Long-time metals analyst John Embry confirmed in a recent interview that the recent monkey-hammering of gold and silver prices were done to give an exit to large investors who shorted these markets.
Here are more details from King World News:
“The takedown in the gold and silver markets orchestrated by the Western central banks just reveals the desperate current state of affairs… this was done to rescue the short positions of the bullion banks, who act as agents as of the Federal Reserve and other Western central banks…
“Gold and silver are the Achilles heel of the whole financial system, but most importantly, the global banking system. For all intents and purposes the global banking system, which encompasses all of the important banks throughout the world, is broke. It has massive quantities of non-performing debt, unconscionable amounts of mispriced derivatives, and leverage which has never been approached before in human history.
“If gold and silver were to trade freely, their rapid price rises would quickly expose the true fragility of the world financial system, and the ensuing interest rate rise would seriously threaten, if not totally destroy the existing banking system. Thus, the relentless suppression of gold and silver continues.”
Gold has long been acknowledged as the “canary in the coal mine” when it comes to the health of the financial markets. When the price of gold goes up, it’s a danger sign for most – if not all – financial paper assets, including stocks, bonds and currencies. And that’s why Wall Street and Washington can’t allow metals prices to rise to reflect the true condition of the economy, and weakness of the financial markets.
How much longer do you think the big bankers and insiders will be able to suppress the gold price at or near current levels?
Tell us what you think in the comments section below.