China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold

by Lobo Sun 23 Aug 2015, 2:43 pm

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China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold

by Lobo Sun 23 Aug 2015, 2:43 pm

China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold
11991 Views August 23, 2015 GOLD, KWN, KWN II King World News

China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold KWN-Ing-I-6122015-864x400_c

After a week that saw global stock markets reeling, today one of the top money managers in the world told King World News that China may be in a state of chaos, but they possess a staggering 15,000 – 18,000 tonnes of gold.
Stephen Leeb: “Right now you have some questions emerging about China. Maybe I’m the only bull left on China but I still think that China will come out of this and I still think commodities will see another ray of light….
Continue reading the Stephen Leeb interview below…

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China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold GoldSwitzerlandMAM-King-World-News

China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold KWN-Leeb-II-8232015-copy

Trouble In Saudi Arabia And The Oil Market & What This Means For Gold?
“You should see much, much higher oil prices (going forward). Low oil prices have put tremendous pressure on Saudi Arabia and they just can’t maintain that. Fighting wars and low oil prices just don’t make a lot of sense for a country whose only source of real income is oil.
They (Saudi Arabia) have had to borrow money in the debt markets, so there are a lot of reasons to believe that the oil price should come back. The wildcard clearly is China and this does tie directly to gold. If China really is seeing major outflows of currency, and there certainly are signs that there are outflows, one thing they can do very quickly and very easily is start buying more gold and start ratcheting up the price of gold.

China May Be In Chaos But They Possess A Staggering 15,000 – 18,000 Tonnes Of Gold KWN-Ing-I-6122015

China Possess A Staggering 15,000 – 18,000 Tonnes Of Gold
My feeling is that this will probably be their strategy. China has much more gold than what was recently indicated by their central bank. The real number (of their true gold reserves) could be 15,000 – 18,000 tonnes (including gold held by the state-owned banks). And the central bank is free to take as much gold as they want (from the state-owned banks, etc). And if the price of gold goes up 10 percent, so does the amount of their true reserves.
But longer-term China will be successful. You will see a Silk Road and a massive spend on infrastructure and a massive reversal on commodities. As I look at China today they still have a lot of rabbits they can pull out of the hat. They still have close to $4 trillion in reserves. But the only real viable asset on the screen is going to be something like gold or gold related….”

http://kingworldnews.com/china-may-be-in-chaos-but-they-possess-a-staggering-15000-18000-tonnes-of-gold/