Today a man who has been involved in the financial markets for 50 years spoke with King World News about the gold and silver takedown this week, and why the banking system will collapse. John Embry, who is business partners with billionaire Eric Sprott, also included a discussion about an article in the Globe and Mail this week.
Embry: “As you know, there has been a vicious takedown in gold this week.
At 90 years old and still going strong, the Godfather of newsletter writers, Richard Russell, warned about the continued lies emanating from the U.S. government as we enter a historic inflection point where “all hell will break loose.” The 60-year market veteran also discussed Putin, China, Ukraine, gold, markets, and war.
Russell: “In the Ukraine, ex-KGB operator Putin is playing his game of “who will blink first.” My inner voice tells me that there will be no war in the Ukraine.
On 18th August, stocks were well off their highs and headlines were riddled with concerns about Europe and the Ukraine. We bought March 2015 calls on the S&P 500 ETF SPY, with a strike price of $215 for $0.83.
Just 7 days later the stock market had soared to new highs and we sold the calls at $1.24, banking a profit of 49.40%!
Through careful timing and analysis of both the fundamental and technical factors at play, we were able identify what we believed was a prime trading opportunity where the risk reward dynamics were strongly in our favour.
In our update sent to the subscribers of SK OptionTrader that week we said;
Today one of the wealthiest people in the financial world told King World News that demand for gold coming out of Asia is extremely robust. Rick Rule, who is business partners with Eric Sprott, also discussed why he is so incredibly bullish on gold and silver.
“The Matterhorn London Interviews – Aug 2014: Ambrose Evans-Pritchard”
“Ironically, America has never been as powerful financially as it is now”
In this first of a series of London interviews that Lars Schall conducted for Matterhorn Asset Management this summer, Lars met up with Ambrose Evan-Pritchard to discuss geo-politcal tensions in the world, China’s challenges, threats to the global economy and the expectations for gold.
Just a month ago, Germany's powerful business lobby threw its weight behind tougher sanctions against Russia (dropping its previous objections). It appears they are now regretting that decision. As The Federation of German Industry (BDI) reports today, exports to Russia in H1 2014 dropped 15.5% from 2013 and "may drop by as much as 25% - posing a risk to 50,000 German jobs." We are sure, as Zee Germans look across the pond at the S&P 500 hitting record highs, BDI's conviction that Russia's action must face significant consequences may just fall apart again.
In the not-too-distant-past, Fed watchers had to divine U.S. central bank strategy from a trickle of information.
No longer. And on Friday, there will be a firehose of Fed speakers for the markets to digest.
Those familiar with this column are well aware of how very much it venerates what’s known as “Austrian” economic thinking, or the Austrian School. Books by Ludwig von Mises are always nearby, and then for one to Google “John Tamny” and “Ludwig von Mises” is to see how frequently he’s referenced, or directly quoted. Without presuming to define what is or who is “Austrian” from an economic perspective, von Mises’s thinking has been hugely influential.
Though Rick was up in Toronto this week for board meetings,
we connected for a quick call on investment strategy.
Are you still keepingthe powder dry for private placements?
Yes, I am. You can make good money in after-market securities, but extraordinary money is made by funding exploration success in private placements where you also obtain warrants. Although we believe a rising tide will float all ships, we are particularly attracted to private placement propositions that add a warrant into the investment mix.
Do you think that the companies are going to come around to our terms?