John Embry: We’re On The Edge of Collapse, We’ve Run Out of Time!

• Embry: We’re On The Edge of Collapse, We’ve Run Out of Time! 
  by www.kingworldnews.com
  Today John Embry told King World News, when referring to what is needed to bail out Europe, “All I know is that these numbers are staggering … We are on the edge of collapse.  We’ve run out of time.”  Embry, who is Chief Investment Strategist of the $10 billion strong Sprott Asset Management, also told KWN that if the euro does split apart, it “will be extraordinarily chaotic.”  Here is what Embry had to say about the crisis:  “We’ve got to focus on what’s coming up in the short-run with regards to the European situation.  It’s going to be an extremely interesting summit they are hosting this Thursday and Friday.  The problems are piling up at such an enormous rate they can’t be ignored anymore.”
  ….
  “We are on the edge of collapse, it’s imminent.  We’ve run out of time.  If they don’t take action, continue to play this brinksmanship, and this thing gets away on the downside, when you get a hard deflation going, it’s really difficult to reverse.
  ….
  I don‘t think you can say anything with total assurance, for the simple reason that we have never, ever been remotely in a condition like this in all of world history.  So the only things that I am comfortable in at this moment are physical gold and silver and gold and silver shares.”
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