John Embry – $3 Billion Paper Gold Selling Scam Backfires As U.S. Economic Collapse Picks Up Steam
John Embry – $3 Billion Paper Gold Selling Scam Backfires As U.S. Economic Collapse Picks Up Steam – King World News
With the U.S. dollar tumbling along with stocks as the gold market continued to surge, John Embry told King World News that the $3 billion paper gold selling scam backfired today as the U.S. economic collapse picks up steam.
John Embry: “Eric, it appears the powers that be are becoming increasingly desperate and transparent as things deteriorate economically, financially and geopolitically. Bogus government statistics, fake news and manipulated markets are intensifying to the extent that I believe even (George) Orwell would be dazzled…
“The action in the stock market on Monday was a classic case in point. After a very weak day to end last week as well as a dismal news backdrop over the weekend, the Dow magically rallied over 180 points on Monday. This indicates to me that the authorities believe that they can’t allow a correction to get underway because it could easily snowball into a panic in view of the historical overvaluation, weakening economy, and a deteriorating profit picture.
Compounding the problem is the condition of pension funds in North America, which despite ludicrously overpriced stock and real estate markets and unsustainably low interest rates, are seriously underfunded. If those three primary asset classes were to decline significantly from current levels, there would be a pension crisis the likes of which has never been seen before.