With continued uncertainty in global markets, today John Embry told King World News he hasn’t seen this in 47 years.
The Line In The Sand
June 12 (King World News) – John Embry: “It is a significant pleasure to be able to chat with you after your long trip. In your absence, the markets have become even more absurd. The fanatical efforts of the central banks and their allies to suppress gold and silver prices have become ever more intense. $1,300 is the line in the sand for gold and they are desperately trying to keep silver under $17. These are now unquestionably the two cheapest assets on the planet…
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John Embry continues: “This is all understandable looking at the magnitude of the financial disaster that bankers have created. They will do anything possible to put off the day of reckoning. As I have said on many occasions, if gold and silver prices were allowed to reflect the absurdity of current monetary policy, interest rates would escalate immediately and the entire global debt bubble would come crashing down.
However, each day that this bubble environment continues to exist ensures that the ultimate outcome will be even worse. Most observers don’t seem to recognize the fact that total global debt has grown by at least $75 trillion since the global financial crisis, and the system should already have collapsed at that point. The central bank intervention has enriched the elites, while the vast majority of society struggles to make ends meet.
The Unsustainable Fiasco
The current level of global interest rates is clearly unsustainable and the inevitable rise in rates will expose this fiasco. Why anyone would lend money to bankrupt sovereigns, over indebted companies and tapped out consumers at these rates is beyond my comprehension. What makes it all worse is that in many parts of the world, particularly in North America, inflation has been systematically and intentionally understated in an attempt to further distort reality. However, we are now in the early stages of a rapid escalation in inflation in many areas and the impact of that will definitely drive rates higher.
The relentless suppression of gold and silver prices has obviously worked psychologically in the Western world because interest in gold and silver bullion and the mining shares is as negative as I have ever seen it in my 47 years in the business. At the very time that people should be seeking protection, instead they are clinging to their grotesquely overvalued tech shares, bonds and their over levered real estate. The wealth transfer that will occur in the next few years will exceed anything seen before in history.
The Chinese and the Russians know this and have been accumulating physical bullion aggressively. At the appropriate moment they will pull the rug out from the overvalued and over-owned US dollar and the impact on the average North American will be devastating. Investors should be aggressively accumulating unleveraged hard assets at this time, and disposing of their paper financial assets in order to protect themselves from what is coming at us like a freight train.”
KWN has now released the powerful audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it immediately by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: DANGER: SIGNAL: The Public Is Gambling Big, Making Massive Bets On Higher Stock Prices CLICK HERE.
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