With the situation deteriorating by the day, “the everything bubble” is about to unleash panic in global markets.
Situation Deteriorating By The Day
June 29 (King World News) – John Embry: “Eric, it appears as if the global economic and financial situation is deteriorating by the day. However, the average person would probably be unaware of that if he read the mainstream press or listened to the talking heads on TV. They continue to parrot the government’s propaganda and do absolutely no in depth analysis…
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.
John Embry continues: “At the same time, all markets of any importance are being manipulated by the central banks and their agent banks in order to create the impression that all is well. But despite these Herculean efforts by the powers that be, the rot in the system is worsening by the day.
No Easy Answer
The latest serious issue is the intensifying trade war triggered by the US response to what they perceive as unfair trade tactics deployed by other nations — both allies and enemies. In reality, the US public has actually benefitted greatly by being able to purchase inexpensive goods from elsewhere because those countries were prepared to accept steadily depreciating US dollars in return for their goods. The huge, cumulative US trade and current account deficits have resulted from this phenomenon.
Now, to try and reverse this trend at a very late date in the current economic cycle in a vastly over-indebted world, will most assuredly result in an economic and financial disaster. In addition, the continued turmoil in Europe is far from a positive development.
Given their financial vulnerability due to the absurd policies of the European Central Bank, it is difficult to see anything but a bad end to this whole experiment. Compounding matters is the intensifying migrant crisis to which there is no easy answer.
Finally, the devastation occurring in many currencies, and the dire economic prospects of the third world due to the recent strength in the US dollar, is creating further difficulty. I’ve sent a lot of time in Argentina in recent years and I am really surprised at the extent of the turmoil in their currency.
A Huge Problem
Turning to the markets, the central banks, collectively, have a huge problem on their hands. Due to their past efforts with massive monetization, the vast majority of which benefitted financial markets much more than the real economy, we are now confronted with hugely overvalued stock, bond, and real estate markets globally.
If the central banks were to follow through on their recent promises to tighten, these markets would come under extreme pressure and the entire pension system globally would fail. Thus, I expect them to continue to monetize, which will lead to some form of hyperinflation in the future.
Therefore, despite the recent weakness in gold and silver prices due to relentless selling in the paper markets, I remain resolute in my belief in dramatically higher prices in the not-too-distant future. Because of the continual suppression in the paper markets, it is impossible to put an exact date on when gold and silver prices will explode to the upside. However, the middle ground no longer exists. When the current price suppression fails, due most probably to an unanticipated financial event, gold and silver prices will explode to levels most people can’t even imagine today.”
KWN has just released the powerful audio interview with Gerald Celente discussing what will cause the price of gold to soar, the top trend for the back half of 2018 as well as what surprises to expect and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO JUST RELEASED: Big Money Is Preparing For A Devastating Worldwide Collapse CLICK HERE TO READ.
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