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“Either you take the debt clean-out right away, and that means a very hard
deflationary depression, or you do what I suspect they will try to do and that is keep pumping money into the system to keep the whole banking (system), derivatives and economies afloat [and] that will lead to some sort of monetary distress that could end in hyperinflation. I think that’s the worst outcome, but there is no good outcome.”
So says John Embry in edited excerpts from his interview with Eric King of King World News as brought to you by Lorimer Wilson, editor of www.munKNEE.com (Your Key to Making Money!). This article must be included in any article reposting to avoid copyright infringement.
Embry goes on to say (you can hear the interview in its entirety by clinking here), in part:
“When global financial crisis II hits in 2-3 years, I think it could be more unpleasant than the first one. That’s one of the reasons I’m very enthusiastic about gold and silver because they are the true safe havens. Somehow that truth has been obscured quite well by all of these paper raids on both of them but I think that will be overcome in global financial crisis II.”
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