On the heels of the US Dollar Index tumbling, oil breaking below $40, gold and silver surging, and global stock markets trading lower, today a 50-year veteran told King World News that the silver market is on the cusp of a historic upward price explosion.
John Embry: “Eric, I am absolutely fascinated by the rhetoric coming out of the FOMC Meetings in the United States. The Fed governors know full well they can’t raise rates, but they have to continue the charade that the economy is gradually improving, the U.S. is moving towards full employment, and thus a rate hike is in the offing at the next meeting. Nothing could be further from the truth…
Continue reading the John Embry interview below…
John Embry continues: “From the numbers I look at that are not manufactured by the government, the economy is continuing to slowly erode, the real unemployment number is close to a staggering 23 percent, and there is a much better chance that the Fed will resort to helicopter money in the future, rather than raise rates.
In the midst of the very troubling reality of the U.S. economic situation, the stock market remains in lockdown, irrespective of what the news backdrop is on any given day. If the news is relatively bad, the Dow gives ground but then magically reascends later in the day. This type of interference from central planners in key markets represents a holding action as the powers that be try to buy time in the hope that things are going to take a turn for the better. That is highly unlikely, if not totally impossible.
And I think no one does a better job of explaining that harsh reality than Egon von Greyerz in his many interviews on King World News. But most individuals today are shrouded in cognitive dissonance. They desperately want to believe the government’s misinformation because it means their lives won’t be altered in any material way. However, that is a very dangerous mindset because whenever the inevitable collapse unfolds, they will be utterly unprepared.
Shifting gears to the gold and silver markets, there is a different feel to the trading patterns, despite the usual suspects’ continued interferences in the market. Silver remains particularly interesting given the fact that it has, so far, effectively rebuffed all violent selling episodes. This is particularly unusual given the fact that the Open Interest on the Comex is now at record levels.
Silver Is On The Cusp Of A Historic Upward Price Explosion
In the past, this was always a precursor to a violent smash. But the long participants seem more resilient this time around, and well they should be because silver is unquestionably the cheapest hard asset on the planet. And as a monetary metal, silver is on the cusp of a historic upward price explosion.
I continue to urge investors to increase their precious metals exposure in physical bullion and high quality mining shares that are well-levered to profit from higher gold and silver prices. But a lot of investors have been scared off recently by the explosive moves experienced in the last six months by gold and silver shares. I strongly believe that this is just the opening salvo in what will be a multi-year spectacular bull market. Holders of shares should remain resolute and those on the sidelines better get in as soon as possible…To hear more about the gold and silver markets, listen to the jaw-dropping audio interview with Michael Belkin, the man who advises the most prominent sovereign wealth funds, pension funds, hedge funds, and institutional funds in the world discussing the historic run in the gold & silver markets, what to expect next for gold, silver and the shares and much more by CLICKING HERE OR ON THE IMAGE BELOW.
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