Barron:  “The usual suspects are up to the same shenanigans in the gold and silver markets, but the reality is that physical demand still very, very strong.  Premiums are still high in places like Vietnam, Thailand, China, etc.

It’s interesting that new taxes on gold were introduced in India as the government attempts to clamp down on Indian tremendous demand for physical gold.  The Indian government is desperately trying to get people to invest their money in anything else but gold, but it’s not working....

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The Indian government’s attempts are failing.  The Indian people are savvy gold investors and they know the price is cheap right now and so they grabbing all of the gold they can with both fists.  Gold is the last thing an Indian household will part with.  Gold is wealth that gets transferred from generation to generation in India.

To the Indians and many other cultures around the world gold is money and governments will not be able to convince the people differently.  All we are seeing right now is an increase in smuggling of gold into India.  So the government’s attempt to stop the flow of gold into India is failing.

If we turn our attention to the United States, the economy is way too fragile for the Fed to taper back on QE.  If that money is withdrawn from the system, you will see a major collapse.  The reality is the economy can’t handle higher interest rates.  Higher interest rates would literally crush what is left of the economy. 

The fact that bond markets have recently been plunging is just a sign that people are losing confidence in the system.  But that was bound to happen in phony markets where governments are buying up their own debt.”

Barron also added: “This system is not a free, open and transparent system.  The current system is built on fraud.  Dollars are being created to buy Treasuries, so it’s a fixed game.  We’ve never seen this sort of coordinated global market manipulation in world history.

This is really an unprecedented situation and it will certainly end in total disaster.  Reckless generation of money has always led to great inflation.  It just shows the depth of the seriousness of the situation right now that a great inflation has not yet taken hold.  

But the bottom line is things are fragile not just in the US, but also in Europe and around the world.  In this type of environment I can pretty much guarantee you that some kind of black swan event is coming.  When the next black swan appears we will see even greater chaos and devastation as people around the world come to grips with the fact that they have been spoon-fed Joseph Goebbels (Nazi style) propaganda and lied to by their leaders.”

© 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 James Turk, John Embry, Dr. Philippa Malmgren, Bill Fleckenstein, Eric Sprott, Stephen Leeb, Rick Rule, Gerald Celente, Jim Grant, Egon von Greyerz and Art Cashin are available now.  Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King

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