The Gold & Silver Takedown & A Major Geopolitical Eruption
July 2, 2013
With oil trading close breaching the critical $100 level, today John Embry told King World News, “The last thing the world needs at this point is a major geopolitical eruption with disastrous implications.” Embry also spoke at length about the incredible events that are taking place in the gold and silver markets. Below is what Embry had to say in this powerful interview.
Embry: “We are in a bottoming process in gold and silver. The intensity of the takedown in gold has been incredible. This was the largest smash in gold since it became freely traded in 1971. Gold plunged roughly 25% during the last quarter.
The only potential negative for gold was this ridiculous suggestion of ‘tapering.’ I don’t think there is any possibility of that taking place. If it were going to happen the stock market would have collapsed. So this was an orchestrated takedown specifically in the gold market, and it’s been a violent takedown which has gone far further than it should have….