As the gold and silver markets attempt to stage a rally, today John Embry spoke with King World News about the doomed EU experiment and the FT’s anti-gold propaganda.
The Doomed EU Experiment
John Embry: “Eric, I was absolutely delighted to see James Turk’s reference to Otmar Issing’s very revealing comments about the current state of the European Union. Coming from a true insider, these observations have to be taken very seriously…
Continue reading the John Embry interview below…
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John Embry continues: “As you know, I have been a skeptic from the outset regarding the EU experiment. Some have believed from the beginning that it was a trial for a one world government. And its obvious failure should hearten all of those who believe in liberty, true democracy and individual freedom.
The idea that you can have a monetary union of very disparate countries with absolutely no firm fiscal controls was a glaring error from the outset. To be fair, the union did solve one major problem that plagued the continent from the first half of the 20th century and that was military conflict. However, it inflicted economic and financial ruin on the countries in the southern periphery and has essentially destroyed the European banking system.
The easiest course of action at this juncture is ever greater monetary stimulus and debt generation. But that will ultimately result in some form of hyperinflation, which will just compound the misery for the vast majority of Europeans. And this is all being made materially worse by the migrant crisis, which essentially creates further disruption. There are an insufficient number of job opportunities to begin with in the increasingly stagnant European economy, and more people isn’t going to help their situation.
Moving on to the gold market, there was conceivably the most appalling article on gold I may have ever read in the London Financial Times in the past week. Some chap by the name of Dan McCrum, who looked to be about 12 years old in the accompanying picture, entitled the article Gold Can Only Ever Be A Fashion Victim As Its Price Ebbs And Flows. And it only got worse from there.
In fact, I think the average 12 year old would have been ashamed to write an article that was this ignorant concerning gold’s role in a monetary history that has now encompassed many centuries. However, this represents how desperate the authorities and their mainstream press have become as one of the world’s great Ponzi schemes — the gold and silver price suppression scheme in the paper markets — approaches its demise. To be fair, I really didn’t think they could get gold and silver prices this low in the current monetary environment, but it just makes the opportunity to buy physical gold and silver at this moment ever more appealing.”
***KWN has also now released the powerful interview with Gerald Celente and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO RELEASED: Here Is A Very Surprising Look At The Gold Market And What To Expect Next CLICK HERE.
***KWN has also now released the extraordinary interview with John Embry and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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