John Embry: “It is said that one of the great traits of a successful investor is patience. But in these totally manipulated markets, the patience of those who are trying to protect themselves from the inevitable destruction of the present pure fiat currency system is being sorely tried….
“The relentless suppression of the gold and silver prices in the paper markets by the central banks and their bullion bank allies is being accompanied by a number of ridiculous articles in the mainstream media denigrating gold.
The most ludicrous one that I recently read cited two academics projecting the true value of gold as somewhere in the area of $350 an ounce. I have never been a great fan of academia when it comes to the subject of money and finance, but that article takes the cake for abject stupidity.
In a world where paper money can be created at will, and the median all-in cost to get an ounce of gold out of the ground comfortably over $1,000, to suggest a $300 figure as the true value for gold is beyond pathetic and it shows the desperation of Western central planners being played out in the mainstream propaganda. But this is what the desperation has come to.
The Implications For The U.S. Are Dire
The powers that be are trapped in a world of failing economies, massive amounts of unserviceable debt, even at zero based interest rates, and paper currencies which are kept afloat by what little confidence remains in them. The U.S. authorities will do virtually anything, and I wouldn’t rule out war, to keep confidence in the U.S. dollar. The minute that confidence is lost, and it most assuredly will be in the not-too-distant future, the implications for the U.S. are dire.
The middle class is already being destroyed and the lower classes are being kept in line by entitlements that are ultimately unsustainable. When the dollar collapses, living standards in the U.S. are going down with it and the social ramifications are frightening. Thus the authorities in the U.S. are doing everything to prevent the inevitable.
They are misrepresenting the true condition of the economy. It is much weaker than they are acknowledge and recent retail sales numbers confirm that. The Fed is buying an inordinate amount of Treasury bonds to hold interest rates at bay, while at the same time holding out prospects for an administered rate hike to keep confidence in the dollar.
Plunge Protection Team Working Overtime
The Plunge Protection Team is working overtime in the stock market, which incidentally looks terrible technically. This is an attempt to delude people into believing that everything is alright. And finally the anti-gold cartel is slamming the paper markets in gold and silver to keep the public away from one of the very few areas that has no counterparty risk and is seriously undervalued. This is all totally unsustainable and should lead to a very interesting fall to say the least.”
at http://kingworldnews.com/plunge-protection-team-now-working-overtime-to-hold-off-the-inevitable-collapse/
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