Embry – Market Manipulation More Blatant & There’s More of It
April 25, 2012
With shares of Apple soaring, stocks trading higher and gold near the $1,640 level, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry told KWN the key economic release in the US today was materially worse than expected. Embry also discussed gold and the mining shares, but first, here is what Embry had to say about the deteriorating situation in the United States: “It was a surprise to the experts who had forecast this (durable goods orders) because it was materially worse than the Wall Street projections, which were estimated to be down 1.7%, and they were (actually) down 4.2%. This is the largest decline since January of 2009.”
John Embry continues:
“If you think back (to the beginning of 2009), that was a pretty bleak period because we were just coming out of global financial crisis. This was a disappointing number. The (underlying) weakness is becoming more apparent.
Based on the Japanese experience, which has been a massive failure, I don’t foresee a different outcome in the West. The issue is infinitely too much debt in the system….