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All Of My Bags Were Searched & They Were Looking For Money

Today a legend in the business told King World News, “When I entered the country a couple of days ago, all of my bags were searched for money.” Keith Barron, who consults with major gold companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, spoke with KWN about his bags being searched on his travels and what is going to cause gold to explode higher.

He also spoke about the chaos in Argentina. Here is what Barron had to say: Today we saw the gold price on the move as a result of the FOMC meeting. The Fed verified that quantitative easing is going to continue and the numbers are getting bigger each month. The reality is we have populations in Europe pushing back on governments trying to impose austerity.”

Keith Barron continues:

“You are not going to see the Obama government get rid of any entitlements. They will simply keep kicking the can down the road by increasing the debt ceiling. But these things do have consequences. Right now I am in Argentina, which is literally experiencing 30% inflation, and the effects of inflation here are very serious.

When I entered the country a couple of days ago, all of my bags were searched for money. Specifically they are looking for US dollars to make sure I don’t buy anything on the black market. All of the ATM machines are limited as to how much cash they will let foreigners take out of the ATM’s....

Continue reading the Keith Barron interview below...

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“The Kirchner government has said this is in the best interests of the tourists so that they don’t get robbed. That is complete BS. I spoke with a taxi driver yesterday and he said, ‘Look, it’s because they don’t want you to pay cash for anything.’ Everyone wants to get cash so they can get paid under the table because the taxes are so high here (in Argentina).

Like I’ve seen in many other countries before with rampant inflation, everything is moving off the record and into the black market. The cost of living is skyrocketing for the locals and it’s a very dire situation here in Argentina. I don’t think this will continue for too long before something breaks because the people are starting to get quite angry.

Circling back to the US, today was about verifying the inflationary stance of the Fed and that’s a bullish thing for gold. So we are going to see more measures that will be more inflationary for the US, which is why it’s so appropriate that I am able to pass along what is happening here in Argentina to KWN readers because at some point the US will be in a similar state.

It is also worth noting that the central bank of South Korea has been buying gold. I suspect the Chinese are also aggressive buyers as well. Just last week, two more governments announced they were buying gold and at the same time talk is continuing about Germany repatriating some if not all of their gold reserves.

This German situation is pretty important because as we know over the last several decades these various countries have been lending out their gold reserves. These leased gold reserves get borrowed by somebody that immediately sells them and plays the carry trade.

Countries like Germany and others are now getting worried that they won’t get their gold back. Years ago when Drexel Burnham Lambert went under, they had borrowed 17 tons of Portuguese gold. When Drexel failed, the Portuguese never saw their gold again because their claim just evaporated.

Because of what happened to Portugal in the Drexel failure, and all of the turmoil in global financial markets, countries are starting to demand their gold back from the Fed and also from England. With governments like Germany beginning to look to take their gold out of the ‘rental pool,’ the amount of gold available to be leased out is rapidly shrinking.

This is the type of setup that will lead to a major upward move in the price of gold. At some point there will be a panic into gold as investors wake up to what has really taken place in the gold market. The gold is simply not in the Western central bank vaults, it’s been leased out.”

The extraordinary audio interview with Chris Powell covering “Holy Grail” evidence of central bank manipulation in the gold market has now been released and you can listen to it by CLICKING HERE.

The interviews with Chris Powell, Bill Fleckenstein, Egon von Greyerz, John Hathaway, Ben Davies, Dr. Stephen Leeb, Eric Sprott and Gerald Celente are available now. Also, be sure to listen to the other recent KWN interviews which included James Turk, Michael Pento and Wilbur Ross by CLICKING HERE.

Eric King

KingWorldNews.com

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