Pierre Lassonde Interview About To Be Released. For Now: John Embry – The World’s Debt Explosion Risks Global Collapse
KingWorldNews.com
November 03, 2017
With the Dow and Nasdaq hitting new highs again this week, today John Embry warned King World News that the world’s debt explosion risks global collapse.
The World’s Debt Explosion
November 3 (King World News) – John Embry: “Eric, as far as I can see there is very little, if any, legitimate price discovery occurring in any market of any significance today. They are all being influenced by the central banks are their cohorts in order to create the impression that all is well in the world…
John Embry continues: “For example, there seems to be confusion as to what is going on in the world of interest rates. Many central bankers are discussing withdrawing accommodations, shrinking their balance sheets and raising short-term interest rates due to the alleged strength in the world economy. In my opinion, whatever economic growth is currently occurring is unsustainable due to the grossly over-indebted state of the entire global economy. Thus, the central banks are using moral suasion to retain confidence in the present pure fiat currency system, without having any real ability to tighten. If they were to raise rates to any real degree and significantly reduce liquidity, I believe the world economy would quickly begin to recede and the whole debt pyramid would collapse.
The Rest…HERE
