Monday, September 28, 2015

These Are Perilous Times And A Great Shock Is Coming

"With the Dow currently down 230 points, today a 50-year market veteran warned King World News that these are perilous times and a great shock is coming.
September 28 (King World News) – John Embry:  “It is business as usual in the precious metals market after a flurry last Thursday when gold rose 2 percent and was immediately met with a wall of selling.  I laughed when I saw Kitco attributed to the rally to short covering, only to see that theory destroyed when open interest rose over 8,000 contracts that day…
“The U.S. authorities must be petrified behind the scene as they see their economy weakening noticeably — a fact that is at odds with their bogus economic releases.  The U.S. stock market is also under pressure once again and more and more countries are talking about eliminating the dollar from international transactions.
A Shock Is Coming When The Great Charade Finally Ends
But this charade will continue until it ends, and when it does there will be a reset in gold and silver prices to the upside that will come as a shock to many observers.  There is abundant evidence that physical supply is becoming tight in both gold and silver.  There is considerable backwardation in the London market.  This is something that should never happen under normal circumstances.  It is just another indication of a very tight physical market..."

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