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John Embry - There Will Be a Mania in Gold & Silver Shares

oil&gas

Well-known member
Apr 16, 2002
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Ghawar
http://kingworldnews.com/kingworldn..._Will_Be_a_Mania_in_Gold_&_Silver_Shares.html

Eric King
November 25, 2010

With gold settling around $1,375 and silver holding $27.50, King World
News interviewed John Embry, Chief Investment Strategist at Sprott Asset
Management. When asked about the negativity surrounding the advance in
gold and the disbelief in the upward price movement Embry said:

“I think it’s very simple, the mainstream press is so negative on
gold, and you get all of these high profile commentators like Dennis
Gartman and they are always out saying the same thing. They are just
sort of putting out the idea that, ‘Oh yeah, it may go a little bit
higher BUT then it’s going to get smashed.’”

Embry continues:

“And I think collectively this type of propaganda I would call it,
works on the average man’s mind. It’s created a collective negativity
which is in my opinion dead wrong, and it just sets the stage for the
next big up leg in both metals.”

When asked if we will see a repeat of the mania from late ’79 early
’80 where the share prices of some juniors skyrocketed between 34,000%
and 542,000% in price Embry replied, “I would say unquestionably. I
have been quoted a few times saying 5 and 10 baggers will be commonplace
but I honestly think that this thing is big enough that we will see
valuations at stupid prices, the likes of which we haven’t seen since
the internet craze. It will be of that magnitude I believe before this
thing runs its course.”

When asked why more seasoned professionals were not talking about an
explosion in the price of silver John said, “Well, I’ll tell you
one pro who’s talking about a blastoff and that’s my partner Eric
Sprott, who if you check his record over the last 25 years, he’s
probably as prescient as any man on earth. And he said to me the other
day, ‘I think this thing is going to be $50 in several months and I
think it’s the absolute investment of the decade if not more.’ So,
I mean there’s one guy who’s opinion is worth listening to who thinks
the silver price is just getting ready to go ballistic.”

Regarding gold Embry stated, “The debt in the system and the whole
financial fragility of the whole system does not give them the option
of withdrawing liquidity from the system. It forces them to pour more
liquidity into the system. So, therefore gold is the monetary metal. It
is not gold that’s changing, it’s been money for thousands of years,
it’s the value of the paper money that’s changing. And if these people
are required to create more and more money to keep the system intact,
the price of gold is going to go up in terms of that paper money.”

The complete in-depth King World News interview with John Embry will be
released shortly.

John Embry has been in the business for 48 years. At the beginning of
the secular bull market in gold, John was the only mainstream (RBC
Capital at the time) institutional individual to proclaim the bull
market in gold. RBC was saying that’s not the message of the bank,
so John was taking a lot of heat for his stance. Fortunately for all of
us Eric Sprott hired John out of the mainstream and the rest is history.
 

hinz

New member
Nov 27, 2006
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Another pitchman working for Eric Sprott.

BTW, it sounds like time to unload some of the Gold & silver holdings, aka take some money off the table and keep the rest for "fun".

Let those sheeple to buy those frothy shares hand over fist and then you unload another half after you get another double.

Not going to feel sympathy to those greedy suckers who are the last one to hold those shares before the gigantic bubble burst.
 
Ashley Madison
Toronto Escorts