Saturday, March 8, 2014

Dr. Stephen Leeb Predicts new World Reserve Currency is Coming

We can add Dr. Stephen Leeb to the list of prominent financial analysts who thinks a new world reserve currency is coming.  Here is some background info for Dr. Leeb.

In this recent interview Leeb says he sees events leading to a new reserve currency. Here are a few quotes from the interview:

"It’s clearly in the interests of Russia to have high oil prices in the world.  In fact, whatever international strength the Russians have comes first from their endowment of natural resources, in particular oil and natural gas, and also their military."

"Whatever may think about what happened in Ukraine, the world is in a situation where oil is the barometer you want to follow."

"What is happening in China is also potentially very undermining of U.S. interests.  The Chinese are growing closer and closer to Russia."  

"The Chinese are going to need a lot of oil to build out the infrastructure they are planning.  But all of this is setting the stage for a new reserve currency.  I’ve felt this for a long, long time." 

"And I think the three really powerful countries are Russia, China, and Germany.  A reserve currency involving those three countries and gold is the direction the world is headed."

my added comments: 

This is just another example of how there are more and more analysts looking at the future and seeing an end to present monetary system where the US dollar is the world reserve currency. It is not difficult to see the events leading us in that direction if you follow the news. That is what we do here for those who don't have time to track it.

note: To make it easier for readers, we have added a US dollar index chart to the upper right hand side of the blog. This is the key index to watch to see if the dollar is losing value or gaining value.

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