With the U.S. dollar continuing to trade near recent lows and gold trading near $1,240, today a 50-year market veteran warned King World News that a massive reset of the world financial system is coming.
John Embry: “Eric, just when you think things can’t become any more artificial or ludicrous, Bloomberg comes out with a report that the Japanese central bank, by virtue of its month-to-month purchases of Japanese stock ETFs, is now a top ten holder in approximately 90 percent of the Japanese companies that make up the Nikkei 225 Index…
Continue reading the John Embry interview below…
John Embry continues: “That most assuredly is not the central banks’ traditional role, but it vividly reveals the depth of the problems facing the global system. Japan is the poster boy because it is further down the road to total financial destruction, with its government funded debt now exceeding 250 percent of GDP, while its population both shrinks and ages and its economy wallows.
But make no mistake, virtually all important Western industrialized countries are on the same path, with unsustainable debt loads, stagnating economies and historically overvalued financial markets.
I laughed when I saw the cover of this week’s Economist Magazine, which covered the topic, ‘What Hillary Clinton Can Do To Fix The American Economy.’ Aside from essentially awarding the U.S. Presidency to her in November, they actually had the gall to suggest that a lifelong politician might have some workable solutions. This is typical of the mainstream media, which continues to publish little more than unrealistic garbage about the global economic and financial scene.
Hyperinflation And A Global Reset
What is most probable in my mind is the eventual onset of hyperinflationary conditions, which will prompt a massive reset of the world’s entire currency system. When that even occurs, the U.S. will lose its exorbitant privilege of providing the world’s reserve currency and the implications for all North Americans are anything but positive.
Things Are Getting Very Interesting In The Silver Market
However, the sooner this happens the better because with each passing day the problems just get bigger and the coming dislocation becomes that much more socially disruptive. But while all of this is occurring, the powers that be are moving heaven and earth to suppress the prices of the only real money — gold and silver. In the case of silver, open interest in silver almost reached a record high on Friday as the commercials, i.e. the big bullion banks, continued to pile on the shorts.
Now, at any other time in the past 5 years the silver price would have already been crushed. So I take considerable encouragement from the fact that silver is holding its own in the $17 range and the stocks are maintaining their strength. I have believed for some time now that there is no longer any middle ground for silver. Either the price manipulators can keep it in the present $15 – $17.50 trading range for a further period of time, or the price is going to explode upwards when the shorts are overrun. And then silver will make a relatively rapid move to the all-time high of $50 and beyond.
Persistent and growing shortages of physical silver are, at the very least, improving the odds of the huge upside move. Stay tuned, Eric, because things are now getting very interesting.”
***KWN has now released the powerful audio interview with whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***KWN has also now released the fascinating audio interview with top trends forecaster Gerald Celente and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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