Embry – We Are Seeing Mounting Shortages Of Gold & Silver
September 14, 2012
With gold on the move once again, today John Embry told King World News, “I’m still of the mind that we will be in record territory before year end.” Embry also said, “We did our bit by buying another $392 million worth of gold for the Sprott Physical Gold Trust.” Embry spoke about silver, “I’m wildly bullish on silver. I don’t think the physical market has ever been this tight.”
Here is what Embry, who is Chief Investment Strategist at Sprott Asset Management, had to say: “I think the action is positive, but at the same time I’m infuriated by the continued interference with the markets by the powers that be. There is tremendous manipulation going on in both gold and silver right now. Two days before the QE announcement they dropped the price of silver about $1.50 in a nanosecond.”
John Embry continues:
“It’s the same games being played by the same people, and it’s going to end horribly because all the manipulation is doing is creating wonderful buying opportunities for the Chinese, the Russians, and the rest of the central banks that know full well what’s going on.
In the fullness of time, this group of manipulators will be seen to have eclipsed the blunders and the folly of the original London Gold Pool….