As Bouts knows, as all of us know, Carmine is a sideshow working the stock and pulling our wires. Why even bother with him? Its all noise and all designed to inflame....and mostly crap. Just because this guy is from NY forchrizsakes and thinks he can intimidate others makes me want to puke! I'd rather clean out the cat box than read his jabs.

We all know it is about the shorts and traders, both legally and illegally making $ off the volitility. And to let anyone like that try to pretend it is all about SFMI is patently idiotic. SFMI along with most JPMs and most commodities was taken down with gobs of illegal dollars made by the funds and banks etc. We all know this!

Gold and silver are going up. The COMEX will default. SFMI and GHDC will go up from here into the next "time". But here is the real question peoples: will there be a "next time"? That is what we should all be thinking about. Let's face it...it is just a matter of timing now, and the time is short. Commodities are going on a real ride up soon so the Fed., Wall St can ride on huge profits they made in the first quarter on commdities....of course they had to fake investors out of their positons now so they could start lower. You can be well assured they are positoned for that ride.

Here is Embry' latest:

The latest from John Embry

“…(silver) is just rebuilding its base for the next move, and the next move I think is going to be huge in both silver and gold.”

With continued volatility in both the gold and silver markets, today King World News interviewed John Embry, Chief Investment Strategist at the now $9 billion strong Sprott Asset Management. When asked about the current state of affairs Embry had this to say, “My honest opinion is that we have gone so far down the road that there is only two outcomes now. You can continue QE to infinity as Jim Sinclair says, and that will lead to some form of hyperinflation or you can sort of go cold turkey and that will lead to a depression that will make the ’30’s look like a picnic. When you think about it, that is an awful set of choices.”

Embry continues:

“If they (the US) really cut back entitlements, 18.7% of personal income is coming from entitlements now. So let’s say you cut it back, well that’s great, all the people wouldn’t have any money to spend and that would put a dent in the economy. Tax revenues would fall even further, so how does that solve anything?

That’s the sort of stuff that leads to revolutions, and if you disadvantage enough people and they look around and see all the banksters with all of the dough, somebody is going to wake up some day and say, ‘Hey, let’s get those guys.’

The easy thing to do is stick your head in the sand, but if you’ve got assets to protect you have to understand this stuff or you’re going to get killed. This is going to be the biggest transfer of wealth in the history of mankind. This is going to be a seismic event. I think the action of these guys (policy makers), the way they are conducting themselves right now suggests to me that they are on the edge of panic.”

When asked about the recent downdraft in the metals Embry stated, “I think it just smacks of desperation. There is no reason silver should drop over a dollar in the access market on Wednesday, I mean that’s just JP Morgan trying to protect their ass as far as I’m concerned.

So this will run its course, and I noticed Turk said in his (KWN) blog that it could get down to $35 and I have no problem with that, I mean it’s just all noise here. It (silver) is just rebuilding its base for the next move, and the next move I think is going to be huge in both silver and gold. I think silver will easily take out $50 and gold will probably hit Sinclair’s long awaited $1,650 and go right through it like a hot knife through butter.”

When asked if this could be a big summer for gold and silver Embry replied, “Without question. One of the reasons I think so, aside from the obvious fundamentals which are screaming that people should be buying gold and silver, the other aspect is the remarkably negative sentiment. It’s shocking actually, considering what’s going on...

“I have to give the other side (manipulators) credit. They somehow have a good percentage of the populace worried about this bubble aspect which is completely false. Gold and silver are the furthest thing from a bubble, what’s in a bubble is US bonds.”

CEO Sean Boyd of $11 billion Agnico Eagle had this to say in his KWN blog yesterday, “So the vast majority of money is still not here (in the gold sector). Although if you listen to the media you would think everybody was here, the reality is they’re not.” When asked about Boyd’s comments Embry remarked, “I couldn’t agree more. Sean has been a guy all through the years who hasn’t been outspoken, but he has been a believer in his product, unlike a lot of these guys that run these companies.

I mean the guys (original gold bugs) who have been there still believe, and even some of them get shaken out by the volatility. But as far as being widespread participation, nothing could be further from the truth. It’s still a very narrow party and I think that’s why it is easy to project massive moves in this stuff (gold and silver), because there will be a point when the populace panics on the paper currencies and when that happens you are not going to believe the prices for gold and silver.

I think the demand for gold on a worldwide basis is tremendous, and I am getting some of this from a person who deals with a lot of clients internationally, and she is extremely bullish because of what she sees on the demand side and where it’s coming from.

So I think that this correction that has been going on since the end of April is strictly a paper manipulated event and it’s going to end the same way they all do, with the price rocketing out to new highs. If gold is going to $1,800, silver is going a lot higher than $50.”

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Eric King

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