As we come to the end of June, here is a look at silver and the biggest asset inflation in history.
World’s Most Undervalued Asset
John Embry: “All markets remain heavily manipulated, with a lack of volatility in the seriously overpriced U.S. stock market being particularly egregious. I note that as of last Thursday’s Open Interest report on the Comex, silver’s Open Interest is expanding again as the Cartel desperately attempts to keep the world’s most undervalued asset from exploding in price…
Continue reading the John Embry interview below…
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John Embry continues: “I suspect they are prepared to short sufficient quantities of paper silver, so the recent Open Interest high of 235,000 contracts could easily be exceeded. When you consider that number represents just under 1.2 billion ounces of notional silver vs only roughly 900 million ounces of annual mine production, a significant portion of which is consumed in growing industrial and medical applications, you can fully appreciate how outrageous the Cartel’s activities are, and how cheap silver is.
However, their desperation is obvious because in your wonderful interview with Harry Markopolos, he referred to the impending terminal state of the U.S. economy and the dollar being the result of an epic Ponzi scheme. I agree. And as I said last week, the Fed’s interest rate hike recently was just another attempt to say things are progressing in a positive direction, when the reality is the exact opposite.
The Biggest Asset Inflation In History
This is very simply the biggest asset inflation by a wide margin in human history. Because it has gone on for so long, due to what I refer to as financial innovation — massive use of derivatives, algorithms, high frequency trading, etc — that was not previously available, many people have been lulled into the belief that this represents normalcy. Nothing could be further from the truth. And this is all a precursor to what will ultimately be seen as the greatest financial collapse in history. I believe the insiders know that and are clandestinely preparing for it while speaking optimistically when it comes to public consumption.
I’ve been fascinated with the upward explosion in the price of a number of crypto currencies, and believe it reflects an increasing desire by individuals to escape from the fiat currency world. Because gold and silver can be shorted so easily in the paper markets and in such great amounts, they have been effectively suppressed to date. The poor price action is driving away many investors, but when this inevitably reverses, the price explosion in gold and silver will exceed the expectations of virtually everyone. So all I can say is be patient because reality always returns, and when it does you better be positioned in the right assets.”
***To listen to the remarkable audio interview with Harry Markopolos that has just been released CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Madoff Whistleblower Harry Markopolos Warns A Wild Card Will Hurtle The World Into The 2nd Great Depression CLICK HERE.
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