World Economy In Deep Trouble But It’s All Part Of The Big Manipulation
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October 7 (King World News) – John Embry: “Last Friday, Eric, the price of gold shot up in the wake of a very disappointing jobs number in the U.S., which was materially lower than every economist’s prediction. But gold was rallying from $50 lower than the high of the previous week…

“But if gold hadn’t been taken down hard last week, the lousy jobs number would have sent the price of gold to at least $1,200. This would have attracted even more attention from investors. Regardless, I am very encouraged by the recent action in the silver market. It’s very healthy for silver to be leading the metals higher.

For people who follow the market as closely as I do, last week’s rally in gold as well as the one in the previous week were both capped at 2 percent gains. So anybody who can’t see the manipulation in the metals markets has their eyes shut.

King World News - The Most Dangerous Bubble In History And Why The Central Banks Are In A Panic

The Big Manipulation

But this is all part of the bigger undertaking by the authorities in order to keep stocks and bonds elevated in their ever expanding bubbles. These assets form the collateral in a disastrously over-leveraged financial system. And a significant decline in both would obviously jeopardize the highly-levered global banking system, whose balance sheets are polluted with bad loans and mispriced derivatives.

But coming back to the jobs number, it just confirmed what is really happening in the United States, rather than the bogus numbers that the government churns out. Now looking inside the number, which I think is chronically overstated to begin with, manufacturing jobs were being lost, while jobs for waiters, et al., proliferated. So this is not exactly a wealth creating situation.

94.5 Million Americans Jobless & World Economy In Deep Trouble