Embry:  “There is so much bullish propaganda coming out of the US about the economy.  I wasn’t interviewed on KWN last week because I was away celebrating my wedding anniversary with our annual trip to San Francisco....

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“I’ve been to San Francisco with my wife 40 times, and I have never seen the city of San Francisco slower at any time in the past 40 years.  I went shopping for Christmas gifts, and normally there would be lines out in the street at some of these places.  Instead, I went right in with no wait, made my purchases and went straight to the cashier and paid without waiting.

So there is something strange going on.  Everyone is saying the US economy is strengthening, and President Obama was saying today that there could be a real turnaround in 2014.  I see all of this as propaganda and outright lies because from what I observed with my own eyes, the bullish talk is patently false.

I don’t see the strength in the US economy at all.  They just had about the third or fourth upward revision of the 3rd quarter GDP.  And now, because the consumer had not been doing well, they cranked up the consumer numbers in the latest adjustment.  So I think there is something seriously wrong, and as a result they are falsifying a lot of data in a desperate attempt to try to cover it up.  But I strongly believe that the harsh reality will become all too obvious as 2014 unfolds.”

Embry added:  “I’m also focused on precious metals prices because it’s an area that represents extraordinary value.  The discrepancy between what’s taken place in the paper market and what’s been transpiring in the physical market is something to behold.

You’ve done a great job at King World News with your interviews with Andrew Maguire, which focus on the physical aspects and how staggering amounts of physical gold have been leaving the West and going to the East.  As an example, one of the individuals in London recently said the vaults in London are empty.  He had seen the vaults in London 2 years ago and there was quite a bit of gold in them.  Now he is saying they are ‘empty.’

If you look at what is going on at the Comex in terms of inventories, they have fallen to record lows.  So this is very odd -- the price of gold falls, and yet the availability of physical gold is literally collapsing.  I have never seen anything like this in my entire career.  So something is going to have to dramatically change in the not-too-distant future because this manipulation cannot be sustained.

I would also add that I was fascinated by an op-ed piece in the New York Times, written by none other than Gordon Brown, the former British Prime Minister and Chancellor of the Exchequer.  This is the very guy that sold Britain’s gold back in 1999 in that infamous auction that bottomed the gold price at $250.

But in this op-ed piece he said we are headed toward another crash because there hasn’t been enough cooperation globally between all of the various countries.  The interesting thing here is he is an insider, and what he is saying is at complete odds with all of the propaganda you are seeing in the mainstream media.  I was absolutely amazed to read the truth coming out of somebody like Gordon Brown.

As an example, when you look at the tapering the US Fed just announced, it was akin to moving around the deck chairs on the Titanic after it was struck by the iceberg.  It doesn’t make any difference because it’s already too late.  The fact is they are still printing $75 billion a month because they are trying to keep the system from collapse, and if they have to print $150 billion a month they will. 

Whatever is required, they will do it, and eventually they will have to print $150 billion a month.  But the tapering was all orchestrated, and the stock market shoots up and gold gets hit again.  This is just preposterous.  The fact that they have been printing all of this money is so that the banking system won’t implode, and they will continue to print and eventually print more than $85 billion because if they don’t the whole banking system will collapse.

My optimism on gold and silver is absolutely unshaken, despite the dreadful year we’ve experienced as the paper boys won a big round.  The fact is that gold and silver are as cheap in relation to their true fundamentals as they have ever been in history.  The one thing that I’m extremely comfortable with in my own personal portfolio is physical gold and silver in my own possession.”

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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 James Turk, Dr. Paul Craig Roberts, Andrew Maguire, Michael Pento, Rick Rule, Gerald Celente, Dr. Marc Faber, Bill Fleckenstein, Eric Sprott, Grant Williams, Egon von Greyerz and David Stockman are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.

Eric King

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