Embry - Hang On Because The Chaos is Going to Accelerate

"Today John Embry told King World News, “...the chaos will accelerate,” and “...before this ends, it will be cataclysmic.” Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also discussed market manipulation. Here is what Embry had to say: “The fact that this LIBOR scandal has come to the surface is interesting. It’s an indication of the depth of the corruption in the system. The LIBOR scandal is just one of the many manipulations going on in the world at this point.”

John Embry continues:

“To me the biggest one and the longest running manipulation that no one will acknowledge is the gold and silver suppression scheme. This has been carried out to keep interest rates at low levels, and to suggest that the monetary policy being invoked is correct.

To me, the best thing about the LIBOR scandal is more people are going to start waking up to the fact that virtually everything in these markets is fake....

“There is no better example than what happened in the latter part of last week. Here we had two days that would, if left to its own devices, the gold and silver prices would have rocketed higher. 

First, we had broad easing across the globe from countries like China, England, the ECB, but the gold price got pummeled when all of this was announced. The next day we had a terrible US jobs report, which suggests QE is coming quickly, but gold was hit for a second time.

This was in the face of back to back situation that should have made gold move higher. So anybody that thinks this was normal trading action is simply naive.”

Embry also noted: “I get a huge kick out of the sentiment in the gold market, which as you know, Eric, is extremely negative. We are to a point where we are dealing with very little on the downside in gold, but thousands of dollars on the upside. This is one of the best buying opportunities in history.

The Chinese get it, and I think a number of the Eastern powers get it. They are just delighted that gold continues to be suppressed. From all of the information I get, more and more gold is headed in that direction (to the East)..."

at http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/7/9_Embry_-_Hang_On_Because_The_Chaos_is_Going_to_Accelerate.html