Barron:  “We are going to see destructive inflation creeping around everywhere.  Household goods, groceries, medical costs, insurance, things like that are going to continue to surge in price.  So, despite the propaganda, yes, inflation is happening in America and elsewhere....

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“But the end game for America will come when people don’t want to hold their currency anymore.  At that point, you will have this incredible velocity of money as people holding dollars panic out of them.  Here is an early warning sign, or indicator:  There are some very curious things going on right now, and this has to do with the international art market.

For people who follow the various auctions at Sotheby’s or Christie’s, the amount of money they are getting at these auctions for fine art is unimaginable.  We are seeing astonishing 100% gains in just 6-to-8-months, in many cases, for fine art.  These art pieces are flying out of the auction houses at stratospheric prices.

So, people don’t understand, and they wonder to themselves, ‘What is happening here?  Is this because people are making such incredible amounts of money?’  Here is the answer:  We are seeing money coming in from Russia, China, as well as other nations, but the reality here is that these people want to hold tangible assets. 

Remember, this is the ‘smart money.’  They know what is coming and they want to acquire things that will hold their value.  Nobody is making genuine Monet’s anymore so it is a very elite and limited market.  The reality here is that governments can’t manipulate prices of fine art like they do with prices of assets which compete as currency for the masses such as gold and silver.

So we are seeing incredible inflation in fine art and luxury goods.  But this is very telling because it’s going to move down the food chain, into other key markets such as gold and silver, and it is also the type of thing you see before a massive inflation begins.”

Eric King:  “Keith, you’ve lived in various countries as great inflation or hyperinflations have taken place.  It appears that these sophisticated buyers are connected and they know the end game that is coming -- the fact that a great inflation is still to come.”

Barron:  “Absolutely.  This is the ‘smart money’ -- some of the smartest money that’s out there.  These are not just people who have money to burn.  They are doing this in order to preserve their wealth ahead of the coming super-spike in inflation.  They are buying everything of high quality they can get their hands on that will hold its value.  Meaning, they are jettisoning paper assets and currencies and buying fine art, diamonds, collectibles, etc.

People don’t realize it, but there was a special division created in the United States army during World War II that the US established just to preserve highly valuable confiscated works of art.  Fine art is kind of like currency.  People bought their way out of trouble with things like fine art during the chaos of World War II.  So, yes, this is the smart money that is acquiring these valuable items ahead of the coming great inflation and ensuing chaos.

Remember, this is not bricks and mortar stuff.  These are highly valuable items that can be easily transported.  It is worth noting that we are also seeing a revival in the diamond market, where high quality diamond prices are surging.  Again, this is portable wealth and the smart money is buying it.”

Eric King:  “What I’m hearing from you is the ‘smart money’ is basically liquidating their paper assets and buying tangibles because they know what is coming.”

Barron:  “That’s correct.  This is exactly what is happening.  As I said earlier, right now we are seeing a doubling in prices of art works in a remarkably short period of time.  Annualized, you are looking at incredible inflation rates -- a technical hyperinflation in the art world. 

Unfortunately, this is a harbinger of what is still to come around the world with regards to the broader global economy.  Remember, the art market is international.  So, we are not just talking about America, and people or entities with dollars they want to get rid of.  We are talking about people in the Middle-East, the Far-East, and all over the world, who have paper currencies they want to dispose of ahead of the chaos and restructuring that they know is coming. 

KWN readers around the globe should be aware that the coming ‘Great Inflation’ will shock the world and it will also eventually translate into a mania in the precious metals and mining share markets.”

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