Embry and Turk bullish, Moriarty bearish on silver


8:42p ET Wednesday, April 2o, 2011

Dear Friend of GATA and Gold (and Silver):

The "perfect storm" is under way for silver, Sprott Asset Management Chief Investment Strategist John Embry tells King World News today, starting with J.P. Morgan Chase's uncoverable short position, combining with strong industrial demand and continuing monetary debasement. An excerpt from the interview can be found at the King World News blog here:


Or try this abbreviated link:


Meanwhile, in another interview with King World News, GoldMoney's James Turk notes that Greece's financial situation is collapsing again and the dollar is not getting the support it got when this happened two years ago. Turk construes this as evidence that a "waterfall" decline in the dollar itself is imminent, with explosive consequences for the monetary metals. An excerpt from that interview can be found at the King World News blog here:


Or try this abbreviated link:


A contrary view can be found at 321Gold, where Bob Moriarty predicts an imminent crash in silver. "I might be off by a couple of days in silver and maybe a couple of bucks," Moriarty writes, but "the next major move in silver is down." Or that's what he predicted on March 25, with the silver price at about $37.50. Four weeks later the silver price is almost $8 higher, a 21 percent gain. But then maybe that's not a "major move." Moriarty's commentary is headlined "Is Silver Topping?" and you can find it at 321Gold here:


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


Prophecy Resource Spins Off Platinum/Palladium Venture:
World-Class PGM Deposit in Yukon

Company Press Release, January 18, 2011

VANCOUVER, British Columbia -- Prophecy Resource Corp. (TSX-V:PCY)and Pacific Coast Nickel Corp. announce that they have agreed that PCNC will acquire Prophecy's Nickel PGM projects by issuing common shares to Prophecy.

PCNC will acquire the Wellgreen PGM Ni-Cu and Lynn Lake nickel projects in the Yukon Territory and Manitoba respectively by issuing up to 550 million common shares of PCNC to Prophecy. PCNC has 55.7 million shares outstanding.

Following the transaction:

-- Prophecy will own approximately 90 percent of PCNC.

-- PCNC will consolidate its share capital on a 10 old for one new basis.

-- Prophecy will change its name to Prophecy Coal Corp. and PCNC will be renamed Prophecy Platinum Corp.

-- Prophecy intends to distribute half of its PCNC shares to shareholders pro-rata in accordance with their holdings.

Based on the closing price of the common shares of PCNC on January 17, $0.195 per share, the gross value of the transaction is $107,250,000.

For the complete announcement, please visit:


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The Gold Standard Now: It Can Work

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