US Moving In Disastrous Direction That Ensures Total Collapse

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US Moving In Disastrous Direction That Ensures Total Collapse

With gold and silver surging, oil remaining over $100, and the US Dollar Index desperately trying to cling to the 80 level, today a man who has been involved in the financial markets for 50 years, and whose business partner is billionaire Eric Sprott, warned King World News that the US is headed in a disastrous direction that ensures total collapse.   John Embry also discussed the implications of the coming chaos for investors around the world.

Source: http://kingworldnews.com

Embry:  “What’s bothering me is what David Stockman referred to on KWN last week, which is the constant interference in all markets by primarily the US Fed.  It’s created a false illusion.

“The Fed will not let the stock market reflect reality, and at the same time they are running a zero interest rate policy.  So they try to keep interest rates as low as possible, but bond buyers are not being paid for a default risk, or, more importantly, a growing inflation risk.

And there isn’t an hour that goes by where there isn’t interference in the gold and silver markets.  But the good news is that there is strong physical buying in this space, and now there appears to be a bid in the paper market as well.  Consequently, even though they try, with their algorithm programs, to force the price back down, it doesn’t work — gold and silver bounce right back and head even higher.

All of this is just a precursor to a much larger move.  We have to have this basing action to head significantly higher, but we’ve seen a lot more power in the gold and silver markets than we’ve seen in quite a long time.  If you look at the past year, any time they (central planners) put pressure on gold and silver they would crush the price.  Now they seem to move gold down only $10 or so, and then gold bounces right back and wants to surge higher.  So I think this is a very promising development, and it is also being supported by the action in the mining share market as well.”

Eric King:  “Stockman was also warning about the fragility of the financial system.”

Embry:  “I couldn’t agree with him more.  I remember when Stockman was in there as Reagan’s budget director. and he was a real good numbers guy.  And when things started to get really out of control, he just washed his hands of it…..more here

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