John Embry – This Is Why Silver Will Smash Through $100
December 10, 2012
Today John Embry spoke with King World News about why the price of silver is going to smash through $100 and what the Chinese are up to in critical markets. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “The central planners recognize that the whole system is based upon keeping the collateral that’s supporting all of this debt elevated. Consequently, if gold and silver were to suddenly start to rocket up in price and truly reflect what’s going on, interest rates would follow briskly behind them and the whole bond market would literally collapse.”
John Embry continues:
“If that took place it would put enormous pressure on the banking system and we would see total chaos. So the powers that be are going to fight this tooth-and-nail, but unfortunately for them they are losing in the physical market. Gold sales from the US Mint have been exploding since Obama was reelected, and yet the paper price is actually down.
So what does that tell you?….