from King World News
Look at who just warned $20,000-$50,000 gold is coming as global financial system may see crashes in everything expect gold.
A New Global Monetary System
October 10 (King World News) – Dr. Stephen Leeb: If, as I believe, a new monetary system – multinational and backed by gold – lies ahead, should Americans panic? Far from it. Rather than dooming us, it is likely to prove our savior.
When the U.S. ditched the gold standard in 1971 and the dollar still retained its position as the world’s primary reserve currency, it may have seemed as if we could have it all. But there was a big problem: We lost any incentive for monetary discipline, by which I mean focusing on productivity gains to fuel most growth. Being forced to focus on productivity gains incentivizes an economy to make farsighted investments, as opposed to the wanton shortsighted spending we pursued instead.