John Embry continues:

“The mainstream was that China would become a nation of consumers, but it’s not quite happening as predicted.  I would dare say their consumer is weakening as fast as their economy, and with the overcapacity, they just can’t continue to build these government projects. 

I would also add that Spain continues to put on a brave face publicly, but one year ago the Central Bank of Spain was borrowing north of $70 billion from the ECB.  The most recent figures show the Central Bank of Spain has been borrowing $531 billion, which is a dramatic increase year-over-year.  That’s ridiculous.  These guys are saying they don’t need that big of a bailout, but they need a massive bailout....

Continue reading the John Embry interview below...


To hear what billionaire Eric Sprott & Rick Rule are doing with their own

money and which $10 billion company John Embry &

Dr. Marc Faber oversee click on the logo:

“That brings us back to Germany, and everything coming out of Germany is a flip-flop.  I’m beginning to wonder if the Germans are willing to debase their money to the level that is necessary to keep the Southern peripherals afloat.  So I’m deeply worried about the direction of the global economy over the next six months. 

One important statistic that went unnoticed last week were Japan’s exports to Europe.  They were down a staggering 25%.  That’s an enormous drop for an exporting country such as Japan.  I also noticed that the EU is projecting even weaker growth in Europe for the third quarter.  What are Japan’s exports to that market going to look like then? 

So I think the global economy is deteriorating as we speak, which is going to create a panic from the central planners, and in that panic they will print money to a degree that even the optimists on money printing can’t even imagine.”

Embry had this to say regarding gold and silver: “Eric, we have the most beautiful setup in the world here.  The fundamentals for gold and silver could not be better.  Yet the public is not even in those markets.  They don’t even care.  So sentiment is negative.

The bases that gold and silver have built will underwrite massive moves to the upside.  Everything is now in place, and I think it’s all going to come to a boil this fall.  I would add that I am wildly bullish on silver.  I still believe it will take out the all-time high before the end of the year.

Eventually the public will enter these markets with a vengeance, and the masses will turn to silver because it trades at a 1/50 ratio to gold.  That opens the silver market up to a lot more people.  Gold may be the rich man’s refuge, but silver will be the refuge for the rest of the world.  So there will be an enormous gain in price as the money flows into the already tight silver market.

In a debt-logged world, with a weakening economy, you are going to have massive money printing if you don’t want a complete collapse.  Gold and silver will be the go-to investments going forward, as the central bankers continue to destroy their currencies.”

Embry also spoke about his greatest fear: “My greatest fear is that the system could undergo a breakdown to the extent that supply chains could be interrupted.  We’re so used to getting things immediately, on time, with unlimited selection, that it would come as an enormous shock to society if that suddenly stopped.

That is my greatest fear, that things could become sufficiently crippled in the financial system that it could lead to breakdowns in the supply chains.”

There was a delay in publishing the extraordinary Eric Sprott audio interview due to internet problems within the US, but it now available.

© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

The interviews with John Hathaway, Eric Sprott, Jean-Marie Eveillard, John Mauldin, Gerald Celente and Ben Davies are available now.  Also, be sure to listen to last week’s line-up of other KWN interviews which included Rick Rule, Egon von Greyerz, Bill Fleckenstein, Dr. Keith Barron and Nigel Farage by CLICKING HERE.

Eric King

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© 2012 by King World News®. All Rights Reserved. This material may not be published, broadcast,

rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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