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Barron:  “Right now we are literally lurching from crisis to crisis.  It used to be on a yearly or six month basis, but now it seems like a weekly basis, and sometimes even an hourly basis.  We are headed down a windy road toward a mountainside and we don’t have any brakes....


Continue reading the Keith Barron interview below...




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“We will eventually head over the cliff -- it’s inevitable.  What we have already started to see in the 3rd world countries are the inflation rates and interest rates going up.  These countries are finding it harder to borrow money.  This is a harbinger for what is going to happen in the West.


The situation in Europe is also becoming more critical by the day.  It’s not sustainable for the Germans to continue handing the PIIG countries more and more money.  Austerity has failed to help the situation, and has only increased the suffering of a great many people.


With mass unemployment, certainly in a place like Greece we have seen the emergence of what looks very much like a modern day Nazi party.  I don’t think anybody dreamed we would have seen this sort of thing happening.  But this is what is going to happen because these countries can’t handle any more austerity.


A lot of these countries have unemployment rates that are in the 30% range, and close to 60% for youths -- that’s something that is ripe for a revolution.  It always has been in the past and will be in the future.  We may see the euro breakup as a result.  It could be countries like Finland or Austria that initiate leaving the euro because they no longer want to fund the Mediterranean countries.  If that takes place, then the euro will start to break apart.


It is also important to note that the global stock markets are in the process of topping out.  KWN published a chart earlier today which shows why stocks may be set to crater.  So we may see the general stock markets really begin to plunge here.  But having said that, I think there is one hell of a buying opportunity in gold, silver, and the high quality gold producers and the junior mining companies.


I think the potential here for big profits is just as good as it was after the 2008 crash.  When you look at the tremendous demand for physical gold around the world, India is a great example.  Even though the Indian government has punitive taxes on gold imports, it looks like India is going to import 1,000 tons this year.


China will also import over 1,000 tons.  Between these two countries alone, they will consume almost the entire annual mine production for the entire world.  These two countries are taking up a staggering amount of physical gold between them.  So the supply of available physical gold is shrinking all the time. 


The Asians are buying like crazy because they see this as an opportunity while the price is low.  They are grabbing as much as they can, while they can.  Meaning, it is going to get more and more difficult to acquire physical gold in size if the price remains low.  The supply is just drying up here.


There are a bunch of people out there saying higher interest rates are negative for gold, but if you were to look at the correlation over history, certainly higher interest rates means higher inflation, and this has always meant good times for gold.  What we saw during the 1970s was gold soared 25-times in price, even as inflation and interest rates both headed much higher.  Actually, we are seeing the gold price soaring in India as the rupee collapses and inflation surges.


But the gold and silver markets are really activated by bad news, and there’s lots and lots of bad news out there and I can promise you more is on the way.  Right now the metals have been getting whipsawed.  Gold rallied significantly on the heels of the big drop the other day after the head of the Boston Fed said that the economy and job situation were both far too soft to contemplate any tapering at all.


This has been my sentiment for a long time -- the US economic situation is just too weak to taper.  The Fed made a big mistake by telegraphing that they were going to taper.  This sent interest rates higher and crippled the economy even further.  The economy can’t handle higher interest rates.  So the US government has to attempt to keep interest rates artificially low for as long as possible.


The reality is that right now Western central planners are trying to hold off this collapse for as long as they can, but when it finally comes, it will be a monster collapse.  I have lived in countries when they have imploded, but this one will be particularly ugly.  People had better make sure they are prepared because once it starts, it will be too late.  This collapse will be one for the ages and you don’t want to be scrambling during that chaos and trying to accumulate things like physical gold because the system will be breaking down.”


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Robin Griffiths, Jim Grant, Gerald Celente, William Kaye, Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott, Andrew Maguire, Grant Williams, Bill Fleckenstein and Egon von Greyerz are available now. Also, other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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