Embry:  “I’m fascinated with the silver picture for the simple reason that there seems to be well-documented evidence that demand has picked up significantly, particularly with regards to what my business parter, Eric Sprott, said in his KWN interview....

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“Industrial demand for silver remains solid, and there are compelling reasons for people who understand what’s unfolding in the financial space to be adding to their silver position because silver is so cheap.  Yet the question I cannot answer is, where is the physical silver coming from to back up this paper takedown we have seen?

I have spoken to a great many people around the world about this and I cannot get a satisfactory answer.  Are they raiding the silver ETF SLV?  Are there secret caches of silver which have been created that we didn’t know about that central planners have been able to dig into?  What I do know is that eventually this continued abuse in the silver market is going to have an enormous impact on the price.  When that day comes, if investors aren’t positioned properly it will be too late.”

Embry added: “I am also focused in this emerging global stock market bubble.  Stock markets have been stronger across the globe.  The front page of the Financial Times was saying Google was at record levels, and it was great news for the world economy.  I don’t think that’s the case.  What we are seeing here is simply ‘bubble economics.’

China sort of tried to rein things in in the spring, and the US kept talking about tapering.  And then we got into all of these emerging market problems and interest rates in those countries began to go rocketing higher.  So it became apparent that the liquidity needs in the world were extreme.

Not surprisingly, the Chinese went back to printing money hand-over-fist and they are bubbling away once again.  The Americans declined to taper and this has fed in to the markets in North America.  But this is unsustainable and it will eventually lead to a bust or hyperinflation.  I watch with great interest as to which of the two dire outcomes will ultimately unfold.

The reality here is that once a nation or nations go past a certain point, there is no turning back.  You have to either destroy the debt structure, which is a hard-debt deflation, or you destroy the currency by printing more and more until you see a hyperinflationary collapse.  There will be no other possible outcome to this scenario other than the horror of what I just described to you.  Regardless, one way or another we are looking at a frightening end to all of this.”

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