Silver Bottomed, Gold to 3,000 in two years - John Embry Interview

To me on the surface, that would seem that that wouldn't be a bottom, because yes, the
1:28
price is down, but people are still buying. Is it because just a few big buyers are buying,
1:36
or what's going on behind the physical scenes? John: I think you've got to understand the
1:41
nature if the market. That is the that, basically, there are two markets in effect. But the price
1:47
is currently still being set in the paper market, the future market on the COMEX or
1:51
over in the LBMA in London. It has been, obviously, a ploy of the world central banks, or particularly
1:59
the western central banks, but they, under the auspices of the Bank of International
2:04
Settlements, took control of the gold price. They've been able to do that. I've been wrong.
2:11
I never thought the price could go this low. As I didn't understand the full extent of
2:16
financial innovation today, the use of massive quantities of derivatives, high-frequency
2:21
trading, algorithm programs, all of these things have combined to allow these forces
2:28
to create artificial prices in the paper market that really have little to do with the true
2:33
fundamentals of the metal. What this has permitted is those people who
2:38
had not been taken in by this and have become bearish, to buy as physical at these depressed
2:45
prices as possible, which begs the question, where is the physical coming from? It's been
2:50
my contention for many, many years that it's coming out of the vaults of the western central
2:54
banks, and a lot of it is moving to China. I think, my perspective, this is a dreadful
3:01
development for the west and when China finally figures they can't get any more at these depressed



MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet