Avatar of rosso

Eric Sprott predicts, “The price of gold goes north of $2,000, and silver will quickly go over $50 When central banks Have to Admit the Gold’s Not There

3 rating, 3 votes3 rating, 3 votes (+3 rating, 3 votes, rated)
You need to be a registered member to rate this post.
Loading ... Loading ...

December 22, 2013 in Economics

by

What Happens When You Have to Admit the Gold’s Not There-Eric Sprott

 

interview from USAWatchdog.com

15

Money manager Eric Sprott says the economy is going to tank in 2014.  Sprott, who has $8 billion under management, contends, “We have created a situation, yet again, where we pulled demand forward and added debt to everyone’s balance sheet.”  Another drag is going to be health care costs and rising interest rates.

According to Sprott, “I am sitting here looking at Obama Care and rising interest rates and thinking where are we going to be getting all of this growth that is non-existent.  So, I don’t see a strong recovery.” 

As far as gold is concerned, Sprott charges central banks have little gold left, saying, “The gold’s not there, and ultimately . . . somebody will fail to deliver here. . . . What happens to the bond markets and stock markets when you have to admit that it’s been a fraud the whole time?” 

  Sprott says that the price of gold and silver will both hit new highs in 2014.  Sprott predicts, “The price of gold goes north of $2,000, and silver will quickly go over $50, and when it does, it will get a little crazy.” 

 Sprott says, “They know a day of reckoning is coming, and they are setting up for it. . . . I am convinced some sovereign banking systems fail in 2014.”  

interview with  CEO of Sprott Asset Management, Eric Sprott.

Related articles


Infowars.com Videos:

Comment on this article:

9 responses to Eric Sprott predicts, “The price of gold goes north of $2,000, and silver will quickly go over $50 When central banks Have to Admit the Gold’s Not There

  1. Yeah I saw that in the Max Keiser link you posted below….

    “Sprott Inc.’s assets have fallen to US$7 billion from US$10 billion, almost entirely due to losses on gold and redemptions. Despite pushing Sprott aside, the firm will continue to focus on gold, but with a new emphasis on risk management, Grosskopf said.

    Still, it’s been a startling fall for the industry stalwart: Sprott posted his best return in 2010—41.2%—just before his luck turned. Despite the losses over the past three years, the flagship maintains a 5.8% annualized return since inception.”

    It’s pretty discouraging as a KWN regular!

Leave a reply

You must be logged in to post a comment.