John Embry seems to think so       .“The violent takedown in gold and silver in April is still reverberating around the markets.  Underneath today’s smash in the metals, physical demand is asserting itself and I think we have a limited shelf life for the paper control of this market.
 

 

I firmly believe that in the end the paper gold market will be seen as one of the greatest Ponzi schemes of any era, and it will end very badly for anyone on the wrong side of the trade.  But I’m more focused on the fact that downside in gold and silver is extremely limited and the upside is staggering....