Dollar Decline, Inflation, Debt, QE Could Send Gold, Silver Soaring

The budget should be balanced, the treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome will become bankrupt. People must again learn to work instead of living on public assistance.

- Cicero , 55 BC

In a recent interview, John Embry, Chief Investment Strategist at Sprott Asset Management, argued that gold and silver are poised for a major move up as the US dollar declines, debt increases, governments print more money, and interest rates rise.

For the first time the US dollar fell below 80, another sign of the decline of the US dollar as the world's reserve currency. Embry said that the role of the US dollar as the world's reserve currency is "The most important thing currently in the outlook for gold." He predicted that the "US government will move heaven and earth to try to keep the US dollar from losing its reserve currency status," but "I don't think they will be successful." He argues, and I agree, that China is already planning to usurp the American role as the world's reserve currency. Embry said, "When it becomes more evident…the impact on silver and gold is going to be extremely good."

From John Embry's lips to His ears!