and lease it out to the market to aid in price suppression. This is the kind of thing that will end in catastrophe.
So says Dr. Stephen Leeb of Leeb Capital Management in edited excerpts from his most recent interview with Eric King of King World News brought to you by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!). This paragraph must be included in any article re-posting to avoid copyright infringement.
Take Note:
Leeb concludes his interview (which can be read in its entirety here) by saying:
At some point the government may try to impose some type of controls, but before you get that you could end up with $8,000 or $10,000 gold. I just think this whole situation will end in total chaos. They will be trying to satisfy customers wanting their physical gold by the printing presses and that’s not going to work. It’s not a pretty situation.
Editor’s Note: The above may have been edited ([ ]), abridged (…), and reformatted (including the title, some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. The article’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article.
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