Tuesday, 29 January 2013

John Embry - I Have No Problem with Silver Priced in the Hundreds and Hundreds

“It’s wild. One of the days late last week the number of outstanding silver contracts went up over 4,000 contracts. That’s a huge number, and it’s challenging the highs from when the silver price was $3 or $4 higher a month or two ago.

So the fact that there is no liquidation to speak of, somebody is standing in and taking on the powers that be because I think they realize what a strong hand they have (against the manipulators). The silver market is grotesquely undervalued and there are mounting shortages that are being documented all over the place.

I just see a supply/demand picture which is amazingly bullish, and when you superimpose that on existing short positions and the fact that the silver price has been held back so much, when this gets loose and runs I think people will be shocked at how fast it goes and how far it ultimately goes. I will reiterate, I have no problem with silver (priced) in the hundreds and hundreds of dollars.”

- John Embry via a recent King World News interview, read the full interview here: