Embry – Economic Deterioration, Gold & Market Manipulation
July 16, 2012
Today John Embry told King World News, “As the global economy continues to deteriorate, the natural reaction to that (by central planners) is to create as much money as humanly possible, to make sure that it (the economy) doesn’t implode.” Embry also said, “To me, that’s enormously supportive of higher gold prices.”
Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also discussed market manipulation. Here is what Embry had to say: “Gold survived another attack from the other side last week, and posted a very strong recovery on Friday. So I’m not the least bit surprised meeting resistance today because one of the mantras in this whole gold suppression scheme is to keep excitement to a minimum.”
John Embry continues:
“One way you do that is you don’t permit follow-through of any significance. You don’t have a day where gold is up 3% or 4%, and then follow it with another day like that. So now gold is struggling to hold its price it reached on Friday.
But the fact is we are coming into a seasonally strong period of demand….