Today a man who has been involved in the financial markets for 50 years spoke with King World News about the shocking and historic price swings in the gold and silver markets.  John Embry, who is business partners with billionaire Eric Sprott, also discussed the fact that enormous pressure is building against the Western central planners to release the gold and silver markets to the upside.

Embry:  “The action in the gold and silver markets for the last several days is historic.  And the moves in gold and silver overnight and into today have been astonishing….

Continue reading the John Embry interview below…


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“But the mauling that gold and silver experienced on Friday represents criminal activity in my opinion.  The Friday after Thanksgiving is traditionally one of the quietest trading days of year, and yet on that day the HUI declined nearly 8 percent.  Gold and silver equities remain the least expensive equities on the planet.

For gold and silver and the shares to be blasted like that post-holiday was very telling.  That action was preposterous.  To me it reveals that the Western central banks and their bullion bank accomplices are in deep trouble when it comes to gold and silver.

Western inventories have been sharply depleted as supplies continue to migrate to the East.  The end of the Indian restrictions is also another major development.  This will mean even more gold heading from West to East, putting additional pressure on the central planners to release the price of gold.

This will create enormous trouble for Western planners in the paper gold and silver markets.  There are arguably more than 100 paper claims on each remaining ounce of gold and silver in the West.  This paper Ponzi scheme is now in serious trouble.

People own physical gold and silver as a hedge against the ongoing global debasement of fiat paper currencies in the world.  However, for people that own paper gold and silver, they will be settled in cash at the very time they will need this protection.

I believe this inflection point is rapidly approaching and it may explain to some extent the recent bizarre price action in gold and silver.  Part of the reason for the extreme downdraft in the metals was related to the failed Swiss Gold Initiative.  The Western central planners wanted to do everything they could to ensure that would not pass. 

I gave that initiative zero chance of passing from the outset, and I said as much in my article several days before the vote took place.  I think the Swiss vote was very telling in that it was so overwhelming.  The Swiss gave license to the Swiss National Bank to continue to debase the currency.

Outside of the Germans, the Swiss from a historical perspective stand for financial rectitude.  And if the Swiss are ‘all-in’ in favor of more debasement, I think this is a very powerful signal that we are headed for hyperinflation on a global basis in the not-too distant future.”

Embry added:  “A Citibank economist Willem Buiter came out with the most preposterous thing I’ve ever seen on the subject of gold.  He said, ‘It’s been in a 6,000 year bubble,’ and ‘It’s no different than a shiny Bitcoin.’  I find it interesting that he works for Citibank, which is one of the dead men walking in terms of the banks.  This kind of propaganda emanating from banks that are in desperate shape as we go forward is very telling.  In fact it’s a great contrary indicator and I think it’s extremely critical that investors acquire more physical gold and silver at these bargain prices.”

IMPORTANT – KWN has many more interviews being released today.

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The audio interviews with Rick Rule, Bill Fleckenstein, Ben Davies, Greyerz-Turk-Stamm, Gerald Celente, 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.

Eric King