John Embry – Chinese Demand For Silver Has Exploded
December 17, 2012
Today John Embry told King World News Chinese demand for silver has skyrocketed. He also spoke about what to expect in 2013 for gold, silver and the global economy. Here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say: “They are still mumbling about the fiscal cliff and there seems to be limited progress on that front. I suspect they will get something cobbled together instead of letting this get to an extreme point because if they let this thing go over the cliff it would be disastrous.”
John Embry continues:
“Removing that much stimulus from the US economy right now would be unfathomable considering how weak it is. Up until a decision is finalized, they are holding gold under $1,700 and silver below $33, but if you just stop and look at the fundamentals for silver, it’s preposterous silver is trading where it is.
Silver should be trading much higher than its current price, but it just shows the power of paper in the very short-term….