Sinclair's MOPE is in effect. Black is white. Up is down. There is no inflation. Never let a crisis go to waste. The Cartel continues to whack G&S and get its commentators to spin the price down.

Embry interviewed on King world News.

With gold and silver still consolidating, today King World News interviewed John Embry, Chief Investment Strategist at the $8 billion strong Sprott Asset Management. When asked about the action in gold Embry stated, “I think you have probably seen the worst of it yesterday and if not we’ll just kind of range trade for a while until it finally breaks to the upside. It’s not the gold price we should be worrying about, it’s how many ounces we own because the money is being destroyed. Who knows what the nominal price will be, all I know is it’s going to be a lot higher.”

March 16, 2011

Regarding the US Dollar Embry remarked, “Well the fact that it isn’t rallying here Eric I think is a bad sign. In every other instance like this, I mean the dollar would be on wheels to the upside. But I think it was Dan Norcini that was saying, right now the currency of choice is the Swiss Franc. The dollar is barely treading water, I think that’s a real harbinger of bad things to come for the US dollar.

I think the dollar could be under more pressure right now. The fact that we had this tragedy created a bit of a safe haven bid in the US, but it was short-lived. I mean the bonds rallied, the dollar had a little bit of an uptick but now it is right back at the lows.”

When asked what it will take to get the public involved in the gold market Embry commented, “If it takes out $2,000 with gusto, I think then you might start to see more widespread public participation. Right now not many people are involved. This will be a bull market that goes much longer and one that goes infinitely higher than most people can even imagine.

Regarding the gold shares lagging the bullion price Embry stated, “Well you know I agree with Jim (Sinclair), I think there is an unseen hand here with these hedge funds and various entities and bullion banks conceivably. It’s all an orchestrated attempt to keep these things under control. I own a few companies that I love and they just trade wrong. I mean no matter what happens there is an unseen hand selling them, providing just enough selling to keep them in line. So to me this isn’t natural trading at all.

When asked about silver specifically Embry noted, “I think the gold/silver ratio is going to decline significantly from where it is. Based on our enthusiasm for where the gold price could go, the silver price could go ballistic. I see no problem with $60 to $100 silver over the next couple of years.

At the start of the year John Embry told KWN readers and listeners the initial pressure on the metals would mark the low for the entire year in the gold and silver price and so far that has proven to be the case.

Eric King