Today a 50-year market veteran told King World News that the powers that be are terrified by what is unfolding behind the curtain.
John Embry: “The most recent report from the U.S. Bureau of Labor Statistics was an embarrassment to its authors. Anybody looking at the numbers pertaining to retail sales and restaurant activities would be hard pressed to see any job creation in these areas whatsoever. And yet there was a suggestion in the report that there was considerable job creation…
Continue reading the John Embry interview below…
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John Embry continues: “And when you combine that with an acknowledged loss in the report of 29,000 manufacturing jobs and the totally fictitious number of jobs created by the Birth/Death ratio, their final number of 215,000 jobs is simply ludicrous.
Now this didn’t stop the market manipulators from elevating the Dow Jones Industrial Average once again, while gold and silver were smashed (last Friday). At one point silver was down 60 cents or roughly 4 percent in a very short time frame on the Comex.
Silver Is The Cheapest Asset On The Planet
I believe that silver is currently the cheapest asset on the planet, so it makes even less sense that it gets totally hammered on a phony jobs report. I suspect the powers that be are getting very uncomfortable with what they see unfolding behind the curtain.
As you know, Eric, I have been outspoken on the subject of precious metals price manipulation for many years. An associate and I turned out a 60 page opus on the subject over 10 years ago, and when I looked at it recently I wouldn’t change a single allegation.
In fact, if I had the energy to update it, it might now exceed Tolstoy’s epic War and Peace in length. Thus I was fascinated when a known government agent recently said:
“I spoke to a PhD statistician who works for one of the biggest hedge funds in the world. I can’t mention the name but it’s a household name, you would know the fund. He looked at Comex opening prices and Comex closing prices for the 10 year period and he was dumbfounded. He said, ‘This is the most blatant case of manipulation I’ve ever seen. If you went into the open market, bought after the close and sold before the opening everyday you would make risk-free profits.’ He said, ‘Statistically that’s impossible unless there is manipulation going on.’”
So I feel somewhat vindicated by that comment. I was further amazed when Bill Dudley, the president of the New York Fed for over 6 years, had an interesting response to a question from the floor of a public forum the other day when asked if the Fed or the U.S. government swapped gold with any other countries or central banks and sold that gold into the physical market over the last 20 years? He responded, ‘I will not answer that question.’
I must admit I admire him for ducking the question rather than overtly lying about the subject. As a result of all this I think we are getting very close to a major explosion in both gold and silver. Circling back to the government agent I mentioned earlier, I was encouraged that he said in a reset monetary system, which is coming, the price of gold at the low end would be $10,000 an ounce and at the high end $50,000 an ounce.
The Chinese and the Russians know this and that’s why they are buying gold hand over fist. I would strongly suggest that all KWN readers and listeners do the very same thing. The price in the short-term is immaterial. What is important is getting as much physical gold and silver while it is still available.”
KWN has now released the outstanding audio interview with Stephen Leeb and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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