Embry – Gold To Spike As Physical Market Is Shockingly Tight
August 13, 2012
Today John Embry, who is Chief Investment Strategist of Sprott Asset Management, spoke with King World News about the shockingly tight physical gold market. He also discussed Europe, the United States, stocks and silver. Here is what he had to say: “The US stock market has been levitating over 13,000 for a bit, and I was struck by an article in the NY Times which featured Jack Bogle, who started Vanguard Funds. Jack said, ‘It’s urgent that people wake up because this is the worst time for investors that he’s ever seen, and he’s been in the business for more than 60 years.”
John Embry continues:
“When you put what he said together with the fact that the VIX is at the lowest level since 2007, they contradict each other. But I would be inclined to go with Bogle. It’s my firm belief that the stock market is being supported by the PPT (Plunge Protection Team).
Right now I think the market is extraordinarily vulnerable to the realities of what’s going on in the world….