John Embry: Massive QE Near as System Moves Closer To Collapse!
- Embry – Massive QE Near as System Moves Closer to Collapse!
With gold moving towards the $1,700 level, up another $23 today, and silver closing in on $33, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. Embry said US Treasury Secretary Tim Geithner’s comments prove that massive money printing is necessary in order to avoid a collapse. Here is what Embry had to say about the situation: “There is so much interference in the gold market. Because of that it will be interesting to see what price level will spark interest in gold again. I do think it’s important to recognize the news backdrop, the real news, not the constant babble that is coming out of the powers that be.”
I think the backbreaker would be a recognition that all of this economic recovery being touted in the US is all just smoke and mirrors, that it really isn’t happening. It’s just a bunch of people playing with numbers and in fact the economy is getting ready to go the other way.
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