One-on-One with Eric Sprott

By Greg Hunter’s USAWatchdog.com 

Eric Sprott of Sprott Asset Management is one of the best performing money managers with returns topping 20% for more than a decade.  He has $10 billion under management, and it’s no secret Mr. Sprott is a long term bull on physical gold and silver.  It looks like other big money men like “Bond King” Bill Gross are also thinking about going long on the yellow metal.   Sprott points out, “When the Bond King goes to some sort of physical asset, I think you can see some kind of sea change.”  So, why aren’t gold and silver prices higher?  He says, “I can make a compelling case the price has been suppressed.”  If it wasn’t, Sprott says, “Gold would be $2,500, and if the ratio was 15 to 1, the price of silver would be $150 an ounce.”  The suppression game cannot go on forever.    Mr. Sprott also says, “The economy is already taking a cliff dive and that is before we hit the cliff. . . . It’s hard to imagine anyone being optimistic going forward here.”  If there is war in the Middle East, Sprott says, “Oil would go crazy, gold would go crazy, anything physically real would be in demand.”  Greg Hunter goes One-on-One with Eric Sprott.

Comments
  1. Johan

    Great intreview…I always appreciate coming to your site!

    • Greg

      Thank you Johan and Jaque.
      Greg

  2. Jacque

    Brilliant interview!!
    Keep ‘em coming :)

  3. RUSS SMITH

    Hi!, Patrons Of USAWatchdog.com Et Al:

    Thank you Greg for having Mr. Sprott provide us his answers to so many great & timely questions regarding the times in which we are living today. If Mr. Buffett every wakes up and joins Mr. Sprott from his present sleepwalking consciousness towards gold and the Chinese continue pecking away at world supplies of gold plus India’s wedding season soon to concentrate on gold converge into this very tight supply market, very significant emphasis will have been added to the trend towards another gold & silver mania market. I really appreciated how analytical Mr. Sprott’s answers were to your questions. We need him in our Treasury Department on Capitol Hill don’t we? His words will stick with me through thick and thin, as we move forward into our future economic malaise. Thanks to both of you for an outstanding informational program designed to help the rest of grip where we are in our present economic cycle.

    RUSS SMITH, CALIFORNIA
    resmith@wcisp.com

    • Greg

      Thank you Russ and Mitch for the comments and support.
      Greg

  4. Mitch Bupp

    WOW, this was very enlightening Greg, I was surprised by what Eric Sprott had to say about the sales and production gold and silver.

    I understand what Eric is saying but the only way not to see the suppression of precious metals is your not looking. I see this also a failure of the 50 states attorney generals (yet again) to do their jobs and enforce the rule of law in the banking industries.

    Is there any markets that have not been rigged would be the first question that comes to my mind since Wall Street and the banksters have so corrupted the systems that have been designed to keep fraud…..

    Thank you Greg, I love this format of interviewing well known financial industry leaders who have no political axe to grind when they talk about the economy and markets.

    I keep explaining to people that it will not matter who gets elected in November because you can’t fight the math. The powers to be can talk all the smack they want and they can add digits of ponzi money to the pile but the math remains the same…… a miscalculation of epic proportions? I say… just plain old fraud!

    I will post this http://www.AboveTopSecret.com in their Global Meltdown forum….

  5. art barnes

    Greg, the big shots are figuring out five thousand years of gold having value in history may count after all. Fiat paper money or gold, now that’s a no-brainer.

    On another note, what was is the “cliff” which we are going to hit next January that Sprott alluded to near the end of the interview? Maybe you can call him and get that answered. I assume it was a tanking of the economy but not sure exactly what he meant and why January?

    • Greg

      Amen to that Art.
      I think it is very telling that Sprott’s contemporaries are looking at a gold or silver position.
      Greg

    • DRS

      I believe it’s the expiration of the Bush tax cuts. If that happens, look for QE3 to paper over it. QE3 will most likely be commenced before January, 2013. Why? So Bernanke’s bankster buddies can front-run the trade, of course! Sure, we can all profit from it, but only Banksters can make an infinite profit.

  6. AndyB

    Greg: I love the fact that you are getting more and more significant truth-tellers on your program to counter all the disinformation/propaganda/psyops of the MSM and their sycophants. Even though Sprott is talking his book, no one can legitimately argue against his points, which have become increasingly relevant just in the last few months.

    • Greg

      Thank you Andy. I agree with you on Mr. Sprott. He makes a good case for his $10 billion book.
      Greg

  7. JILL

    Great interview. Leased gold??? The next financial weapon of mass destruction. I can’t help but wonder how much of Fort Knox is leased? Even an audit would not show that if it consists of just a physical inventory.

    • Greg

      Good point Jill! Thank you for making it here.
      Greg

    • DRS

      It’s only leased if it’s still there. Charles DeGualle got his country’s gold out, when the getting was good, from what I understand.

  8. J

    With an audit of the Fed should come an audit of our gold in
    Fort Knox, etc.

  9. Kansas Crude

    Hey Mr. Hunter, Wanted to take some time to thank you for your ongoing vigilance in getting the truth out there. I have been an investor in Mr. Sprotts PHYS gold fund since its inception. Nice to see him on your site great job of questioning him.

    All the best

    • Greg

      Kansas Crude,
      Thank you for making your first comment. May you make many more. Yes, Mr. Sprott was very kind to grant the interview. He has an excellent track record for making calls and investing.
      Greg

  10. Buddy

    Indeed, anyone with Eric Sprott’s background evidently has the picture. My guess is that he’s correct regarding silver and seems that $150/o silver in a year or so is very believeable. Should we be shocked that precious metals are being manipulated?

    P.S. I like your picture on the interview screen better than your fancy picture on your site. The former picture is more believable.

    • Greg

      Thank you Buddy.
      Greg

  11. Nigel Beale

    Virtually all of my retirement savings are held in one of Sprott’s mutual funds. Over the past year it’s value has gone down by some 40%

    I find it disconcerting that the only explanation put forward to account for this precipitous drop in value is that there is some sort of central bank conspiracy going on. And, if gold is now behaving in a way it never has in the past…going down in times of crises – illogically – how can we be so sure that it will in future do what it’s bloody well supposed to do?

    • DRS

      Gold and all ‘Hard Currency’ goes down as the Fed does nothing, just as a hot air balloon would if the pilot doesn’t run the burner. You couple this with out right Manipulation to the downside by the Fed’s Puppet-Masters at JPM HSBC, etc. and you get out-sized declines. Yet, Gold is 6x’s what it was 13 years ago! Keep it all in the Long Term Perspective.
      If the Fed were abolished (where’s Andrew Jackson when you need him?), then the dollar would soar, gold and Sprott would look foolish. He’s betting with the odds and not against them.

    • GF

      I totally agree Nigel and am in the same boat as you. Sprott has performed brilliantly at times, particularly during and right after the last financial crisis. But ALL the gains of the last FIVE years in the Sprott funds I have invested in are now wiped out. He has lost over 25% just in the last nine months alone. It takes a very strong stomach and a lot of faith (or just stubborn stupidity) to stick with Eric Sprott these days. And as his explanations involve conspiracy theories more and more often, it gets even harder.

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