With the Dow breaking back below 25,000, one of the greats in the business said Egon von Greyerz is right, we are in for massive chaos and financial destruction.
June 18 (King World News) – Eric King: “John, we were talking about Egon von Greyerz prior to this interview. Some of Egon’s writings are very dire in terms of the forecasts. What are your thoughts on Egon’s views?”
John Embry: “I’m sorry to say but I think he’s on track. This is an unprecedented time in history. And the fact is that the world population has grown from 1.2 billion in 1850 to well over 7 billion today. And there are 65 million people that have been displaced, who are on the move around the world. That’s almost twice the population of Canada. So we are starting to see the impact of this…
ALERT:
Mining legend Ross Beaty (Chairman Pan American Silver) is investing in a company very few people know about that had a staggering 20 grams per tonne of gold going through the plant in the last quarter. The highest peak during a 12 hour period was a jaw-dropping 100 grams per tonnes of gold! No wonder Ross Beaty is buying stock in this amazing company. To find out which company CLICK HERE OR ON THE IMAGE BELOW.
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John Embry continues: “Egon is a long-term thinker and he knows we are living through a cycle which has never been seen before in human history in terms of the sheer magnitude of the madness. And it has been fueled by unprecedented money creation. This has pumped up stock, bond and real estate prices to levels that have no bearing to the underlying fundamentals. And nothing grows to the sky, which is why Egon is constantly highlighting the enormous number of parabolas. We have a parabola in population and in many markets and market prices, and every parabola I’ve ever looked at comes crashing down the other side. That’s part of Egon’s rationale and I completely agree with him.
It’s hard for me to see how this could end well. I think what we need to focus on is how ugly it’s going to be. Already, around the globe there are a zillion people suffering mightily from what’s happened in just the last ten years. Now inflation is beginning to accelerate which will only exacerbate the problem for many people. So all of this money printing has been to save the system and to enrich the elite.”
Eric King: “John, what do you see as the hope going forward?”
John Embry: “The hope is that we can reset the system without too much turmoil. I honestly believe that the people in North America have enjoyed a charmed existence in my lifetime. Anyone who was born and grew up in the wake of World War II had all the opportunity in the world. This wasn’t the case in a lot of other places. And now, with the rise of China and the rise of the East, I think that living conditions in North America are going to deteriorate significantly over the next 20 years. To what degree no one know for sure. All I know is that the direction is going to change for the worse.”
Eric King: “John, what do you say to people who are frustrated by the continued insanity in markets?”
John Embry: “It takes remarkable patience, Eric. I talk to so many people who are so discouraged, and justifiably in the short-run, because their portfolios of gold shares and hard assets have been under pressure for a considerable period of time. Whereas people who are invested in conventional assets continue to make money.
But I think there will be a violent change in direction and that gold and silver prices will finally escape to the upside. And when that occurs, it will probably be in conjunction with a sharp break in the prices of traditional financial assets — stocks, bonds and real estate — and it will create the biggest wealth transfer in history. It will also be accompanied by famine and the terror of societal breakdown that Egon von Greyerz has warned about so many times. This is why it so important for people to protect themselves and their families against what is coming.” Mining legend Ross Beaty (Chairman of Pan American Silver) is investing in a company very few people know about that had a staggering 20 grams per tonne of gold going through the plant in the last quarter. The highest peak during a 12 hour period was a jaw-dropping 100 grams per tonnes of gold! No wonder Ross Beaty is buying stock in this amazing company. To find out which company CLICK HERE
To listen to the timely KWN audio interview with James Turk that discusses the smash in the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: China Preparing For Gold To Reenter The Monetary System Thousands Of Dollars Above The Current Price CLICK HERE.
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