Embry: We’re On The Edge of Collapse, We’ve Run Out of Time
June 26, 2012
Today John Embry told King World News, when referring to what is needed to bail out Europe, “All I know is that these numbers are staggering … We are on the edge of collapse. We’ve run out of time.” Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also told KWN that if the euro does split apart, it “will be extraordinarily chaotic.” Here is what Embry had to say about the crisis: “We’ve go to focus on what’s coming up in the short-run with regards to the European situation. It’s going to be an extremely interesting summit they are hosting this Thursday and Friday. The problems are piling up at such an enormous rate they can’t be ignored anymore.”
John Embry continues:
“There was this amazing back and forth today, where Merkel said, ‘There would not be euro bonds as as long as she was alive.’ Then, not longer after, Monti, the Prime Minister of Italy, came out and said that if there weren’t euro bonds, he was going to resign.
So this is turning into a comedy, even though it’s a tragedy….