Embry – Massive Silver Short Positions To Force COMEX Default
March 6, 2013
Today John Embry told King World News that in the silver market there will be a force majeure on the COMEX because of the massive short positions held by JP Morgan. But first, here is what Embry, who is chief investment strategist at Sprott Asset Management, had to say regarding gold: “I’ve been following the gold scene for 30 years, and I believe it’s been subject to a suppression scheme for probably the last 25 years. But I have never seen anything quite like what’s gone on lately.”
John Embry continues:
“The question I ask myself is, ‘What is going on?’ The very same factors that have driven the Dow to all-time highs, which is basically just excess liquidity in the system, should, in a real world, have driven gold and silver to record highs.
Instead they are both under enormous downside pressure in the paper markets, despite the fact that the physical markets remain very firm….