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Old 06-26-2013, 04:54 PM   #1
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Default 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.

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.

If we look at Japan, the whole Japanese experiment is a joke. Their embedded debt is 250% of GDP, and they’ve got an aging and shrinking population. And they are talking about printing their way out of their deflationary environment, but it won’t work. It’s going to lead to a complete destruction of that entire society.

Over in Europe I see today that Italy is in deep trouble again. That’s not a surprise because really the entire periphery in Europe is in trouble and they are just doing this dance to buy time and pretend they will come up with some solution. But the reality once again is there is no solution.

Then, in the United States, which is the lynchpin of the Western world, you read all of the propaganda that things are getting better, but if you get inside the economic numbers, things aren’t getting materially better. And if they weren’t printing the $85 billion a month things would be getting much worse. So the idea you are going to have any significant tapering going on any time soon is preposterous. If they taper we will move into a debt deflation that will make the 1930s look like a picnic.”

Eric King: “What is going to be the spark to turn the metals around here, John?”

Embry: “I think there are two things going on right now. As you know, the bullion banks are as aware as anybody about what is coming. They have been massively short for the better part of two decades. They have been effecting the suppression of the gold price.

Now the bullion banks know the jig is up and they are moving rapidly from being massively short, to getting long the metals. At the same time the Chinese, Russians, and others accumulating physical gold don’t have any great necessity to see the price rise in the short-term if they can acquire gold from the West at these bargain prices.

But when you get the bullion banks correctly positioned from their perspective, and the Indians, Russians, and the Chinese realizing they can’t get any more gold from the West at these prices, then I think you are going to see a dramatic markup in the gold price.

KWN readers around the world have to understand that as global chaos increases, such as we have seen recently, it is a sign we are going to have to recast the entire world currency system. And when that time comes I suspect it will be a basket of currencies, and so the US will lose its reserve currency status.

The new system will be backed by hard assets, one of which most assuredly will be gold, and the gold price could well be revalued overnight in that process. The timing of all of this is imprecise, but it’s inevitable. So as much as the short-term price action might have people frustrated, it shouldn’t disturb their long-term view in the least.”

© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. However, linking directly to the blog page is permitted and encouraged.

The audio interviews with Dr. Paul Craig Roberts, MEP Nigel Farage, Rob Arnott, Egon von Greyerz, Gerald Celente, James Turk, Dr. Philippa Malmgren, Eric Sprott, Jim Grant and Art Cashin are available now. Also, be sure to hear the other recent KWN interviews which include Marc Faber and Felix Zulauf by CLICKING HERE.

Eric King
KingWorldNews.com
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Old 06-27-2013, 03:57 PM   #2
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Good post. I like Embry -- and KingWorldNews

What they are doing is illegal. If you or I manipulated the market in this way we would end up in prison -- probably for life. But the financial elite controls the SEC so the Fed manipulates with impunity.

The reason must be to try to protect the dollar. Is it working? Hellifiknow. But even if it is -- it can't go on for very long.

When will the shyte hit the fan? No way to tell.

But when it does -- gold and silver will go up like a rocket -- and stay up.

MHG
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Old 06-27-2013, 05:16 PM   #3
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Still predicting a world collapse. How many has this been......hundreds?....thousands?

Crying 'the end is nye' since the 19th century.

What a sad way to live.
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Old 06-27-2013, 11:18 PM   #4
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It's not far-fetched to predict a global currency or the dollar losing it's reserve status. It doesn't mean the end of the world. Even if it gets as bad as the great depression, it wasn't the end of the nation, much less the world. On the bright side, technology continues to get better.
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Old 06-28-2013, 12:34 AM   #5
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The end is near! The end is near!

No...we really mean it this time.
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Old 06-30-2013, 01:14 PM   #6
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Billionaires Are Dumping Stocks at an Alarming Rate

They include Buffet, Soros, and John Paulson.

http://www.warrenbuffett.com/why-bil...alarming-rate/
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Old 06-30-2013, 01:16 PM   #7
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PCR: There is no recovery...

http://www.kingworldnews.com/kingwor...g_Roberts.html
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Old 06-30-2013, 01:26 PM   #8
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Quote:
Originally Posted by mhgaffney View Post
Billionaires Are Dumping Stocks at an Alarming Rate

They include Buffet, Soros, and John Paulson.

http://www.warrenbuffett.com/why-bil...alarming-rate/
Very strange article, no byline and no date.

And this......
Quote:
Wiedemer and some of the billionaires mentioned above, are going ALL-IN on precious metals such as gold and silver. And so far, they’ve been right. Gold is hitting record levels, with no signs of slowing down,
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Old 06-30-2013, 01:38 PM   #9
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Whistleblower Andrew MacGuire says the Indians/Chinese just purchased 580 tons of gold...

MacGuire says the Fed's downward manipulation of gold and silver cannot continue. It is being driven by naked short selling in the paper markets.

According to PCR, the Fed is doing this to support the dollar -- and to help insiders in the too big to fail banks to make easy money. He calls it recapitalization.

However, the Chinese and Indians are also exploiting the situation to acquire large quantities of physical gold. The Chinese are buying gold with their huge reservoir of US dollars.

580 tons of gold is more than the annual rate of production of all existing gold mines.

That cost what in US dollars? Imagine the inflation this could cause if this flood of US dollars gets flushed into the economy. This alone could push us into hyperinflation.

Macguire says the market will eventually turn against the manipulators. New gold markets are appearing all over the world. Demand has never been higher. When the US/UK manipulators lose control of the market gold/silver prices will soar. Mark

http://www.kingworldnews.com/kingwor...w_Maguire.html

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Old 06-30-2013, 01:49 PM   #10
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Quote:
Originally Posted by DenverBrit View Post
Very strange article, no byline and no date.

And this......
I don't trust supposed financial wisdom that uses "alarming" and "shocking" (and suchlike words) in quantity.
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Old 06-30-2013, 01:51 PM   #11
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Very strange article, no byline and no date.

And this......
There are plenty of sources on this. Here is another.

Do Soros and Buffet know something that you don't?

http://www.moneynews.com/Outbrain/bi...MO_CODE=FE8A-1
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Old 06-30-2013, 02:27 PM   #12
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Quote:
Originally Posted by mhgaffney View Post
There are plenty of sources on this. Here is another.

Do Soros and Buffet know something that you don't?

http://www.moneynews.com/Outbrain/bi...MO_CODE=FE8A-1
Same source, same story, different outlet.

Everyone knows there is a correction coming, but the claim that it will be 90% is laughable. Profit taking at the perceived peak of the market is nothing new and is expected.
Moving out of consumer dependent stocks is no surprise.

My guess is the article is nothing more than someone promoting a book. Do a search and this same Newsmax article is reproduced verbatim on dozens of 'doom and gloom' sites.

If Buffet were 'dumping' stocks it would be all over the financial sites; reducing his exposure by 21% in a stock is NOT dumping. Good grief.
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Old 06-30-2013, 02:28 PM   #13
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I don't trust supposed financial wisdom that uses "alarming" and "shocking" (and suchlike words) in quantity.
Exactly. All that's missing is:

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Old 06-30-2013, 02:56 PM   #14
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Ya know, there's a difference between predicting a collapse and rooting for it.
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Old 06-30-2013, 03:03 PM   #15
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Ya know, there's a difference between predicting a collapse and rooting for it.
gaffe doesn't think most of humanity deserves to exist, because most of humanity mocks him.

He just wants lots of us dead. We're not fit to share the planet with him.

He's a mentally ill goofball.
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Old 06-30-2013, 03:03 PM   #16
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Quote:
Originally Posted by mhgaffney View Post
There are plenty of sources on this. Here is another.

Do Soros and Buffet know something that you don't?

http://www.moneynews.com/Outbrain/bi...MO_CODE=FE8A-1
I can see why der Gaffo is attracted to these guys. What's their message? The world is coming to an end. Buy my book!
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Old 06-30-2013, 08:10 PM   #17
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The knee-jerk reactions to Baja and Gaff are a bit extreme. It's like "Let's skip over any possible economic depression and go straight into Mad Max territory." Let's ridicule them with "the end is nigh!" even though the article is about a temporary crisis and carrying on with a recast currency system.
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Old 06-30-2013, 08:15 PM   #18
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Quote:
Originally Posted by Arkie View Post
The knee-jerk reactions to Baja and Gaff are a bit extreme. It's like "Let's skip over any possible economic depression and go straight into Mad Max territory." Let's ridicule them with "the end is nigh!" even though the article is about a temporary crisis and carrying on with a recast currency system.
Are you familiar with Aesop?

Something about a wolf. And a boy. And crying.

Was there some fable about a wolf that cried boy?
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Old 07-01-2013, 03:51 PM   #19
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Ya know, there's a difference between predicting a collapse and rooting for it.
You are confused.

The best thing that could happen, the best way to avert the next big world war, would be for the too big to fail banks to collapse of their own weight -- in a similar way that Madoff's ponzi pyramid collapsed.

This would benefit the 99% You don't agree?

No surprise that W*gs supports the too bigs. After all, it rymes with W*gs.

MHG
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Old 07-01-2013, 06:04 PM   #20
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I think there is some truth to this article - the Fed is under "heat" because they didn't handle this correction properly. I do think gold has gotten a little undervalued recently, particularly Barrick - I did pick up a little stock on this. I doubt it drops much more than the 33% it has already lost.
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Old 07-02-2013, 11:52 AM   #21
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Quote:
Originally Posted by mhgaffney View Post
There are plenty of sources on this. Here is another.

Do Soros and Buffet know something that you don't?

http://www.moneynews.com/Outbrain/bi...MO_CODE=FE8A-1
You keep posting debunked claims. This one never got off the ground.

Quote:
In a recent interview for his newest book Aftershock, Wiedemer says, “The data is clear, 50% unemployment, a 90% stock market drop, and 100% annual inflation . . . starting in 2012.
You're in a permanent 'blind squirrel' mode, are you cosigning Wiedemer's book? MoneyNews is pimping his book bigtime.

http://www.moneynews.com/Archives/Tr...O_CODE=103FC-1
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