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Embry:  “The West is headed into a historic collapse, and we have all of this misinformation in the mainstream media which is designed to fool people.  We are in the middle of the biggest financial bubble in the history of mankind.  The Fed and the Bank of Japan are combining for over $150 billion of QE each month.  Mario Draghi, head of the ECB has already come out and said they will backstop all European debt....


Continue reading the John Embry interview below...




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“The Chinese are reigniting their bubble because they saw the pain that was created by even the slightest tapering in their monetary stimulus.  So, the fact that the mainstream media claims nothing really bad has happened so far is only testimony to the fact that they are throwing all caution to the wind and pumping all the money they can into the system because we are now in a historic end game.  We are either going to have a collapse to end all collapses, or we are going to have hyperinflation.


I am comfortable that the bottoms are in with regards to both gold and silver.  These markets went through some difficult times, even recently, when we had all of these big banks, including Goldman Sachs, calling for gold to go to $1,000.  But these large banks have no credibility in these markets at all.


The one thing we do know for sure is the mining industry itself has absolutely been crippled by the price levels that are currently in effect.  If this (price destruction) were to continue much longer, I think gold production would fall materially.  So, I don’t think it’s going to happen.  Instead, I firmly believe we are going to have an explosion in the prices of both gold and silver in the not-too-distant future.  The fact that virtually everyone is wrong-footed and negative is the perfect sentiment backdrop.


There is also this constant drivel in the mainstream media about things getting better everywhere, and yet if you really get inside the numbers that isn’t true.  The fact is the world economy is struggling, and there is infinitely too much debt.  Because of this reality, you don’t get much bang for new debt, and the West is just building up an ever-greater bubble that is more and more vulnerable with each passing day.


Gold has now moved above a short-term resistance level, which is positive.  If we can hold $1,350 for a few days we may be off to the races sooner rather than later.  But what is of great importance is this continuing shift of gold out of England, through Switzerland, to the Far-East.  I don’t know what in God’s name the Western leaders are thinking.  This reality is this will end in disaster for the West.


For whatever reason the West seems to be very content with the Chinese buying every available ounce of gold on the planet.  Gold goes where the wealth is being created.  The fact is that after World War II the Americans had all of the gold.  Well, where we are headed now, the Chinese are going to have it all, and that doesn’t portend a great future for us here in the West.


I’m surprised this is all unfolding this way.  But we are now in the end game here, and we when the end game is on, desperate people do desperate things.  I guess I’m just surprised that the Western elites are allowing this real wealth, gold, to head East at such an accelerated pace.”


Eric King:  “John, you remember how the prices of gold and silver exploded roughly six times higher in price in the early 1970s as the London Gold Pool was overrun.  Are we nearing a point where this latest Western ‘Gold Pool’ is going to be overrun?”


Embry:  “Yes, but this time the fundamentals for higher gold and silver prices are materially better than they were in the 1970s.  The other thing that doesn’t exist today is the capacity for doing what Paul Volcker did in 1980, and that is to hike interest rates to remove inflationary expectations.  This means that when the next inflation gets going there will be no way to stop it.  So, on that premise the gold and silver prices are headed significantly higher -- far beyond what 99% of the population thinks is possible.”


Embry added:  “I just want to add that Andrew Maguire is exposing the truth about the true state of the gold market, and how vulnerable the paper gold Ponzi scheme is.  The bottom line is gold and silver are going multiples higher than they are now, and he will  be proven correct about the LBMA paper system imploding.”


IMPORTANT - The tremendous KWN audio interviews with billionaire Eric Sprott/AndrewMaguire & Dr. Paul Craig Roberts are available now and you can listen to them by CLICKING HERE.  


© 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

KingWorldNews.com

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