As we have been stating here, Embry also believes that silver and gold are set up for a major launch once this options expiry period is behind us.
The cartel has only confirmed these beliefs this week by their almost incessant attacks on gold and silver.
Clearly, $1600 and $40 are VITAL pivot points in gold and silver.
“I think it will be really exciting when it (silver) clears $50 because then it will be in absolutely new ground. There is without question major physical shortages of physical silver and demand is robust. Once it (silver) gets rolling it is going to levels that people cannot imagine.”
“I think that there will be an agreement or if there isn’t there will be a short extension, then there will be an agreement. The problem isn’t the agreement itself, it’s the fact that it doesn’t solve anything. I suspect they are going to have a lift in the debt limit of $2.5 trillion and there will be some amount of $3 to $4 trillion of spending cuts, probably minimal if any tax increases.
“I would have thought that they would have moved heaven and earth to try to have the gold price comfortably under $1,600 with a lot of open calls and what have you. The fact that they haven’t been able to do it attests to the inherent strength of the market.
So on that basis it is very probable that we could have some significant upside action once we get though this window (options expiry).
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