Global Chaos Signals World Currency System Will Be Recast

As the two-year cyclical bearish phase in the gold and silver markets is coming to an end, today John Embry told King World News increased global chaos now signals “the entire world currency system” will be recast. Embry also spoke with KWN about how Western propaganda is being used to paint a false picture about the harsh reality of what is really taking place around the world. Below is what Embry had to say in this powerful interview.

Embry: “What’s going on right now in gold and silver is preposterous. The gold price has been driven down roughly $600 from its peak in August of 2011. But if you really examine what’s unfolded in that ensuing period, there isn’t anything that would justify the gold price going down to any extent, let alone $600.

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This has been a wonderfully orchestrated maneuver by the bullion banks, the Western governments, and their respective central banks. And it’s destroyed the psychology of most people that don’t understand the gold market extremely well….

“But what goes unremarked is that when gold was at its peak they used to talk about gold being in a bubble. That was ridiculous because if you looked at returns for capital that gold mining companies were getting, they were adequate at best. If you have a real bubble, the people that are benefitting from it will be making a fortune, but the gold companies most assuredly weren’t.

Now when you’ve got gold at $1,285 and everybody is bearish, the mining companies are being slaughtered. If this continues much longer some of them won’t exist. You see the write-downs that many large companies are taking in the billions of dollars, and Barrick laying off massive amounts of staff, it just illustrates this is clearly unsustainable.

So I think people should just relax and start buying because gold, silver and the quality mining shares are incredibly cheap.”

Embry also added: “The thing that is evident, and it’s been evident for a considerable period of time, is that QE has been non-stop virtually throughout the entire world. They keep coming out with this propaganda that they are going to be tapering it or cutting back, and yet they can’t.

You see more and more examples of this propaganda. Today we had the Chinese stock market in a state of collapse, so the Chinese had to come out and assure everybody they were going to provide enough liquidity to shore up their market.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/6/25_Global_Chaos_Signals_World_Currency_System_Will_Be_Recast.html


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