Embry:  “The one thing the central planners of the world can’t stand is for a light to be shined too closely on reality.  One of the things KWN interviews are doing is pointing out the fact that things aren’t as they are being portrayed....

Continue reading the John Embry interview below...


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

money and which $7 billion company John Embry &

Dr. Marc Faber oversee click on the logo:

Eric King:  “Having said that, John, you’ve been doing this for half a century, what are your thoughts as you see this ‘Orwellian nightmare’ unfolding?”

Embry:  “Quite frankly I think I’m on a different planet.  Things have changed dramatically.  We didn’t have this fast-paced news transmission years ago.  The advent of the internet has changed the whole dynamic.  KWN releases news to the world almost instantaneously.

All of the new financial innovations, the high frequency trading, the algorithm programs, none of this existed when I was much younger.  And yet it has had an astounding short-term impact on markets.  Almost without fail, at 3 AM in the morning (east coast), when the London traders report to work, gold gets hammered.

They do this almost every single day now.  These kind of things didn’t happen years ago.  Markets were largely legitimate, but today they no longer represent reality.”

Eric King:  “John, you remember the Nixonian ‘price controls.’  They ultimately failed, but are we living through a modern-day version of a similar policy today with these phony, price-controlled markets?”

Embry:  “Yes, but there is one major difference between then and now:  Then, you could have a Volcker ride to the rescue and put in interest rates that were staggeringly high -- and we bought another complete 30-year cycle out of it.  But that avenue is now gone because of the enormous debt that was created in the subsequent 30-years after Volcker helped save the financial system by hiking interest rates to nearly 20%. 

Now, you would have a complete and utter collapse of the financial system if something like a ‘Volcker-style’ policy was undertaken.  So I would suspect we will go the opposite direction and see ‘QE-to-infinity’ because whenever central planners attempt to withdraw the punch bowl, bad things immediately start to unfold.  The bottom line is that everyone has to have some physical gold and silver in their portfolios as an antidote to the nightmare that is still in front of us. 

I would just add that I think the reason there is a growing global army of KWN followers is directly related to the fact that people know something is wrong, and more and more people are sensing that the financial system is now in fact in a terminal state.”

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© 2013 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 audio interviews with Eric Sprott, Grant Williams, Rob Arnott, Andrew Maguire, Art Cashin, Egon von Greyerz, Bill Fleckenstein, David Stockman, Robin Griffiths, Jim Grant, William Kaye and Dr. Paul Craig Roberts are available now. Other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.

Eric King

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