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Embry: “To begin with I think this whole fiasco in gold is predicated on two factors:  We have a financial and economic situation in the Western world to which there is absolutely no palatable solution, despite all of the garbage you are reading in the mainstream media.


Thus our so-called leaders who are faced with this conundrum are reduced to market manipulation, falsifying economic statistics, and printing whatever money is required to keep the system afloat....


Continue reading the John Embry interview below...




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“This unfortunate reality must be kept from the public, and gold and silver as the canaries in the coal mine must be viciously suppressed.  A couple of months ago I wrote an article talking about how manipulation of the gold market is at an all-time high. 


I then listed a number of the positive fundamentals that were going on, and if you look at the current situation with an open mind, in reality there are no negatives in the gold situation.  I stated that “With the advent of powerful computers, sophisticated algorithms, mountains of derivatives, as well as other arcane instruments, the ability to manipulate markets and suppress prices has reached a point never before imagined.”


Then, when you apply that to the small gold and silver markets where you have relatively tiny physical markets but massive paper markets sitting on top of them, it’s not all that difficult to effect what (the price drop) they did.  But I must confess, having said all of that, I am amazed they have able to pound gold down this far given the physical offtake that is occurring.  You are getting anecdotal evidence that retail outlets are being cleaned out across America.  They are not fooling the real people that know what is going on.


But in the paper market it has been an absolute disaster.  My greatest concern right now is that people who are positioned correctly for what is coming, this financial and economic tsunami, they are being driven from the market by fear.  It’s going to be a tragic mistake.


I wrote a note for our staff on Friday and said, “Do not sell your positions.  This is an orchestrated takedown to encourage you to do just that (sell out).”  I guess what we went through was just about as violent and unpleasant an experience as we’ve had in the whole bull market, which is now over 12 years in duration, but when we look back on this period two or three years from now, I think it will look like a small blip on the chart.


However, I will say that I think it does absolutely nothing to the long-term outlook for gold, which is extraordinarily positive.  More importantly, this will be the last opportunity to buy gold and silver at bargain basement prices.  I also think the next move higher is going to take them in to new territory and we will never see these prices ever again in this current monetary system.”


IMPORTANT - KWN will release part II of John Embry’s interview out later today.


© 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 Gerald Celente, Dr. Paul Craig Roberts, Andrew Maguire, Michael Pento, John Embry, James Turk, Art Cashin, John Mauldin, Egon von Greyerz and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Eric Sprott, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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