Embry:  “I’m focused on the better tone in the gold and silver markets.  It’s been a long struggle, but with all of the information that’s come out recently regarding how tight the physical market is and the fact that the paper gold market really is one of the greatest Ponzi schemes of all-time, I think we could finally be on the cusp of a huge move in gold....

Continue reading the John Embry interview below...


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“I’m not talking $100 to $200 move for gold. I mean gold going back to the old high of  $1,920 in a fairly short period of time.

One thing that drove me crazy last week was Bernanke’s testimony and some of his statements after the fact.  Gerald Celente noted that Bernanke said if the Fed wasn’t continuing to print money, that the economy would ‘tank.’  That’s exactly what all of us have been saying on KWN for months, if not years.

But it’s interesting that Bernanke basically said as much himself, and nobody picked up on it.  Bernanke was asked by one of the Congressmen if he was printing money, and he answered, ‘not literally.’  Now what does that mean?  If you are creating $85 billion a month to buy Treasuries and bad bank mortgage debt, if that’s not printing money then nothing is.

Bernanke was also asked if his policies were benefitting Wall Street to the detriment of Main Street.  He actually said that he was facilitating the purchases of cars through his low rate policy.  That’s the same problem we had with the housing boom four or five years ago.  His low interest rates spawned a housing bubble, and now we have an impoverished public buying cars they really can’t afford.  This is astounding stuff.

But I found his comments regarding gold particularly insulting.  After stating that lower gold prices may indicate less concerns about extreme outcomes, he then said, ‘Nobody understands gold prices and I don’t pretend to understand them myself.’ 

Quite frankly, the Fed has been at the forefront of the two-decade suppression of the gold price which was undertaken in order to create a misleading impression about central bank monetary policy and the inflationary implications.  So I would suggest that he is being disingenuous at best when he makes comments like that about the gold market.  I’m just appalled.”

Embry had this to say regarding silver:  “If gold finally starts to get out and run and we finally see silver punching through $20 convincingly, silver will be ready to begin a massive leg higher.  The fundamentals for silver are beyond spectacular.  When this whole bull market resumes with a vengeance, silver is going to outperform gold.  Gold will do extremely well on its own, but the gains in silver will be historic.”

Embry also added:  “The mining shares have been through a tragedy, and a lot of these companies are impaired.  But for those companies that aren’t impaired I think you are going to see the greatest bull market gold and silver mining shares that has ever taken place.

Most people are valuing these shares today on the premise that gold is going to $1,000.  Well, gold isn’t going to $1,000, it’s probably going to $4,000 or $5,000.  And when that becomes apparent to more and more people, the impact on the companies producing this stuff, or that have large, unexploited ore bodies is going to be enormous.  I never thought the market would take high quality mining shares to these levels, but it’s just created a fantastic buying opportunity.”

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Eric King

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