Embry:  “I am deeply concerned about the deterioration of the geopolitical situation.  I think there is no better example of what’s happening than in Japan.  You have the Japanese leader, Abe, who is making a mess of their economy and ultimately their currency and bond markets....

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“But he (Abe) is also very militaristic, and he’s irritating the hell out of his neighbors like South Korea and China.  The last thing the world needs is a flare-up in Asia because the US is allegedly the backer of Japan, and if they were to get involved in some dust-up with China it could have huge financial implications.

I see that Thailand is having serious issues right now as well.  The people are attempting to overthrow the government.  What’s happening in Turkey is also distressing.  The Middle-East is already in an unholy mess, and this instability in Turkey is not helping the situation.  Gerald Celente believes the Middle-East is going to explode in 2014 and I wouldn’t disagree with him.

We also have civil war in South Sudan, in Africa, and we have terrorism in Russia, prior to the Olympic Games.  There seems to be a great deal of instability taking place around the world right now, and historically war has been closely aligned with economic distress.  So quite frankly I find all of these developments very unnerving.

At the same time, it’s irritating to watch the manipulation in the markets for the simple reason that the manipulation has become so obvious and so extreme.  It has gotten to the point that the markets don’t represent anything.  As an example, irrespective of what the news backdrop is they will just pound gold and silver.  This often takes place when there is bullish gold and silver news.

Hopefully this will end soon because what it is leading to is a hollowing out of physical supplies in the West.  The West is continuing to send enormous quantities of gold to the East.  How long this can continue I don’t know, but when it ends the price impact on both gold and silver is going to be spectacular on the upside.

At the same time we have this ongoing false confidence being expressed about the global economy.  The IMF has come out now and stated that they are raising their outlook for the US in 2014.  I just noticed they are also raising their outlook for Japan as well.  If you print enough money you might get a dead-cat bounce in an economy, but what they are not dealing with is the ultimate outcome which is going to be rampant inflation if this continues. 

If the economies ever do improve, inflation is going to go through the roof.  And if they don’t improve, they are just going to print more and more money and inflation is going to go through the roof anyway.  So 2014 is going to be a very, very challenging year to put it mildly.”

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