[Sensbachtal]

With stocks continuing to struggle and the gold holding near the $1,620 area, today King World News interviewed John Embry, Chief Investment Strategist of the $10 billion strong Sprott Asset Management. When asked about the action in gold and stocks, Embry responded, “I think a lot of it relates to what’s happening in the stock market. Despite the best efforts of the Plunge Protection Team, the stock market had two brutal days. On Friday, the last day of September, they couldn’t hold the Dow above 11,000. Once again, yesterday, despite their best efforts it plunged again.”



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John Embry continues:



“But the fact is when this is going on they can’t have gold look good and so consequently they throw everything they can at the gold market. We were $1,680 overseas and once the COMEX gets going they drop the price $50 like it’s nothing. It’s all just paper shenanigans and I guess they are able to access from the various central banks and ETF’s, enough gold to facilitate this activity.



The longer-term sustainability of this is zero and the price is going to go up to levels that nobody is going to be able to comprehend. One technical service that I look at suggests that the window is closing to the downside and this week and today might be the bottom.



We know how they (the cartel) operate, if there is every reason in the world to buy gold, they drive it down. This activity is driving a lot of the people out of the market because they can’t stand the counterintuitive volatility. When this is all over, many people who would otherwise be predisposed to gold won’t be there because all of this action will have driven them to the sidelines and they will be sitting in the wrong stuff.”



When asked about action in stock markets, Embry replied, “The stock market looks absolutely dreadful and I think it could break down and head back to the lows of 2009. Why not? I mean the fundamentals in the economy are terrible and the only thing that can save it is money printing and before we get to that level I think we are going to have a horrific clean out of the market before the unlimited printing of money is revived....




















When asked about silver specifically, Embry stated, “I have a number of thoughts on this situation. First, I think the CFTC has sort of pushed off the ruling on the position limits for a few weeks to give the large bullion bank with the enormous short position more time to deal with it. Part of dealing with it involves getting the price down as low as possible and getting all of the speculators out.



The open interest in silver is back to what it was when silver was $7 to $10, you haven’t seen it this low for a long time. So this has been effective, they have gotten the paper speculators out.



My coin guy came over to see me yesterday and I asked him, ‘How’s your silver market these days?‘ He said, ‘I just got three boxes of maple leafs in or about 1,000 coins.‘ I asked him how they were selling and he said, ‘They are going out the window, all but 50 coins are gone.‘ I asked him what price he was selling them and he said, ‘$38 an ounce.‘ That’s with the paper price $30 to $31. So the smart guys know this is a rig job and they are getting their hands on what silver is available as fast as they can.”



When asked about Turk’s comment that we will see another ‘Lehman moment,’ Embry said, “Well, I think there is a real probability of that. If you look at the European situation, there is always something they are trying to patch together, but one of these things will get away from them. For all I know it could be Morgan Stanley (on the US side), it could be anybody. Morgan Stanley’s credit default swaps are blowing out to levels that would suggest that these guys are going to the wall.”


http://kingworldnews.com/kingworldne..._Downside.html

[GfBTWMmV]

You have to watch gold , GC is knocking on the lower resistance door again, and it's
Tuesday, early week there is pent up demand, end of week is setup to drops, then at
times you get the killer drops early next session, we have seen these patterns for years.

There is no urgency in the COT chart, Embry talks about one aspect of it, OI,
this is positive for SI yes, as far as CFTC enforcing position limits against
FED agents, I don't believe that, they will never stop controlling GC and SI
till the end, and even then they will profit from it some how. They will spread it
around if they have to, who is addressing the fact that the main market rigger
is MM ?

Embry is making a mistake talking SI bottom, SI will follow GC.
GC , good chance for a full correction, today is confirmation of this.

This is a good point for a PM purchase, considering widening margins
and stock disappearance on major drops.

KITCO MAPLES, they keep changing their shipping policy, even daily, APMEX is overpriced.
USD $ 33.35 ea. APMEX $35.49
https://online.kitco.com/bullion/completelist_USD.html

Silver Eagle 1 oz
Product details
USD $ 34.40 ea. APMEX, $35.62

Silver Philharmonic 1 oz
Product details
USD $ 34.15 ea. APMEX $35.54

Just a few days ago these differences were greater.

[levitratestimon]

You have to watch gold , GC is knocking on the lower resistance door again, and it's
Tuesday, early week there is pent up demand, end of week is setup to drops, then at
times you get the killer drops early next session, we have seen these patterns for years.

There is no urgency in the COT chart, Embry talks about one aspect of it, OI,
this is positive for SI yes, as far as CFTC enforcing position limits against
FED agents, I don't believe that, they will never stop controlling GC and SI
till the end, and even then they will profit from it some how. They will spread it
around if they have to, who is addressing the fact that the main market rigger
is MM ?

who is MM ?

i was trying to think - JP Morgan, US gov., HSBC, mainstream media - i couldn't figure out who MM is.

[GfBTWMmV]

who is MM ?

i was trying to think - JP Morgan, US gov., HSBC, mainstream media - i couldn't figure out who MM is.

JPM, they are the main Market Maker. You have to be MM to do the algorithms they
are doing and putting the price where ever they want, to maximize their profits and take
all the options into consideration, minimizing payouts. They don't take bids when it suits
them as well. They are breaking lots of rules that you would find even on NY stock exchange.
Posted about this lots of times, and Nasdaq, " the future " , they weren't kidding, Madoff.