This Catastrophic Situation Is Entering The Terminal Phase
May 15, 2013
Today John Embry spoke with King World News about the continued turmoil in gold and silver and what the central planners and China are up to as the gold war continues to rage. Below is what Embry, who is chief investment strategist at Sprott Asset Management, had to say in his tremendous interview:
Embry: “The violent takedown in gold and silver in April is still reverberating around the markets. Underneath today’s smash in the metals, physical demand is asserting itself and I think we have a limited shelf life for the paper control of this market.
I firmly believe that in the end the paper gold market will be seen as one of the greatest Ponzi schemes of any era, and it will end very badly for anyone on the wrong side of the trade. But I’m more focused on the fact that downside in gold and silver is extremely limited and the upside is staggering….