John Embry – Why Central Banks Smashed Gold & Silver

September 26, 2011

With continued pressure on gold and silver, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. When asked about the smash in the paper gold and silver markets, Embry responded, “I didn’t think they (central planners) could pull this off (this severe of a hit in gold and silver) to the extent that they have because of the strong physical demand in both gold and silver throughout the world, particularly in the East. But when you are motivated, and they are most assuredly motivated, I think the response is often in proportion to the problem, and their problem is massive.”

“So I am not surprised that they really laid the lumber to it. As it has throughout the entire bull market in both silver and gold, which began at the beginning of this century, this just creates another fabulous buying opportunity, this may be one of the best ones.

What I find reprehensible about the whole thing is the poor, little guy out there who is struggling at the best of times here, their (central bank) actions (interventions in gold and silver) are driving some of them away from the metals. It’s wrong, in the end that’s what is going to be his salvation.

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via My Blog.

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