Barron: Greek Situation Catastrophic, Expect More Black Swans
March 12, 2012
Today one of the legends in the gold world told King World News the Greek situation will be catastrophic as it plays out over time. Keith Barron is responsible for one of the largest gold discoveries in history and consults with major gold companies around the world as well as international brokerage houses. Barron also said investors should expect to see more black swans on the horizon. Here is how Barron described the situation: “As I predicted, there have been massive payouts due to default insurance kicking in. The banking industry has been looking at this and the individuals involved must be thinking they are going to have the same situation the next time Greece defaults.”
Keith Barron continues:
“All they did was kick the can down the road. They have had a lot of time to try to get these contracts worked out. This is what they should have been doing over the last several weeks, working very hard to unwind a lot of these situations.
This will be a catastrophic situation as it plays out over time….