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Embry:  “Right now I am focused on the egregious price behavior of gold and silver in the wake of the ‘no taper’ decision by the U.S. Federal Reserve.  Before this decision was made public, 95% of the pundits were talking about some degree of tapering.


As this discussion of tapering was taking place, the gold price was crushed from about $1,420 down to $1,300.  What was shocking to most people was that the Fed’s decision sparked a one-day $60 rally in the gold price....


Continue reading the John Embry interview below...




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“Well, after trading sideways on Thursday, on a Triple-Witching Friday the gold price was attacked and surrendered 2/3 of its gains.


But it’s worse than that because as I said gold was taken down ahead of this decision and it is now roughly $100 lower than before this situation really became an issue.  So this is egregious behavior and it is discouraging to many investors.  This counterintuitive price action also continues to drive people away from the gold market.


My attitude is the exact opposite.  This is a gift.  Investors are getting one of the world’s most undervalued assets at giveaway prices, and this is at a time when they are getting ready to totally destroy the world currency system as we know it.  There was a logical explosion higher in gold after the ‘no taper’ was announced. 


The only cover that could be used for that takedown on Friday were some remarks from Bullard, who isn’t even a voting member of the Fed.  Bullard said that just because they didn’t taper doesn’t mean they won’t do it next month or the month after, depending on economic statistics.  This is all just bullsh*t propaganda which is used to try to control the gold price and keep people away from it.


We will continue to have this type of propaganda from the Fed, but the problem is that the physical shortages in the gold market are real.  There has been a massive amount of gold being offloaded to the East.  If you just look at the gold demand from India, China and Russia, they are consuming more than the entire world’s annual mine production.  So people ask, ‘Where is all of the gold coming from?’  Well, it’s coming from GLD and Western central banks, but at some point, when things really get messy in the financial world and demand for physical gold surges even higher, the price of gold is going to explode.


Am I frustrated in the very short-term?  Yes, I am frustrated.  But am I the least bit concerned about where gold is headed in the long-term?  Not in the least.  Gold will eventually head much higher than anybody thinks possible.  Meaning, the eventual upside move will be greatly exacerbated because of this continued price suppression.”


Eric King:  “This week was broadly considered a disaster for the Fed.  In the aftermath of that, as you mentioned, there was damage control by Bullard.  What about the comments by him specifically?”


Embry:  “These guys are tough adversaries for anybody who believes in real money.  First, they had the disastrous announcement that they couldn’t taper in the least.  Then they tried to control the damage by having Bullard come out with Fed propaganda on Friday.  But this is all garbage.


The fact is that in the face of $85 billion a month being created out of thin air to buy Treasuries and Mortgage-Backed Securities, interest rates have actually risen dramatically during that time frame.  What the hell would happen if you had a significant taper?  Interest rates would go to the moon and the game would be over because the one thing the system cannot tolerate is significantly higher interest rates.


There is always a bid in the stock market and interest rates are being kept at ludicrously low levels.  So it’s holding the unsuspecting public in the wrong assets.  When the general stock and bond markets come under enormous downside pressure, a great many people in the West will suffer because they aren’t financial sophisticates.


People are being held in the wrong investments because of the mainstream media propaganda, and they are going to get badly hurt.  I think this is a crime and it makes me sick to see where this is all headed.  As I said earlier, I am totally comfortable with my long-term point of view about where gold is headed, but I am terribly concerned about what central planners are doing in the short-term, as well as the general impact this is having on investors.  This is truly sociopathic behavior on the part of Western central planners, and it will end in a catastrophic collapse and tragedy for virtually every single human being in the West.”


IMPORTANT - Former US Treasury Official Dr. Paul Craig Roberts spoke about the Fed’s decision not to taper, how this will impact key markets such as gold, the coming collapse the U.S. faces, why Western central planners are so desperate, what to expect in the future and more in his powerful KWN audio interview and you can listen to it 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 Dr. Paul Craig Roberts, Chris Powell, Michael Pento, Eric Sprott, Andrew Maguire, Grant Williams, Bill Fleckenstein, Pierre Lassonde, Art Cashin, Egon von Greyerz and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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