With the eyes of the world recently focused on soaring stock markets, today a 50-year market veteran warned King World News that we are now living in a terrifying world of bubbles and geopolitical chess moves, and he also asked: what is really going on behind the scenes and where is the gold? He also discussed the truth about what is really happening around the world.
John Embry: “Last week was a particularly bizarre one for gold and silver. All week any rallies were viciously rebuffed, so I was very uncomfortable going into Friday. Then the extremely bogus U.S. Jobs Report, which Michael Pento brilliantly commented on, facilitated a total slaughter in gold, silver and the mining shares….
Continue reading the John Embry interview below…
“The HUI broke down completely from what appeared to be a strong base around 180. This was an operation by the Western central banks and their bullion bank agents and it wasn’t disguised in the least.
What Is Going On Behind The Scenes?
This brings me to the all-important question: What is really going on behind the scenes? There are so many bizarre developments. Negative interest rates in Europe are ridiculous. Who in their right mind would hold the paper of these bankrupt countries and pay them for the privilege of doing it?
Phony Economic Data An Embarrassment
There is also blatantly false economic data emanating from many sources but most particularly from the U.S. and China. These numbers are so overstated that it’s an embarrassment.
Geopolitical Chess Moves And A Nuclear Threat
There is also a deteriorating geopolitical condition. There is no better example than this recent announcement where Europe is talking about putting an army in the Ukraine, and Russia is responding by alluding to a nuclear option.
Then, Lord Rothschild of all people came out with an extremely negative view of the future. This is one of the global one-world guys and I found it surprising that he would be as forthright in what he said.
Where Is The Gold?
Then we had Andrew Maguire tell King World News that HSBC is closing its gold vaults in London. If this is the case, this is an enormous development and I find it ominous for anyone holding paper gold instruments. There are high quality vehicles such as Sprott Gold Trust and Central Fund of Canada but most of these paper gold products are Ponzi schemes.
In the face of all this chaos, financial markets such as stocks, bonds, etc., remain firm. And the market for real things — gold, silver and other commodities — continues to get trashed. This doesn’t make any sense whatsoever.
Mark Cuban Warns Of Massive Bubble
In my opinion this is taking on dimensions of the Dutch Tulip Mania, the South Sea Bubble, and the ridiculous valuations of Japan in the late 1980s. Even Mark Cuban was suggesting that the Nasdaq is probably more overvalued at 5000 this time than it was back in the year 2000.
What I’m Doing With My Own Money
I don’t think investors can be too careful here. I will reiterate that my money remains in the historical safe havens of gold and silver and the respective shares, and I see no reason to change that stance in spite of all this market manipulation.
Chinese Market A Game-Changer For Gold
I also think the fact that China is opening a gold market this month is significant in the sense that so much gold has migrated to that part of the world (the East). This will be a physically-based market and hopefully it will ultimately supplant the Comex and the LBMA, which are paper markets where the manipulation has been easy to effect. I believe this is a significant development and hopefully this will be the beginning of the end of Western manipulation of the gold market.” ***ALSO JUST RELEASED: We Are About To Witness Orchestrated Financial Destruction And Social Unrest That Is Beyond Imagination CLICK HERE.
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The audio interviews with Robert Arnott, Gerald Celente, Michael Pento, David Stockman, Marc Faber, Eric Sprott, Felix Zulauf, Andrew Maguire, John Mauldin, Egon von Greyerz, Dr. Paul Craig Roberts, Lord Christopher Monckton, Bill Fleckenstein, Dr. Philippa Malmgren, John Embry and Rick Santelli are available now. Other recent KWN interviews include Jim Grant — to listen CLICK HERE.