John Embry – Some Long Time Gold Holders Are Now Capitulating…

John Embry – Some Long Time Gold Holders Are Now Capitulating…

As the gold and silver markets attempt to stage a rally, today John Embry told King World News that some long time gold holders are now capitulating.

John Embry:  “Well, Eric, it has been over three weeks since we last talked and a lot has certainly happened in the interim…

“I find the thing that is most amazing to me is how the deep state, after being totally wrong-footed by the Trump victory, has been able to almost instantaneously change the narrative about the impending Trump presidency through heavily manipulated market price action.  As you well know, the U.S. stock market fell precipitously as Trump’s presidency was confirmed, only to rise even more rapidly to record levels within days.  This strength, in conjunction with a robust U.S. dollar, has continued virtually unabated for three weeks.

On the other hand, gold and silver which were expected to rise sharply in the wake of a Trump victory in much the same fashion as occurred after Brexit, were virtually slaughtered in the paper markets after a brief burst of strength.  Obviously, the central banks and their bullion bank cohorts learned from the Brexit experience and were lying in wait this time.

To their credit, the price takedown in the paper markets has worked in the sense that I have been told that a number of long term gold holders have been so discouraged by the price action that they have actually been dishoarding physical gold.  The unfortunate reality, however is that sustainable economic growth, which is now the mantra of the stock market bulls in the wake of the Trump election, is not achievable.  In a world this saturated with debt and derivatives, any aggressive stimulus, monetarily and/or fiscally, will manifest itself primarily in greater inflation, most probably culminating in hyperinflation.

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King World News

Interviews with market experts from around the world with a focus on precious metals.