John Embry – The World Is Going To See Gold Repriced Thousands Of Dollars Higher
KingWorldNews.com
January 25, 2018
January 25 (King World News) – John Embry: “Eric, there has been constant rhetoric concerning fake news coming from all quarters. However, I believe one of the major fake news stories concerns the strength of the world economy. The governments grind out bogus economic statistics, and the alleged mainstream press embellishes the numbers and reinforces the impression that all is well. Among the worst are prestigious publications like the Economist, the Financial Times and the New York Times. As an example, the Financial Times had the gall to run a headline a month or so ago titled, ‘The unfortunate exit of an exemplary Fed Chair. The article went on to extoll Janet Yellen’s stewardship of the US Fed during her time as Chairman. Nothing could be further from the truth. She and her colleagues in the other Western central banks have fueled a historic financial bubble, which is going to end disastrously for everyone.
As I have said on many occasions, the world has infinitely too much debt. and the central banks are rapidly running out of alternatives to deal with it. Interest rates are at unsustainably low levels, financial markets are horrifically overpriced, and inflation is starting to rear its ugly head in the real economy. The central banks now face the conundrum of either tightening too aggressively and triggering a global economic and financial collapse, or continuing to supply whatever liquidity is needed — a path that will lead to hyperinflation. I have always believed they would follow the second path because it is less disruptive in the short-term, albeit a much greater disaster ultimately.
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