Shocking Reason Why Germany, Netherlands And Belgium Are Repatriating Their Gold From The U.S.
Shocking Reason Why Germany, Netherlands And Belgium Are Repatriating Their Gold From The U.S. from King World News
On the heels of today’s surprise German Bundesbank announcement that Germany allegedly repatriated 120 tonnes of gold back from the U.S. and Paris, today a 50-year veteran spoke with King World News about the shocking reason why the Netherlands, Germany, and Belgium are bringing their gold back home. He also discussed the mini-crash in China and the extraordinary move by the Swiss central bank last week.
John Embry: “I would like to open by offering kudos to my friend Egon von Greyerz for his foresight on the fate of the Swiss franc/Euro peg. I thought that was incredible analysis in the face of constant propaganda emanating from the central banks. And I hope this disruptive development serves as a warning to investors that these central banks are not the seers they are cracked up to be….
“In my opinion their monetary policies have been disastrous and the volatility that is starting to erupt in various markets stands as testimony to that statement.
Mini-Crash In China
Just today the Chinese stock market had a mini-crash as regulators moved to counter the extreme speculation the market created by the loose money policy. This loose money policy was adopted by the Chinese central bank because they are scared to death about their weakening economy.
There is a global epidemic and as the economies sink everywhere, the central banks’ only antidote appears to be greater money creation. This has had remarkably little positive impact on the global economy but it has created bubbles of varying magnitudes in all sorts of markets. The problems come when the bubbles burst as they always do. This will lead to market volatility that will make investors feel as if their hair is on fire.