On the heels of the Dow closing near 18,000 and the U.S. Dollar Index surging near the 80 level, today a man who has been involved in the financial markets for half a century spoke about the jaw-dropping moves he expects for the gold and silver markets. What John Embry, who is business partners with billionaire Eric Sprott, had to say will surprise KWN readers around the world, particularly when it comes to silver.
Eric King: “John, I know you were there for the 1974 – 1976 correction in gold. It was brutal. It was actually deeper than what we’ve seen in this bear market. It was over a 47 percent correction. When you look at this brutal cycle that we’ve been in, people have to understand that once this is completed we are going to turn and break to new highs in gold and silver. But today the thought of silver going through $50, people think that’s crazy.”
Embry: “Well, they’re wrong. It’s not going through $50, it (the price of silver) is probably going to hundreds of dollars and more….
Continue reading the John Embry interview below…
“You know I remember the 1974 – 1976 correction vividly. At that point there was far more strength in the overall system. So you could understand it (the massive correction in gold and silver) a little better.
But now, this correction that’s been orchestrated for the last 3 1/2 years in gold and silver, against the backdrop of what is basically a bankrupt Western society, is preposterous. And so it’s harder for me to deal with this intellectually than it was in 1974 – 1976.
And yet when that one (’74 – ’76 correction) ended, the price (of gold) went from $100 to $850. This time let’s say the bottom is in around $1,150. Well, an 8-times increase (in price) is going to give you close to $10,000 (gold), and I think an 8-times increase is probably conservative because things are infinitely worse than they were in the mid-1970s.” This was just a small portion of what Embry had to say in his remarkable audio interview. The audio with John Embry will available shortly and you can listen to it by CLICKING HERE.
© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.
IMPORTANT – KWN has many more interviews being released today.
The audio interviews with Gerald Celente, Rick Rule, Bill Fleckenstein, Ben Davies, Greyerz-Turk-Stamm, David Stockman, William Kaye, Dr. Paul Craig Roberts, Andrew Maguire, Eric Sprott, Rick Santelli, Michael Pento, John Mauldin and Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf — to listen CLICK HERE.