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Barron:  “I’ve been working at my gold mine in Montana, accumulating gold ounces, which is a hell of a lot of fun.  I have to tell you that owning your own gold mine is like having your own printing press.  It’s the ultimate in financial freedom.  It’s the greatest thing on Earth....


Continue reading the Keith Barron interview below...




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“We have been working at this seven days a week and will continue until after the frost comes.


If you look at the gold price, they always seem to smack it when the commitment of traders report gets too imbalanced.  But we’ve seen some interesting things over the last couple of weeks.  We saw a good old-fashioned bank run in Portugal.  The problem is that things have been papered over but the fundamental problems have not been fixed.  We see this all over Europe and in America.  Well, eventually these problems come home to roost.”


Eric King:  “We’ve seen this banking crisis flare up again in Europe.  You had been warning about this for some time and all of a sudden the dominoes are starting to topple.”


Barron:  “You can’t have a situation like you have in Spain, Portugal, and Greece, where you have roughly 30 to 40 percent unemployment, and have a healthy economy.  There are going to be strains and something is going to break.  We know that Malta is in trouble now. 


All these problems indicate that none of the problems has been fixed at all.  Mario Draghi just jawboning and saying they will do whatever it takes to make the situation good -- that kind of rings hollow.  They may be able to sort things out in the very short term but any savvy person knows that there is no substance behind it.


What they have to do in Europe is get people back to work.  Most young people under the age of 25 have no work.  We are talking more than 50 percent unemployment and in some cases as high as 60 percent.  I think this will end in a breakup of the euro and a repudiation of debts.  It will also mean coming out with their own national currencies they can inflate.


This is really the crux of the problem.  None of these countries has the reins on its own currency.  So when they are fiscally irresponsible they can’t just print money as they do in the U.S. and just throw money at it.  This is causing major problems and even social unrest.


I was in Spain recently and there was graffiti all over the place.  I was in Greece before that and when I would talk to taxi drivers it’s kind of funny because they always know what’s going on.  All I heard were tales of woe from them.  It’s remarkable because with some of the tourist companies, they get paid in U.S. dollars offshore rather than in local currency.  So the tourists have some of the greatest bargains you will ever see, especially compared to what the locals have to put up with.


The local people are complaining about the cost of the subway going up, the cost of bus rides going up, and food going up.  You name it and it is inflating.  Everyone is complaining about inflation.  But if you are outside the system and getting paid offshore, you are in good shape.


Wherever I went on my travels recently, they were asking me to pay cash for various things so it wouldn’t get recorded in the books.  For instance, you would take a taxi and they would say, ‘You’ve got to pay another 3 euros.’  You say, ‘That’s not what the meter says.’  They say, ‘Yes, but that’s just the way it is.’


This means they are not recording it on the meter because the meter is regulated and that has to go to the tax department.  Everyone calls it ‘black money.’  Everyone has some sort of a dodge going.  They want to get paid extra or they want to get paid under the table because they are just barely scratching out a living if they are working at all.  People have to get creative to survive and this is how they are doing it.”


IMPORTANT - KWN has many more interviews being released today.


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The audio interviews with Eric Sprott, Bill Fleckenstein, David Stockman, William Kaye, Dr. Stephen Leeb, Paul Craig Roberts, John Hathaway, Gerald Celente, Grant Williams, Andrew Maguire, Egon von Greyerz and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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