Interview with John Embry

Featuring John Embry

With a generation of investors only having an appreciation of markets during times of financial asset inflation and the rhetoric from the world’s central banks getting harder to believe by the day, John Embry, Senior Advisor at Sprott Inc., is concerned we are near an inflexion point where the ultimate outcome is getting worse, so it’s time to seriously reassess the optimum level of precious metals in your portfolio.
In this hard hitting interview for Real Vision, Embry’s assertion that hard assets look better with the dollar vulnerable and the collapse in the velocity of money, might be uncomfortable viewing for some traditional investors and as he advocates a complete change in approach, he has some ideas for you that are well worth considering.

Published on
15 August, 2016
Topic
Gold, History, Monetary policy
Duration
39 minutes
Asset class
Commodities, Currencies
Rating
30

Comments

  • TS

    Tara S.

    28 7 2017 17:05

    0       0

    I know this comment thread is long dead, but as I was watching this I thought of Thomas Gray

    Yet ah! why should they know their fate?
    Since sorrow never comes too late,
    And happiness too swiftly flies.
    Thought would destroy their paradise.
    No more; where ignorance is bliss,
    'Tis folly to be wise.

  • BC

    Ben C.

    24 8 2016 06:25

    1       0

    +1 Dustin S. I'm convinced by the argument for gold, but would love to see a deep dive to explore other hard asset investment options.

  • CL

    Chewy L.

    22 8 2016 12:20

    0       1

    Would be nice to know if long term holders of gold or miners have reached break even cost basis since the bear market. I highly doubt everyone bought at the lows in mid January.

  • WM

    William M.

    21 8 2016 16:08

    7       0

    I have sympathy with the RVT viewers who feel we are straying into too much talk on gold. Trouble is most RVT viewers are probably here because they are astounded by the goings on in the financial world and they feel RV gives us more of the facts and truth than other public sources. Those of us who are very worried about todays financial world are desperately looking for ways to protect our wealth, hence the interest in gold. I would encourage RV to bring us folks who can offer us choices and advice on how to protect our wealth and how we can maybe get some small positive yield. This has to include precious metals and miners.

  • JB

    Jenny B.

    17 8 2016 22:26

    0       0

    Loved his awareness of housing in Canada as well as the depth of his knowledge.

  • DS

    Dustin S.

    17 8 2016 08:25

    13       1

    I personally agree with a number of the comments posted on here. There is a significant focus on gold as a hard asset or an alternative to fiat currency. The one problem I have with the "buy gold" argument is that it presupposes it will behave as it has in the past; people will continue to view it as precious.

    Given the uncertain outcomes that are being discussed on this website, one needs to consider the possibility that gold may NOT act as a buffer to hyperinflation, deflation, etc. As such, I think an interesting segment would be to discuss the topic of alternate places to put one's wealth, including but not limited to gold. Sprott mentions hard assets; these should be explored in their entirety in my view.

  • B

    Bojo .

    16 8 2016 18:20

    1       0

    John is one of the very best, he exudes integrity and common sense. ''Cognitive dissonance'' pretty much sums it up. People really want to believe that there is somebody behind the curtain, who knows what he is doing.. like a parent that will save them or something.

  • TS

    Thomas S.

    16 8 2016 09:16

    3       8

    I agree with ROBINHO, too much gold coverage in proportion to its importance in the world economy. Credit and energy makes the world go around, lets have more interviews on credit and global energy.

  • CP

    Christopher P.

    16 8 2016 08:28

    3       0

    Bill M - not at these prices. At higher levels, absolutely. There is more than enough gold to go around. It's merely a question of price!

  • NS

    Nathan S.

    16 8 2016 08:25

    1       1

    Sean - recommend researching First Mining Finance. Similar investment thesis to what you described.

  • CH

    Calvin H.

    16 8 2016 03:16

    0       0

    I agree with the comment on the OI. This was the best 'nugget' of info in the interview AND it helps explain why we have reached Base Camp 2.

  • BM

    Bill M.

    16 8 2016 00:54

    2       0

    With only a few Olympic size swimming pool's full of gold available, is there really enough physical gold, for everyone to buy their 25% ?

  • BG

    Bruno G.

    15 8 2016 21:43

    0       0

    Sean I just had my own personal ground hog day or a seizure.

  • S

    Sean .

    15 8 2016 20:43

    4       0

    @JonathanF good question re: Gold vs. Gold Miners. Worst case scenario, buy a gold miner, fire everyone and shut down production. The land and recognised gold in the ground would be worth more than the miner (as you excl. cost of production). Then you can sell parcels of the land at inflated prices because it is a proxy for the gold under the ground.

  • PV

    Peter V.

    15 8 2016 20:02

    5       0

    The gold and real asset topic is an important one. Even more so these days as it is not covered well in the financial press.
    I support the Frank C. idea of having a contributor talk us through the Comex open interest debate. Considering the current O.I. levels on the exchange, the sooner this could be done the better (it may not require a camera crew, just a phone interview).
    Please keep up the good work all.

  • db

    don b.

    15 8 2016 19:55

    3       0

    Great interview Grant, John thank you so much.

  • MV

    Matt V.

    15 8 2016 18:02

    10       0

    This is the best interview with Embry I have seen, but similar to John Williams (Shadow stats), there's been a call for Hyper-Inflation for years. They both hold on to their premise , and have never been able to re-examine if they are wrong in the short/medium term, and admit it. As one theologian said, "I know I've got 80 % right, I just don't know what 80%."

  • KA

    Kevin A.

    15 8 2016 16:41

    3       3

    Does this mean it is time to sell gold, silver, and PM miners, then?

  • rH

    robinho H.

    15 8 2016 16:40

    4       28

    How many more gold bugs will be interviewed? Can we pls change subject?!

  • rH

    robinho H.

    15 8 2016 16:39

    8       48

    How many more gold bugs will be interviewed? Can we pls change subject?!

  • CD

    Chris D.

    15 8 2016 16:13

    1       0

    So - in essence - pick up some Saint Gaudens then. Low premium, but nice numismatic value (and story)

  • ag

    anthony g.

    15 8 2016 15:48

    6       0

    so where do I put my cash ? what country has banks with limited problems right now ? If I hold gold and or silver, how do I hold it ? In my basement or are shares of miners ok to hold in a regular account with a Merrill Lynch for example ? etc.

  • fc

    frank c.

    15 8 2016 15:40

    15       0

    I badly need you to get a panel of lets say a Ted Butler and somebody that we know is on the "commercials" side of the futures market to have debate on the OI situation. These are critical times, if the commercials break here, it will be epic.
    And it would be interesting to know once and for all what drives the commercials.....as they set the price.

  • MK

    Mark K.

    15 8 2016 15:39

    4       0

    Thanks for a great interview. John's perspective with 50 years experience in the capital markets is invaluable!

  • FC

    FRED C.

    15 8 2016 15:35

    6       2

    some good insights but essentially i felt he was talking his book. repeated a lot of things we already know and why physical will outperform miners on the way up counter to history both up and down.......
    the dollar decline blew me away...as to me all currencies are relative and yes the dollar had it issues and many of them...but look around one of the few safe places that has a positive interest rate....so to me the dollar down thesis was talking up his hard assets of which i own the miners and some phys...his product....definitely phys vs gld......imo

  • RM

    Robert M.

    15 8 2016 15:24

    1       0

    Tour de Force = an impressive performance or achievement that has been accomplished or managed with great skill.
    Crescendo = a gradual increase in loudness in a piece of music.

  • JF

    Jonathan F.

    15 8 2016 14:58

    15       0

    Speaking of miners. Let's assume gold is suddenly going to be very hard to get. Dollar-denominated miner stocks will presumably go way up in value at that very moment. Yet they are denominated in dollars, not gold. If hyperinflation sets in, miners' costs go way up. At what point is it better to own gold than miners?

  • JF

    Jonathan F.

    15 8 2016 14:32

    8       0

    Grant, this is anecdotal, but my conversations with Uber drivers and physical education teachers and landscapers and chiropractors who immediately say "GDXJ" when I bring up gold suggest that the word is out. And this goes back to Jan/Feb. I was surprised how many people were already onto the RVTV gold theme.

  • CC

    Christopher C.

    15 8 2016 13:38

    2       0

    Tour de Force of the pro-hard asset (anti-fiat) crowd lately. Crescendo before the..... ???