Eric King:  “With the gold and silver markets struggling, investors in both gold and silver continue to revisit the fundamentals to make sure the bullish case is still intact.  Gold and silver are in historic secular bull markets, but what about the fundamentals, Keith?”

Barron:  “The money printing hasn’t abated around the world, and I can’t think of a country that’s decided to become fiscally prudent.  The thing that is the real game-changer here is the purchases of gold being made by the Far Eastern countries such as China....

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“China has purchased almost the entire world’s annual production of gold in the last year.  This is incredible.  Investors have to think about this:  What is the ultimate game plan here for the Chinese?

I believe that the Chinese eventually want to replace the dollar hegemony with the yuan.  They will be in a position to do that at the rate they are accumulating gold.  I think the world is headed into a situation where gold is going to be routinely quoted in three currencies.

Meaning, we will see what the currencies are worth in relation to gold, rather than the other way around.  I expect gold to be quoted simultaneously in dollars, euros, and renminbi.  I believe that is definitely in our future.

All the countries in the West try to minimize the value of gold, but gold continues to be held by central banks all over the world, including the International Monetary Fund, as a reserve.  Despite the West’s maintaining the stance that gold is a barbarous relic, the Russians and the Chinese have been stockpiling large amounts of gold, and much of the gold they are acquiring is being liquidated out of Western vaults.

When you contrast what the East is doing with what America is doing, you can see why the West is in real trouble here.  The U.S. encourages its citizens to go out and spend their savings on consumption, and even to rack up large amounts of debt in order to consume.  This is all going to come to an end one day.

Certainly in China the authorities there are not telling their citizens to waste their money on consumer goods.  They are encouraging their citizens to save in gold and put it in a safe place, and to be fiscally prudent.

You have to go back to the Norman Rockwell era, when the message from presidents like Eisenhower was for Americans to be fiscally prudent and to save.  That’s certainly not the message these days, and this is why America is headed for a tragic day of reckoning.”

Barron added:  “I was reading today that Germany has 8,000 business interests in Russia.  So are the Germans about to destroy their relationship with Russia over Ukraine?  I don’t think so.”

IMPORTANT - KWN has an all-star weekend with 3 extraordinary audio interviews being released, and many more written interviews being released today.

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