Worth the read. Deno

John Embry: Central banks face Custer's Last Stand with gold

Submitted by cpowell on Sat, 2008-04-12 01:36. Section: Daily Dispatches

9:30p ET Friday, April 11, 2008

Dear Friend of GATA and Gold:

Sprott Asset Management chief investment strategist John Embry, keynote speaker at next week's GATA conference in Washington, writes in new commentary for Investor's Digest of Canada that the credit-creation mechanism of the central banks seems to have broken. But, Embry says, the central banks likely will wage Custer's Last Stand against gold at $1,000 per ounce. Embry expects a result for the central banks similar to what happened to General Custer along the Little Big Horn, and GATA will be working on that next week. You can find Embry's commentary, "Credit-Creation Mechanism Appears to be Broken," at the Sprott site here:

http://www.sprott.com/pdf/investorsd...

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.