We are very close.From King World News (KWN) today Dec. 15/11
Embry - This Gold Smash Will Pass, the Case for Fiat is Zero
Excerpts:
Investors should be buying these beaten up gold and silver stocks. This is one of the great trades that you could possibly make. The algorithm trading has pushed a lot of legitimate holders to the edge by the price action, which has created forced margin selling. It’s creating remarkably cheap stocks.”
When asked about silver specifically, Embry stated, “The physical silver market is as tight as can be. The people who are short the paper market (in silver) are bankrupt, almost to a man. Consequently, their actions are not those of rational men, they are those of desperate men. JP Morgan is trying to protect their short positions and so this move down has a very finite life.
So you are going to have days like this and I still say silver will be $60 within the next three to six months. As much as I love the gold story, the silver story is much stronger because of the lack of above ground supply. In the future, there won’t be enough silver to fill the demand for investment purposes and the price is going to go berserk to the upside.”
When asked what he would say to calm the nerves of gold and silver investors globally, Embry remarked, “As I’ve said all along, if you don’t like gold and silver, you like the prospects for fiat paper currency. With a world that’s tens of trillions of dollars in deficit and can’t service the existing debt, the case for fiat paper currency is zero. You can’t make a case for it.
So on that basis gold and silver, which is the real money, can only do one thing in the future and that is move higher. I’ve been through this so many times with these guys (the cartel) who can take the gold market apart and scare the life out of most humans, and it’s just noise. It’s gone on over and over and over again. In the end this will pass like they all have and gold will move on to new highs.”