Today acclaimed money manager Stephen Leeb told King World News the reason Germany is only getting small portions of their gold sent to them over the years is because the gold is not at the Fed. Leeb also believes the United States is now running out of physical gold to sell in their price suppression scheme. Here is what Leeb had to say: “There are two main parties engaged in a battle for economic and monetary supremacy in the world. This is China vs the United States. Interestingly, at least for a period of time, both countries don’t want to see the price of gold take off.”
Stephen Leeb continues:
“The Chinese don’t want to see the price of gold take off because they still want to buy a lot of it. The Chinese took in at least 1,000 tons of gold last year, and maybe even more. This total represents Hong Kong imports plus their own production.
This year the Chinese are really going to play the game much more aggressively with these Shanghai markets that are going to have international players actively trading in them. They will also trade derivatives, and the Chinese will accumulate gold through their new ETF.
The trouble the Chinese have is their internal production of gold is becoming more difficult to maintain....
“They just can’t, like so many others, replace the gold reserves, which would then be exploited in future mining.
It’s extraordinary up to now the percentage of reserves the Chinese have been mining, up to 35% of their gold reserves. I’ve never seen any country mine that percentage of reserves for any metal. You look at the pace of their mining and you can easily conclude they are desperate for gold.
If the gold price lifts off, that poses a major threat to the US dollar. So the United States has been the leader in the gold price suppression scheme. This is why so much gold has left Western vaults. The Germans now want their gold back from the Fed.
So Germany has asked for the gold stored at the Fed to be returned to Germany. The amount of gold the US supposedly has stored for the Germans is 1,536 tons. This can certainly be shipped to Germany. Yet it’s going to take 6 or 7 years to return a small portion of the gold to Germany? Why?
They ship much more oil than gold. This is ridiculous. What do they expect? Do they expect the gold to blow up? Last I heard gold doesn’t even oxidize or even tarnish, much less blow up. Why can’t they just load it on a ship or on planes and send it? Something doesn’t add up here, Eric.
The reality here is that the German gold has been leased out and it’s not sitting in the vault. So the Fed has agreed to return very small portions of the German gold each year, which is supposedly stored at the Fed. Well, the gold isn’t there and that’s why it is going back to Germany in small portions each year.