As the gold and silver markets attempt to stage a rally, today John Embry spoke with King World News about the doomed EU experiment and the FT’s anti-gold propaganda.
The Doomed EU Experiment
John Embry: “Eric, I was absolutely delighted to see James Turk’s reference Otmar Issing’s very revealing comments about the current state of the European Union. Coming from a true insider, these observations have to be taken very seriously…
“As you know, I have been a skeptic from the outset regarding the EU experiment. Some have believed from the beginning that it was a trial for a one world government. And its obvious failure should hearten all of those who believe in liberty, true democracy and individual freedom.
The idea that you can have a monetary union of very disparate countries with absolutely no firm fiscal controls was a glaring error from the outset. To be fair, the union did solve one major problem that plagued the continent from the first half of the 20th century and that was military conflict. However, it inflicted economic and financial ruin on the countries in the southern periphery and has essentially destroyed the European banking system.