With the U.S. dollar tumbling along with stocks as the gold market continued to surge, John Embry told King World News that the $3 billion paper gold selling scam backfired today as the U.S. economic collapse picks up steam.

KWN Arnott IV 7:26:2015

John Embry:  “Eric, it appears the powers that be are becoming increasingly desperate and transparent as things deteriorate economically, financially and geopolitically.  Bogus government statistics, fake news and manipulated markets are intensifying to the extent that I believe even (George) Orwell would be dazzled…

Continue reading the John Embry interview below…

John Embry continues:  “The action in the stock market on Monday was a classic case in point.  After a very weak day to end last week as well as a dismal news backdrop over the weekend, the Dow magically rallied over 180 points on Monday.  This indicates to me that the authorities believe that they can’t allow a correction to get underway because it could easily snowball into a panic in view of the historical overvaluation, weakening economy, and a deteriorating profit picture.

KWN Embry I 1:7:2016

Compounding the problem is the condition of pension funds in North America, which despite ludicrously overpriced stock and real estate markets and unsustainably low interest rates, are seriously underfunded.  If those three primary asset classes were to decline significantly from current levels, there would be a pension crisis the likes of which has never been seen before.

King World News - More Retail Store Closures And Bankruptcies On The Way But This Is What Could Really Spell Trouble...Government Reporting Lies As The Economy Implodes
Switching to the U.S. economy, most of the micro numbers I’m looking at do not at all support the numbers the government is reporting.  Retail sales, which are an extremely important component of the U.S. economy, are week.  And the carnage in the bricks and mortar retail sector is alarming.  Stores are closing everywhere.  Auto sales, which were greatly inflated by subprime auto lending, have clearly peaked and inventories are building.  Virtually everything is suggesting we are entering a recessionary period, if we aren’t already in it.

However, gold and silver must never be allowed to reflect reality because the whole Ponzi scheme, which is modern finance, would unravel quickly.  Thus gold and silver, which were at the cusp of major breakouts just last week, have been aggressively attacked in the paper markets this week…..more here