Today a 50-year market veteran warned King World News that the unsuspecting public is being led into immense financial destruction.
November 4 (King World News) – John Embry: “Well, as I remarked to you last week, Eric, about the huge buildup in the commercial – i.e. bullion bank — short interest on the Comex in gold. I said that we were either going to see a commercial signal failure, where the shorts were overrun, which is a very rare event, or we were going to experience a prodigious selloff as the shorts would force the longs to dump their positions. It didn’t take long to find out the outcome…
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