On the heels of the French election results, today John Embry told King World News that central banks now have trillions of dollars of unsalable assets and the implications are quite disturbing.
Central Banks Have Trillions Of Dollars Of Unsalable Assets
John Embry: “Eric, it certainly has been a very interesting period since we last spoke. The precious metals have been relentlessly attacked, irrespective of the news backdrop, while the U.S. stock market has led the other world stock markets higher to the extent that global stock markets are collectively now trading at an all-time record market cap…
Continue reading the John Embry interview below…
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John Embry continues: “Perhaps we should not be at all be surprised given that the world’s central banks have increased their assets dramatically since the world’s financial crisis in 2008 and have essentially been buying whatever financial assets need support at any given time. Their balance sheets are now littered with trillions of dollars worth of virtually unsalable assets. Having come this far, my suspicion is that they can’t turn back now, so get ready for even more bizarre markets.
And The Implications Are Quite Disturbing…
It is also apparent that the central banks take turns. When the U.S. Fed takes a breather, the European Central Bank and/or the Bank of Japan steps in and floods the market with freshly created money. Thus I continue to believe that a global hyperinflation is in the cards. And with 7.3 billion people now inhabiting the earth, up a mere 5 billion from the time I was born, the implications of such a development are horrifying.
In the meantime, the suppression of the gold and silver prices has reached new levels of ridiculousness as the central banks and their cronies try to direct the public’s attention away from their preposterous monetary policies. Given the huge short positions which were created on the Comex in recent months, most particularly in silver, no one can be truly surprised by the counterintuitive price action recently as the hapless speculators get routed again for the umpteenth time.
I think Andrew Maguire’s comments in his KWN interview over the weekend are must reading and listening for anyone who wants to know what is truly going on in the paper gold and silver markets. However, ultimately physical gold and silver will be the savior of anyone’s portfolio when the inflation inevitably ignites.
Endless Lies And Propaganda Continues
Turning to the economy, the economic statistics in the United States in particular have become a bad joke. The Labor Department reported on Friday that the U.S. unemployment rate declined to 4.4 percent, despite the fact that there are tens of millions of employable people who have simply given up looking for jobs. Naturally the New York Times featured the number on the front page on Saturday, suggesting that all was well with the U.S. economy.
However, when one takes a closer look at the economy, there is emerging weakness all over the place, and government tax revenues, which are a good guide of the economy’s economic health, have been falling recently. At the same time, President Trump’s narrative on the trade front is disturbing to put it mildly. Doesn’t anyone remember the Smoot-Hawley Tariff Act in the 1930s, which contributed mightily to the ugly depression that occurred in that era?
The Bottom Line
I think it should be a very interesting summer coming up and I didn’t even get around to discussing the epic geopolitical mess that is unfolding or the impending Chinese debt crisis. The bottom line is that people can’t be too careful here.”
***KWN has now released the remarkable audio interview with London whistleblower Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Greyerz – Shocking Truth About What Is Really Happening Is Being Hidden From An Unsuspecting Public CLICK HERE.
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