This Will End In Catastrophic Collapse & Tragedy For The West

"In the aftermath of a disastrous week for the Fed, which culminated in Friday’s desperate propaganda from the Fed’s James Bullard, today a man who has been involved in the financial markets for 50 years warned King World News that this will “... end in a catastrophic collapse and tragedy for virtually every single human being in the West.”  Below is what John Embry had to say in this powerful interview.

Embry:  “Right now I am focused on the egregious price behavior of gold and silver in the wake of the ‘no taper’ decision by the U.S. Federal Reserve.  Before this decision was made public, 95% of the pundits were talking about some degree of tapering.

 

As this discussion of tapering was taking place, the gold price was crushed from about $1,420 down to $1,300.  What was shocking to most people was that the Fed’s decision sparked a one-day $60 rally in the gold price....

“Well, after trading sideways on Thursday, on a Triple-Witching Friday the gold price was attacked and surrendered 2/3 of its gains.

But it’s worse than that because as I said gold was taken down ahead of this decision and it is now roughly $100 lower than before this situation really became an issue.  So this is egregious behavior and it is discouraging to many investors.  This counterintuitive price action also continues to drive people away from the gold market.

 

My attitude is the exact opposite.  This is a gift.  Investors are getting one of the world’s most undervalued assets at giveaway prices, and this is at a time when they are getting ready to totally destroy the world currency system as we know it.  There was a logical explosion higher in gold after the ‘no taper’ was announced. 

The only cover that could be used for that takedown on Friday were some remarks from Bullard, who isn’t even a voting member of the Fed.  Bullard said that just because they didn’t taper doesn’t mean they won’t do it next month or the month after, depending on economic statistics.  This is all just bullsh*t propaganda which is used to try to control the gold price and keep people away from it.

We will continue to have this type of propaganda from the Fed, but the problem is that the physical shortages in the gold market are real.  There has been a massive amount of gold being offloaded to the East.  If you just look at the gold demand from India, China and Russia, they are consuming more than the entire world’s annual mine production.  So people ask, ‘Where is all of the gold coming from?’  Well, it’s coming from GLD and Western central banks, but at some point, when things really get messy in the financial world and demand for physical gold surges even higher, the price of gold is going to explode.

Am I frustrated in the very short-term?  Yes, I am frustrated.  But am I the least bit concerned about where gold is headed in the long-term?  Not in the least.  Gold will eventually head much higher than anybody thinks possible.  Meaning, the eventual upside move will be greatly exacerbated because of this continued price suppression.”

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/9/23_This_Will_End_In_Catastrophic_Collapse_%26_Tragedy_For_The_West.html