Ahead of the Fed meeting, today a man who has been involved in the financial markets for 50 years spoke about the blockbuster KWN interview with Andrew Maguire, the ongoing war in the gold market, the BIS, and the coming super-surge in gold and silver. Below is what John Embry had to say in this fascinating interview.
One of the overnight attacks last week was 4,000 contracts in the middle of the night in less than a minute.
The fact that Larry Summers will not be standing for the job a head of the Fed, this has been viewed as extraordinarily good news for the stock market, which is up dramatically. This clears the way for a more wildly bullish scenario for gold and silver. So all this means is that the gold and silver prices will be greatly enhanced in the future.
Embry: “It’s remarkable the extent to which gold and silver are being suppressed here. I would say that what has gone on in the last week is probably is as blatant a suppression as anything I’ve witnessed in the last 20 years, and that’s saying a lot.
“Let’s face it, that isn’t normal trading. This is just pure and simple manipulation. This begs the question, what are the central planners so worried about? There is clearly something in the background that even the pessimists don’t fully understand.
But this just creates an even better buying opportunity for those who understand where this is all headed. I would strongly suggest that everyone who does understand the game here should buy physical gold and silver and keep it outside of the banking system.
I was absolutely thrilled to see that Andrew Maguire went public on KWN concerning these allegations made by the JP Morgan employees. The fact is that I believe these are totally valid claims regarding manipulation. It really serves a purpose from my perspective because there are a lot of people who should know better but who choose not to acknowledge that the gold and silver markets have been totally manipulated for many, many years.
When you see information like what Maguire just revealed, anybody that is the least bit objective would have to finally acknowledge that all of the people who have talked about manipulation have been dead right. So I thought this interview was historic, and Andrew is in a position to see what is really taking place behind the scenes.”
Embry also added: “Apparently there has been a report by a BIS economist which has acknowledged that the only reason the financial system has continued to stay afloat since 2008 is because there has been a lot more debt created. He also went on to acknowledge that they (central planners) are running out of ammunition.
You know that I fervently believe believe in Austrian economics, and under that scenario the only way the global economy can now continue moving forward is to have ever-and-ever greater debt creation in the future. But the problem is that the world can’t even service the existing debt it already has.
So the idea that the world economy can grow to any sustainable extent over the next few years is absolutely preposterous. This means there are only two possible outcomes: If it doesn’t grow and they don’t throw more and more monetary stimulus at it, we are going to have a deflationary collapse. The other outcome would mean QE-to-infinity, despite this talk of ‘taper.’