Sat, Aug 20, 2011 - 12:10am
When asked about silver specifically Embry remarked, “Silver is absolutely explosive. The bullion bank with the large short position has thrown everything but the kitchen sink at the thing on the downside. You had those five margin hikes a couple of months ago as an example and that was all an attempt to hold back something that I don’t think can be held back. All it did was sort of buy two or three more months and now silver is building up power to roar through the $50 all-time high.
Once silver does that (breaks $50), who knows where it’s going to go? All I know is that gold is going a lot higher and the gold/silver ratio is going down and that means silver is going a lot further than gold. So I mean pick your prices, they are going to be dramatically higher for both of them.”
“You have a number of bullion banks with vaulting facilities now and given their previous activities in this market, I mean I wouldn’t trust my gold in their hands because it could be coming out as well. So there are any number of sources in the short-term. I believe this really aggressive investment demand will continue as more and more people become afraid of the financial system.
There were some brilliant studies that were revealed at the GATA Conference. One study showed that had you just taken the trade during the Comex hours over the past number of years, I forget if the chart was five years or ten years, but gold has been up dramatically, and Comex action alone, by itself would have netted out an actual decline in the gold price of $500 an ounce based on price changes just during the Comex hours.
That’s just statistically aberrant, it couldn’t happen unless there was manipulation. It shows the extent of the manipulation. Eventually the cartel will run out (of gold) and when they do look out because the price is going way, way higher than anybody imagines....
Edited by: bensgone on Nov 8, 2014 - 5:08am