Today a man who has been involved in the financial markets for 50 years warned King World News that the world is headed for a major disaster 2015. John Embry, who is business partners with billionaire Eric Sprott, said the global financial system will see enormous turmoil in the coming year as the Western central planners head further down the Orwellian path.
At the same time gold and silver are being controlled, the Plunge Protection Team has created a severely overvalued U.S. stock market by supporting it irrespective of what the news backdrop is. So we now have a lot of ‘hot’ money that has entered the market. And by any metric I look at, this has led to the stock market being one of the most expensive, if not the most expensive market in history of the United States.
The reason for this activity in the precious metals market is abundantly clear to me at this point. If gold and silver traded without severe manipulation in the massive paper markets, which dwarf the physical markets, the prices would be sharply higher. I don’t think it would be unreasonable to say they would be at least twice the current prices and silver could easily be three times the current price — a level it already traded at for brief moment over 3 1/2 years ago.
Embry also added: “The fact that gold and silver have been held under the boot of corrupt Western central banks just demonstrates that the pricing power still resides in a fraudulent paper market where there are at least 100 claims for every available ounce of physical gold. When this great Ponzi scheme unwinds, and it most assuredly will, people had better make sure they own a lot of physical gold and the respective equities because the repricing of gold will create one of the most violent upside moves in history.”
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