Today a man who has lived in 18 countries around the world, and witnessed collapses in many of these countries firsthand, told King World News “I don’t think the rest of the world is really appreciating what’s happening right now, but portable wealth, and I mean at the very top-end, is going ballistic.” Keith Barron, who consults with major companies around the world and is responsible for one of the largest gold discoveries in the last quarter century, also stated, “I need to clarify here that this unbelievable situation appears to be being fueled by a great many Chinese buyers who are aggressively exiting US dollars.”
Barron: “The situation in Europe continues to be fairly grim. S&P has lowered the credit rating of France in the last week. We have also seen the general strike in Greece, the transport strike in Portugal, and the employment rates are not being improved at all in the PIIG countries....
“So, the situation remains very dire, and if they don’t start to throw massive amounts of QE at the tragedy in Europe, from the ECB, things could really get out of control in a hurry. We are talking about major civil unrest, especially in places like Greece.
While all of this is happening, today we had another all-time high in the stock market in the US. But even as the stock market continues to roar, we have yet another city in California that’s contemplating bankruptcy, just like Detroit did not too long ago.
Now, here is what is really interesting: Luxury goods, meaning portable wealth, are hyper-inflating around the world. This situation is really quite astounding. Christie’s just had an auction of contemporary and post World War II art, and they shattered the all-time record for an art auction.
The total sales from just that one auction were a staggering $691 million. That is a truly outlandish number. Christie’s crushed the record for a single work of art at that auction as well. The $142.4 million art piece appeared, to me, to be purchased by a Chinese buyer.
At another auction, there was a 14.8-carat diamond that sold for $35.5 million. As KWN reported, the next day there was a pink diamond sold by Sotheby’s, also in Geneva, for a breathtaking $83 million. This is truly remarkable what is taking place here.
I don’t think the rest of the world is really appreciating what’s happening right now, but portable wealth, and I mean at the very top-end, is going ballistic. I need to clarify here that this unbelievable situation appears to be being fueled by a great many Chinese buyers who are aggressively exiting US dollars. They literally want to get rid of their holdings in fiat currency altogether and place their wealth into tangibles, particularly portable wealth.
As KWN also reported, this is not just a case of ‘fat cats’ wanting to brag to everyone about their latest acquisitions. These are people who are greatly concerned about the massive printing of fiat money, and they are looking to preserve their wealth.
People should understand that this is a warning of things to come. The super-wealthy aren’t buying these hard assets because they are going to go down in price. These people are connected and they know what the end game is going to be, and so they are moving extremely aggressively to preserve their wealth and their purchasing power from the coming Great Inflation.”
Barron added: “Gold has simply been marking time in a trading range, but it will break out as soon as it gets a catalyst. You can’t have the super-wealthy bidding up the price of hard assets into the stratosphere and have the price of gold staying depressed. It just goes against all logic. At some point the gold bears will be overrun and the next leg higher in this bull market will begin in earnest.”