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

By Greg Hunter’s USAWatchdog.com 15   (Early Sunday Release)

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.”  Join Greg Hunter as he goes One-on-One with the CEO of Sprott Asset Management, Eric Sprott.

Comments
  1. Ugly

    The papers today are all rosy about the economy saying we grew 4.1%. I am going to skip gold, but will look for silver. I can see silver being in high demand in the anti-biotic industry alone for naturalists and those that cannot afford healthcare. Gold? I just don’t see where my few ounces of gold will compete on a world’s market where mostly the rich have gold. Silver is more evenly distributed to the ‘common’ guy. Just my thoughts–I am probably wrong (I usually am)….

    • Rich

      @Ugly

      I happen to think that you are spot on with your assumptions regarding silver.

      • Wm. Matthew

        You are not wrong in your reasoning about silver vs. gold. Your reasoning on silver is supported by the fact of its scarcity. It will be the first metal on the periodic table to become extinct in 2020. Also, there are over 30,000+ industrial uses for silver, unlike gold. What kind of arbitrary price cap will they be able to place on silver when it becomes extinct?

        • Galaxy 500

          If silver is extinct ( doesn’t exist) then why would you have a price. If there isn’t any, why bother with the exercise. Silver has many uses in industry but it is not irreplaceable.

      • Nigel Maund

        Silver is far from scarce. I am an Economic Geologist with 42 years in the Industry. The bulk of the world’s silver comes from the mining of base metals especially, the Polish Kupferschiefer deposits and lead – zinc giant systems in Australia like Mount Isa, MacArthur River, Cannington and the like and umpteen smaller base metal systems throughout the world. There is quite literally no chance silver will run out. However, increased demand caused by speculative spikes can occur because the supply side of silver is inflexible owing to the relatively small output of silver main product mines in the USA and Mexico for example.

        • lastmanstanding

          Nigel. You may be right for the moment. Maybe. You economists never include the fact that without massive quantities of oil, you can’t get massive quantities of pm’s.
          Massive quantities of oil are falling daily.

          BTW, where is your data for all of the silver stores? I think you need to go over to Steve St. Angelo’s site the srsroccoreport and get a dose of reality. Perhaps Greg could get him on here at USAwatchdog.

          I respect geology highly. It is a study of the earth and its makeup. Geology and economics together seem like a clash of reality and ones opinion. No offense, but does the corp that you work for have a need to explain/justify the geological economics of the product that it sells?

          Without oil, there is no silver…without oil and silver, there is no technology. Oil, silver and technology have all been abused. Soon, only those who have respect for all of these will have a chance.

          That is how the planet works. Things of real value and those who provide a real value to humanity and the earth always return to their rightful place.

        • Galaxy 500

          Economic Geologist. That’s a new one to me. Pseudo science mixed with science. Silver is a byproduct of mining for other metals. A large percentage of silver production from the US was taken out of production due to mine collapse. It will be offline for years. I would love for you post the facts/data that you base your thesis on.

    • Galaxy 500

      Colloidal silver is great right up until you get heavy metal poisoning. However, to have microsilver filter components to your survival water filter system is a good idea, so is copper. Both have antibacterial properties

    • Smaulgld

      Central banks may manipulate silver but they don’t hold it.
      Google 12 ways silver is different than gold

  2. Rodster

    When you listen to al these experts make their calls, you can’t help but think we are all just one day closer to financial armaggedon. If it were not for some of the most devious and corrupt individuals running our govt and financial system, we would have been there already. Whenever it happens it’s going to be ugly.

    Just look at what’s now happening in Thailand, Italy. The people over there are protesting economic conditions. It’s spreading everywhere and it will happen here as well in due time. The govt is preparing for that day as well. Too bad we have to talk about stuff like this during this time of year.

    – Merry Christmas to all !

    • Rodster

      Thanks Greg, I noticed you asked my question, although he kind of brushed it aside. 🙁

      Here’s another one for ( Dr. Roberts, David Stockman, Celente, Jim Willie, Greg Mannarino, Peter Schiff): Now that we are finding out that China has it’s own secret shadow banking system and has been pumping over 15 trillion of liquidity into their banking system in the same span as The Fed. Can the entire global financial system survive all these bubbles being created by the major global economies when the meltdown begins?

      • Greg Hunter

        Rodster,
        Good question. Thank you for posting it here along with some sharp facts.
        Greg

      • mohammad

        Rodster,

        How will they impose digital currency if they do not collapse the whole currencies of the world?

        How will they impose a world government if they do not remove all the sovereignties in the whole world?

        We need to be a head of the curve with our thinking, forget about china there will be no more china, you will find the China’s Spring coming there soon, forget about russia there will be no more russia, so forth with US, Canada, Europe ……… Etc!
        Those damn springs are like the reaper harvesting sovereignties, souls and wealth, this is what is coming and they are so damn sure about it, it is in the open, stop it if you can, did any screams stop the arab spring before it broke? How about the coming Ukrain’s Spring? the seeds for the greek Spring are planted already, did the riots in England were precursor to the British Spring?

        Sorry for the long way of saying the map of the world will be anew soon!

        • Rodster

          Mohammad, you are already seeing “Springs” flaring up around the World. Look at most recently what’s happening in Kiev, Thailand and Italy. You can add Turkey, Greece, Spain, Portugal, Brazil, Italy.

          Gerald Celente recently said that the greatest fear the Chinese Gov’t has is “it’s 1.5 billion people”. That’s why they have no choice to keep it’s economy humming along or deal with an angry, unruly citizenry.

          IMO we are being led to a New World Order which is a World Centralized Govt and currency. It’s no coincidence that Samantha Power is now US Ambassador to the UN who is a Globalist and wants to cede US sovereignty to the UN. That is her desire.

        • Galaxy 500

          Mohammad,
          I think we will have an American Spring before the Chinese have one.

          • mohammad

            God forbid .

      • Rodster

        Something very nefarious is going on with China which is why we need to keep our antennas up.

        “China “Fixes” Liquidity Crisis By Banning Media Use Of Words “Cash Crunch”
        http://www.zerohedge.com/news/2013-12-22/china-fixes-liquidity-crisis-banning-media-use-words-cash-crunch

    • allen ols

      Jim Willie writes;
      the arab spring in egypt was due to rising food prices, as arabs spend 60% of income on food. Hitler, Mao, Pol Pot, stalin, etc, etc used food, ie starvation to control the people. See how hitler used starvation of austria, to get guns, then took austria without a shot.
      Food will be controlled by the Govmnt, and the population will turn in guns quickly for ration card,,,oops snap card. My Advice,

      Get Looooong term storage of food, place to grow, seeds, tent, learn to hunt, fish, etc.
      “Give a man a fish, he eats, teach the man to fish, he survives. Store food for a 2 yr buffer, locate outside cities for quick retreat, study gardening, seed harvesting, etc.

      Many in the city who are losing jobs, cant pay bills, moving to cars, tent cities, cant think even to fish, or look for apple trees, or grow tomatoes, they are so connected to the weekley pay check they cant invision sustainability, yet alone to buy silver. Think Jerimiah Johnson trying to live in the wilderness. Most cant envision heating rocks to warm a tent. when things go down, skills will be needed.

      alols fop usa wd

      • On The Beach

        allan ols, One of the guest’s mentioned once, (I wont give the name because I don’t know if I have it just right) the old outlaw proverb:

        Give man a gun, he can rob a bank. Give a man a bank he can rob the world!

        • alols

          Ha great stuff. al ols

        • Brewmaster

          Jim Willie is an arrogant bastard that criticizes anyone that does not agree with him. I wonder if he has found any humbleness now that he has been so wrong over the last 2 years.

          • Greg Hunter

            Brewmaster
            He’s made many correct calls and has a public page to back that up.
            Greg

      • Ugly

        The 3rd Seal from Rev 6:5 shows that a day’s wage will basically be a daily (bare) food necessity for survival, and no monies left over for anything else. Most won’t survive, but will starve. Many that live will have a hard time because almost all of their work will go for one meal. This verse when using the ‘scales’ shows not only inflation, but also food scarcity. The part where it says to save the ‘oil and wine’ may show that the ‘rich’ will be ok, but the rest will perish through war and famine. Thus, yes folks learn about storing food, gardening, and food from the wild.

        • alols

          ugly

          I hear ya! Stopped by old friend today to check on him, he surprised me, he had 2 yrs supply food, and more. wow
          some are listening alols

          • alols

            Btw OTB and ugly, Jim willie in one of his HT letters or interviews opined or wondered if food would be available for those with gold and silver to even buy it. As i said in earlier posts, David Wilkerson was spot on, foretelling famine, social breakdown, riots, rapes, cities burning, etc. I follow, God, and his name is Jesus Christ, not a profit, 🙂 or teacher, the beginning, or the word, came down from heaven, demoted to the seed of man.
            Before HE returnes, I and my family will eat, and we have lotsa skills.

            al ols fopusawd

        • Galaxy 500

          This has been happening one place or another since the beginning of time. Plenty of people are a starving now.

        • Geo. skrmetta

          The horseman with the scales is revealing unjust weights and measures to be an abomination to God. I.E. colorfull pieces of paper purporting to be money is the sorcery by which all the nations have been decieved.

      • Rodster

        Yes it was indeed !

        The so called Arab Spring was a revolt against rising food prices where the people could not afford to eat.

        But here’s another “little (Gregisim) nugget” that’s swept under the rug. When the Federal Reserve began it’s QE program back in 2009 it put inflationary pressure on global food prices. Some believe that The Fed’s QE program is what triggered the Arab Spring.

  3. George

    The majority of the public are completely clueless and have no clue about gold and silver, nor what they even stand for.
    They are convinced that pieces of worth paper are real money.

  4. Rich

    Awesome. Eric Sprott is soooooo awesome. I want to be just like him when I grow up 🙂

  5. John M.

    I have always admired Eric Sprott, I just wish I could be as calm and composed as he always appears to be. The blatant suppression of gold and silver absolutely pisses me off beyond polite words.
    We all should be angry as hell that our government with their whores, the big banks, are keeping this Ponzi scheme going at the expense of gold and silver. They used to only bad mouth these eternal metals, but they have definitely increased the heat on the fire to keep these prices artificially low. Gold and silver are not only morally and intellectually superior as a basis for money, but they are the most pure physical substances on earth. To deny that fact is insulting. That’s like denying Gravity when you are about to jump off of a mountain or like telling God to His face that He does not exist.
    These guys are clearly liars and deceivers but they are not stupid when it comes to understanding money, as they are devilishly amassing some secret gold of their own and they undoubtedly have cut a deal with China for even more gains. China is much smarter, and even to be somewhat respected, as they are playing for the long-term keeps for the Chinese nation and people, although I’m sure some Chinese officials are also receiving some personal graft. I think the gold price will explode when China knows their is no more physical gold to be had.
    And if gold is surely manipulated, than just imagine what a sham it must be in the real paper markets like bonds, stocks, currencies, etc. that depend totally on trusting in what the government says and is doing. You must get out of those markets.
    This all should not be shocking revelations as this has been going on for so many years. We just cannot give up on gold and silver just yet, especially as it seems that the system is finally starting to crack. This is not unlike the patience and faith that one must have when believing in God. I’m very sad, because I really believe these godless psychopaths are not afraid to destroy America in the process for what greater plans they have in store for us, and perhaps America deserves to be chastised for being so irresponsible when it was blessed with so much abundance and so many freedoms.

    • Liquid Motion

      I have no doubt that the FED is intentionally destroying America.
      This is all done in the name of Globalization. The TPP agreements are testament to the reach of this godless creature and its Minders.
      When the sheeple wake from their slumber it will be in horror, when the realisation as all that had passed them by, was in fact a mirage. There IS no revival. No jobs being created. More debt being added. Inflation in everything necessary for survival ….and importantly NO MORE GOLD. Finally we succumb and the once great nation, surrenders to its masters. Baron and beset with chaos and social disorder is what now befalls the USA.

    • On The Beach

      John M, I like the price of Silver and apparently China likes the price of gold, what r u complaining about, it’s on sale bud! Also the son of God said, when you see all this crap, lift your heads up, because the end of the age is near! He also said he wont be such a nice guy when he returns, because he’s got to clean house. Look at it this way, man’s proven what the founding fathers wrote into the constitution and Jehovah put in the Bible long ago, people need checks and balances because some people will always want to be king of the Hill. Were moving onto a new and better, heavenly, government (Kingdom), Jesus as King and big checker, where peace and righteousness will prevail. He said he will rule with an iron rod and that’s why I told Jerry we might all be seeing his dad again sooner than later, because this old world is proving it needs to be flushed down the crapper and the sooner the better.

      And except those days should be shortened, there should no flesh be saved:
      but for the elects sake, (USAWatchdog’s) those days shall be shortened.

      YES!

      -king James Bible “Authorized Version”, Cambridge Edition

      • On The Beach

        P. S . That scripture is Matthew 24: 22

  6. Jerry

    Thanks Greg for this really interesting interview with Eric Sprott. I totally agree with Mr. Sprott’s view about the markets being manipulated. It totally makes sense. If the demand for Gold is high, under normal market conditions, the value of the dollar should be lower right? One can only wonder, if the Chinese have signed onto this game of phony accounting in order to fill their vaults. This plays into my theory that the collapse is definitely a planned event.

    For years I have wondered why there is no sense of urgency by Congress to get the deficit spending under control, and when you look at the additional debt being added just this year ( 3.5 Trillion at least ), one would have to conclude that it doesn’t really matter. I’m banking (not literally) on the idea that when the reset happens, they are planning on all this debt going bye bye instead of trying to repay it. At least that’s what happens when your house is sold on the courthouse sets in a mortgage default.

    So what do we know for sure.
    1. The Chinese are buying tons of Gold while our government is buying bullets and assault vehicles.
    2. The 85 Billion a month that is being printed by the Federal Reserve , is going to the Central Banks and not the Federal Government.
    So where does that leave us? In my book the Grinch not only stole Christmas , he stole our entire economic system as well. Greg I hope you have a nice Christmas. Thanks for giving us the gift of knowledge. Ancient Chinese proverb.
    ” Knowledge of ignorance is strength, ignoring knowledge is sickness”.

    • Greg Hunter

      Jerry,
      I think this is in the running for the best quote of 2013: “Knowledge of ignorance is strength, ignoring knowledge is sickness.” Thank you for this and Merry Christmas.
      Greg

    • Liquid Motion

      You my friend have hit the nail on the head.
      Debt will be defaulted on. Not by the suggested avenue that most proponents agree.
      Outright default.
      Hmmmm…those apples are so sweet….!!!! Forbidden fruit direct from the Garden of Eden.

  7. allen ols

    Greg
    Gerald celente, commented dec 18 notwithstanding the govmnt getting more stupid, ie creative; he predicts March everything will begin to unravill. Actually I thought it was already unraveling.

    AlOls fopusawd

  8. Justin King

    WAITING FOR GOLDOT.

    • John Mackenzie

      New highs in 2014 “appear” may or may not arrive. It does appear that higher prices will be forthcoming – but after a significant washout. My longer term target (13 years and counting) is north of $4600, the minimum high.

      • Galaxy 500

        So John, you are saying the price is going down (washout) before it hits the highs?

  9. Arizona

    Heres the real danger,ALL the people with a few bucks,have their head up their behind,Gold and silver won’t matter what the price is,if the poor can’t afford to have it ,YOU’LL get war in america instead………….

    • mohammad

      Thomas Chittum had written about it in 1995 I guess, I read the whole book then and it was scary to say the least:

      http://www.resist.com/CWII.pdf

    • allen ols

      Arizona

      agreed!!!

    • frosty

      Above class war, civil war or world war, a Revolutionary war to remove and replace the corporate officers appointed by international bankers to direct the operations of the United States Inc., would serve best to restore America. With the support and participation, even if if only by half of those sworn to up-hold the Constitution for the United States, relatively little bloodshed would be required to reestablish the Republican form of government that is mandated by that original document.

      During the debates over the ratification of the U.S. constitution, one participant noted…
      “For the saddest epitaph which can be carved in the memory of a vanished liberty is that it was lost because its possessors failed to stretch forth a saving hand while yet there was time.” 2 Elliot’s Debates, 94 Bancroft, History of the Constitution, 267, 1788

      …This observation was as true and compelling then as it is again today.

  10. mohammad

    Greg,

    I posted it in a different thread and am following on it here, this is what MAY bust the paper gold, India will retaliate (they started it already with removing barricades) and their best answer may be removing restraints from importing gold that will bust that phony paper gold market:

    http://www.ydr.com/offbeat/ci_24748403/how-an-alleged-cavity-search-is-threatening-india

    “How India is reacting:

    The case has sparked widespread outrage in India and infuriated the New Delhi government, which revoked privileges for U.S. diplomats to protest the woman’s treatment. It has heightened tensions with India-U.S. relations, which have cooled in recent years.

    Police also removed the traffic barricades near the U.S. Embassy in New Delhi in retaliation. The barriers were a safety measure but India said they clogged up traffic.

    In New Delhi, the lower house of Parliament was temporarily adjourned Wednesday after lawmakers noisily demanded that it adopt a resolution against the United States.

    Prime Minister Manmohan Singh described Khobragade’s treatment as “deplorable.”

    The gold market will eye in 2014 India, this is a link to Kitco, even if they say they will not see significant change but THIS INCIDENT OF INSULTING THE DIPLOMAT WAS NOT FACTORED IN THE ARTICLE since it was on Dec 6, but the article indicates how important is the gold market of India in 2014:

    http://www.kitco.com/news/2013-12-06/Gold-Market-To-Eye-India-In-2014-For-Any-Changes-On-Import-Rules.html

    • Greg Hunter

      Mohammad,
      Nice analysis. I think you are making a very good point here and it could vault AU demand. India has more than a billion people.
      Greg

      • J.C. Davis

        Mohammad in simple terms will you explain why India has restrictions on importing gold? Seems to me they would want as much in there country as they could get. They now trade in gold as a part of the brics. Am I correct? India has a long standing teaching the more gold you own the more wealth you have.

        • mohammad

          Trade deficit is the short answer:

          http://www.zerohedge.com/news/2013-05-13/india-trade-deficit-deteriorates-gold-imports-soar-138

          “India Trade Deficit Deteriorates As Gold Imports Soar 138%”

          So they had to bring the deficit down by limiting gold import, TO NO AVAIL!

          • J.C. Davis

            Thanks Mohammad. That clears thing up for me. As the song said “( ya cant stop those things to come}

          • Galaxy 500

            Absolutely 100% correct. Funny how 100 years ago, this would have been calculated in troy ounces of gold and silver.
            JC, the Indians have just discovered silver.

      • mohammad

        Greg,

        This will be the story of 2014, India will bust the gold paper market, no freaking Indian government rules will control the public sans the deteriorated relations with US, in this link Greg they found most passengers to India from Dubai with 1 kg of gold on every one of them:

        http://libertyblitzkrieg.com/2013/12/23/the-times-of-india-almost-every-passenger-on-a-flight-from-dubai-to-calicut-was-found-carrying-1kg-of-gold/

        “almost every passenger on a flight from Dubai to Calicut was found carrying 1kg of gold.”

        This was today on Jim Sinclair;s website!

    • Galaxy 500

      Nice post Mohammad,
      Happy Eids,

      • mohammad

        Thanks Galaxy, Merry Christmas.

    • Galaxy 500

      Mohammad,
      US Marshals service is saying no cavity service. Indian is very upset she was arrested for fraud and slavery. Why should she be arrested here for what she does with impunity back home?

      • mohammad

        Galaxy,

        “I am from the government and I am here to help you”

        • Galaxy 500

          Mohammad,
          Has that ever been true since the beginning of time?
          🙂
          I think not

  11. John

    Hello Greg

    What would happen to people’s money that have investments in his Gold ETF if and when the dollar goes haywire, or there’s bailins, or etc., etc., etc..? Would people lose out because they don’t have the Gold in their hand. Your recent guest said if you don’t have it in your hand, you don’t own it.

    Thanks

    John

    • Greg Hunter

      John,
      You summed it up in one sentence: “. . . if you don’t have it in your hand, you don’t own it.” If you want real protection, you need gold and silver coins held under your direct control.
      Greg

      • John

        Are you saying that everybody that has their money in his gold ETF is going to lose their money and Mr Spout knows this?

        • Greg Hunter

          John,
          I am saying that when you have a gold ETF you will not end up with any real gold. On top of that, the Gold and silver ETF’s are seeing lot of liquidations and you may not have any gold backing up the shares you are buying. Best way to hold gold is in your hand.
          Greg

          • Nils

            This is of course not substantiated by any evidence. If you allege the gold in GLD and SLV is not there then prove it. Their auditing is better than that of Sprott’s funds.

            • Greg Hunter

              Nils,
              It’s been widely reported they have been draining physical metal out of these funds and out of the country to places like China and India.
              Greg

        • Galaxy 500

          If you read your prospectus, you will find:
          1) you have no right to.demand physical gold/ silver
          2) they may not have a lot of physical (they are buying paper gold)
          3) it’s rehypothcated /pledged as collateral to the moon

          And what about your broker? If your broker is like MF Global, will it matter if your ETF gained in value?

        • lastmanstanding

          John…The paper scams are another option for them to take your hard-earned savings via your labor and give it to them for their use. With the promise of giving you gold at a much later date.

          Hey…don’t worry about it…they will give you cash instead.
          Cash is easy for them to obtain.

  12. bob

    thanks greg, merry cristmas to you and your family. may god bless you

    • Greg Hunter

      Bob,
      Merry Christmas to you and yours!
      Greg

  13. Liquid Motion

    Greg,
    I have said it before and I say it again. I have a lot of respect for Eric Sprott.
    A tremendous interview with one of the stalwarts of the industry. Here is a man who is such a font of knowledge. He has a remarkable calmness whilst projecting such a sense of confidence. How can anyone not take notice of what he has to say.
    An interesting point came up during the interview involving the Indians and gold. Here is a black swan that Eric didn’t cover. What if the Indian Govt. did an about face on the gold agreement (it has with the FED/US Govt.) ? If India resumes imports of Gold what will that do to overall demand and PRICE. With an already unbalanced Supply/Demand equation, we could very well see both rocketing demand and PRICE. What would trigger the Indian Govt. to make such a bold move ? Hmmmmm….how about the insane treatment of one Indian Diplomat on US soil on December 12. Politicians and Officials are in serious damage control. It doesn’t get any better than this. In fact it probably gets a whole lot worse.
    Buffoons in charge of the country are causing serious irreparable international damage. Just like the reserve currency and UST via actions of the FED.
    Pass the air freshener. This is starting to stink up the room.

  14. mohammad

    Greg,

    You will get a kick out of this, just for fun!
    OBAMACARE IN ONE SENTENCE:

    https://www.youtube.com/watch?v=vdnY8r7_fLw

    • J.C. Davis

      Mohammad, What a clear picture. Thanks

    • Jerry

      Sometimes the truth is better than fiction . Thanks for sharing.

  15. Snorky

    FYI. Max Keiser is reporting that Sprott will step down next year due to his poor performance.

    Merry Christmas and Happy New Year.

    • mohammad

      Snorky,
      Eric sprott is cornered same way the hunt brothers were cornered too, he dared to challenge the system IN SILVER, I feel bad for all those smart people ahead of the curve that do not go along the game, same way Mr.Sinclair’s papers got squished and his business is cornered too.
      The only way to screw that system is to hold physical if you can afford it, forget about leverage with papers you will get smashed with algorithms. If you cannot afford physical, screw the system by not issuing any debt you do not need!

    • Galaxy 500

      Bet you.a dollar.he.doesn’t…make that a euro

  16. art barnes

    Greg, interesting & informative interview once again. This government is buying guns, ammo, & riot vehicles etc. and getting them to the local police departments all over the country in short order as well as stockpiling them for itself. Keep a watch on your local police department(s) and you will discover they are arming at a rapid rate for riot control events, many departments are out actively training for them as well; telling isn’t it? There may be no gold in the vaults but people control weapons abound. This is a clear indication that the Washington “think tanks’ know there is a better than even chance of an economic downtown wherein food and basic provisions will have to be distributed while demonstrations and or riots will have to be controlled. Social unrest, anarchy, food lines, etc., is what our Government is preparing for instead of getting its economic conditions into order. I believe you will witness more economic slowdown in 2014 and the slog to a third world economic status here in America will accelerate with some sporadic protest here and there, all the while the MSM, (the American Pravda) covers the Olympics and eats cake in their ivory towers with their Washington buddies & bankers.

  17. Tom H

    Greg, it was very nice stopping by the Watchdog this morning. It has been a while. Ahhh, what to do about the 220 trillion. Well… tis the season so sing it with me…”Silver and Gold, Silver and Gold…”

    Keep fighting the good fight Greg. Merry Christmas to you and yours, and as always, you rock!

  18. Mark

    Greg,
    Your interviews are terrific. It seems to me that in every interview, you try very hard to get the question “When” answered. Yet with the exception of Celente, none of the people you interview can put a time on when the manipulation will stop. I guess they are afraid to put their name to a prediction. I am sure that all the interviewees are right and given infinite time they will be proven to be right. The problem is as time approaches infinity, I won’t be here.

    • Jerry

      Mark.
      Watch the Bond market carefully. The first sign of impending danger will be there.

  19. Mitch Bupp

    first link… http://www.theinformact.org/

    Thank You Greg and Eric ……. the dance by the government and FED will be interesting…..

  20. Craig

    A TRILLION is a lot! This number is thrown around like it was nothing. Here’s the way I remember just how much it is. In this case we’ll use seconds, as in a clock.
    1 million seconds = 12 days
    1 billion seconds = 32 years
    1 TRILLION seconds = 32,000 years!
    Do you have this in perspective now?

    • Ugly

      To steal a phrase from the movie ‘Dumb and Dumber’

      Are you saying we have a chance?

      • Galaxy 500

        Now that was Funny….

      • lastmanstanding

        To use a few words from an Arnie movie…”no chance.”

  21. Glen

    Thanx for the great interview Gregg. Eric Sprott is probably the most respected gold expert I know. At least he is equal to Jim Sinclair. Sprott is being very agressive with his price forecasts. If they do not come true in 2014, it seems likely they will come true in the next several years. No one can predict the future and I know this so I will not be mad at Mr Sprott is his price forecasts are not correct in 2014. Eventually he will prove to be absolutely correct so patience is necessary. No one knows when the black swans will start landing.

    • Greg Hunter

      Thank you Glen. People forget Sprott was a top investment guy from 2000-2010. His premise is spot-on, but the enormous manipulation makes him look wrong. I can assure you he will be proven correct in the end. Add the math up and there is no way for a happy ending.
      Greg

      • lastmanstanding

        Amen Greg. Merry Christmas to you and your family.

        Honest things like math do not lie. They can only be deterred by evil…then only for so long.

  22. Cletis Talus

    Heard it all before! Now it’s 2014 when it was 2012,2013 before. Gold and silver lower yet and this experts don’t backup. Great position to be in when you can always sell the “next coming”

    • Galaxy 500

      Cletis,
      Nice nom de guerre. Do you feel like you lost if you buy a 20 year term life insurance policy and don’t collect in the first year? PM’s are an insurance policy. You hold them as a safety net. So how did you do in PM’S during the last ten/fifteen years? PM’s are being manipulated just as T-bills are. But who knows, maybe you believe they are a good investment.

  23. Larry Carter

    Great interview with Eric. Its time to bring Jim Wiley back and get his impressions for 2014. Lindsey Williams is predicting a reset of all the world currencies in the 90 – 12o day 1st quarter 2014. He says that the IMF will announce this reset and the US will take a 30% haircut off the dollar value. This will certainly trigger a hughe inflationary responce from the world.

    Merry Christmas, Larry

    • Greg Hunter

      Larry,
      Dr. Willie is coming back in early 2014. Merry Christmas!!
      Greg

    • Galaxy 500

      Larry,
      If the USD gets a 30% cut, it will go into freefall. Everyone who has any overseas (trillions held…more there than in circulation here) will exchange them for euros, Swiss francs, kiwi, Aussie…anything but US dollars. Reserve currency status is the only reason we have 10 to 12% inflation now (see Shadowstats.com).
      So many ways for disaster, so few people with vision and integrity in government

    • lastmanstanding

      If I understood JW correctly in an article last week, he stated that there would be a global currency reset. A global USD that will remain unchanged, and a domestic USD that will be heavily devalued.

      If true, it is a way to punish honest, working Americans even further, while extending the life of USD as the world reserve currency.

      Just when you think that it can’t get any worse…

  24. Jonathan

    Everyone should take it upon themselves to read the book that Mohamed posted a link to (note that you need NOT pay attention to the rest of the web site!)

    I recall first seeing this book in the late 90’s and thinking it was just extreme-right wing paranoid garbage (keeping in mind I was a self-described Liberal in those days, complete with a subscription to “The Nation!”) However, I now go through Chittum’s “Civil War Two Checklist” and I’m creeped out at how much of this “paranoia” has come to pass.

    Incidentally, I have corresponded with Chittum and he is quite a reasonable (and funny) guy who said he voted for Cynthia McKinney. All I can say is ignore the book at your own peril: if there’s truly a socioeconomic collapse on a grand scale in the U.S. you can look forward to people reverting back to their most fundamental tribal identities. For those that think a crisis is a precursor to some sort of “Green Awareness Kumbaya Moment’ all I can say is best of luck to you and I hope you’re not living in the likes of Los Angeles, Miami, or any of our other large cesspits that used to be “American” cities when this all goes down.

    • alols

      jonathan

      we agree.

      al ols

  25. Galaxy 500

    Greg,
    Thanks for bring Mr. Sprott back. He deals in the real world with real assets. Just read this article about King the RINO: http://m.washingtontimes.com/news/2013/dec/22/congress-divided-on-nsa-snooping-but-not-snowden/
    He says that if the USA was running these unconstitutional programs we.could have prevented 911. What bull shite that is. NSA couldn’t stop the Boston Bombers, even though they were amateurs AND the Russians had warned them. Does anyone really believe they could have prevented 911. NSA is about subjugation, not protection.

  26. Dang

    I think when the end of world gold manipulation comes to an end they well just lock the price of gold higher an keep it there. say $2500 G $150 S .

    • Galaxy 500

      How are they going to do that? We know the paper price is phoney now. The only way would be open the gold window and allow dollars to be exchanged at the fixed rate. If this happened, we wouldn’t have an ounce of government gold in a week

  27. Robert burke

    Well then explain why sprott was removed from any decision making at sprott if he wad right. Sprott was wrong but never admitted it. That’s why he was removed at sprott

    • Greg Hunter

      Robert burke,
      He’s still listed as the on the company website as: “Chief Executive Officer; Senior Portfolio Manager.” He cannot be listed this way on a company website and showing he’s still in charge and be removed. That would border on fraud and he could get into serious legal trouble with regulators. The website shows Mr. Sprott has NOT been removed.
      Greg

      • Robert burke

        I am only reporting that sprott was removed. You are an excellent reporter so why do you not investigate this allegation rather stating the website proves this is incorrect.

        Contact sprott board and ask them. He was removed from all investment decisions.

        Maybe this is just a rumour but you should investigate whether its true.

    • Galaxy 500

      He is being assault by the Fed and treasury. Just propaganda spread by trolls on the net

  28. 8Ball

    Let us phrase the problem in another way: “the debt keeps rising…” is the usual buzz phrase. This is to done to depersonalize the issue and make it appear that the inanimate entity called “debt” is somehow the root of the problem.

    How about: “we have a borrowing problem”. Pols and average citizens alike have become addicted to easy money and it is made to appear like there is no alternative but to keep borrowing. (You will notice that the people who lend it have no sense of pity for those who are unable to repay..). This puts the focus upon the real problem… weak willed and undisciplined individuals.

    A Pound of Flesh

  29. David

    The spot prices of PM’s will ONLY go up when the TBTF banks + Fed, + complicit governments + others [who want no competition for fiat currencies and fiat currency based financial products] DECIDE to ALLOW them to go up. OR when they lose the ability to manipulate and the physical prices start to seek equilibrium with real supply/demand fundamentals.

    I don’t read or listen to those who make price predictions for the next year or two.

    I do believe from all I’ve learned the ability to manipulate will end before 2020; perhaps a few years before that.

  30. Galaxy 500

    Susan Rice went tv to defend clapped. One known liar defending a proven liar. Clapped.should be.tried for perjury. And for.treason.

  31. Dan C

    It is wonderful & heart-warming that there is still an honest man like Eric left in the world of big-time finance.

  32. Dan Ryan

    Greg,

    This was an absolutely brilliant interview. Top notch! Thank you and a very Merry Christmas to you and yours!!

    Dan

  33. stupid me

    what happens when the gold is not there…..and what happens IF the gold is somewhere else ??
    I don’t know anything special. I only know what I read. some experts have done more research than I have. and who knows what the truth is about anything? . But there is some truth out there about some important things.

    Ive read a few articles by some people who talked about WW2 ,and how the Japanese confiscated and hoarded in the mountains all the gold they collected from the nations they invaded, as did the Germans, as did the USA when they won the war. Where is all tht Gold? if not at fort Knox, it might be secretly held somewhere.
    I read an article by ?? not sure who, Bix Weir ? (road to root A) about a vast stash of gold found/transferred to/ kept in caves in the grand canyon, that was Reported on in the early 1900’s. newspapers.

    What if the USA, like China and Russia, is keeping secret just how much Gold they have possessionof….so that when China is ready to reset the next reserve currency, and they come out and say , Hey folks, we have 50 thousand tons of gold, we’re good to go…. The USA can say, go for it China, we got 100 thousand tons , don’t worry about us. In fact we might justsee gold tumble down to 700 dollars all over again.
    What IF…..What IF….What IF…… what if we are all being played for fools who don’t know the whole truth.

    Theres so much stuff that needs to be studied out there that I haven’t gotten to it all yet. But I’m interested in these stories, and ….my suspicion is that none of us little folks, are being given enough understanding of the whole story to know whats going on. and that the deception by nations is clearly something that IS happening, probably from all sides involved.
    China is buying gold for a reason. and the USA wants folks to think there is no gold in ft Knox for a reason. IF there is going to be some important role for Gold in the new currency reset, don’t you think the USA Must have some plan ,more sophisticated than to just sell all their gold to China like what appears to be happening? Should I be this stupid?

    • Galaxy 500

      Your nom de plume seems appropriate. What if…What if…What If cows could fly? Would an umbrella stop a ten pound cow pie from 2,000 feet?
      I love these nay sayers trying to use fantasy as logic in an attempt to persuade the tinfoil hat wearing crowd not to buy PM’s. Would Nixon have been alarmed by the gold burn rate if we had 1,000 tonnes hidden away? And if it’s from the 1900’s, why would FDR increase the dollars to gold rate on our debt.
      What if stupidity was painfully? Wouldn’t the world being a better place? What if the Hitler was really controlled by aliens? What if…
      What if we look at the facts and leave the fantasy to the White house and Obamacare?

    • Anne Elliott

      Good questions… And here is a good article to stimulate more wonderings… http://www.zerohedge.com/news/2013-12-24/year-later-bundesbank-has-repatriated-only-37-tons-gold-700-total#comments
      WOW. If the US was hoping to repay Germany in 7 years, then they need to step up the repayment rate a little… Of course, if they’re not wanting to get them repaid, they’re right on schedule. BTW – the comments section of this article is enlightening and hysterical all at the same time.
      Good interview Greg – here’s wishing you and all the readers out there a very Merry Christmas!!

  34. 8Ball

    “What IF…..What IF….What IF…… what if we are all being played for fools who don’t know the whole truth.”

    Highly Probable

  35. Edmund Law

    The technical insolvency of the USA is irrlevent as it is not a Madoff, Enron, Zimbabwe or Argentina. As long as the USA has a military infrastructure and network of global bases that provides it with a military superiority over the rest of the world, the monetary backing of the US dollar global reserve currency is intact and inviolable. Real money today is and has been since August 1971 when Nixon closed the gold link Units of Destruction – fungible, divisible and with intrinsic worth by threat of forcible expropriation of resources or products. Armed force means you have all the wealth of the world at your disposal and you can demoninate the dollar currency numerator with vitually infinite wealth. So, please, no more talk of budget deficits, swelling Fed balance sheets, unfunded liabilities etc..if any of this mattered it would have mattered by now. The PTB care not one jot about these accountancy rules as they don’t apply to the global military hegemony. So Congress can and will write open checks for the Executive to virtual infinity.

    • Greg Hunter

      Edmund Law,
      And if China or the rest of the world wakes up one day and starts dumping U.S. bonds, then what? We bomb them?
      Greg

    • Jerry

      Naïve thinking.
      Hold that thought on your way to get your money out of the Bank. Hint… by that time it will be to late.

  36. Packratt

    Happy Holidays to all the believers of this pretend society.

  37. MAL

    Hi Greg and merry Christmas,
    As you often note and as Germany has found out,” if you don’t have it in your hands you don’t own it”. Question for any of your readers who care to tackle it: Are we refusing to repatriate Germany’s gold because we don’t have it or are we holding it hostage? We now know that we’ve been spying on Germany’s leader. Are we afraid that they may cozy up to Russia and or China?

  38. Robert burke

    Found out that sprott is being phased out at sprott by end of 2014. He will no longer have any decision making power over the company. Basicly Spott is doing so poorly that they are in acting a turnaround with out sprott. It appears sprott showed very poor risk management.

    Do to his unshakeabke belief in gold it became his undoing.

    I think this should wake up the gold bugs. The end is not near but it is for sprott.

    • Greg Hunter

      Robert burke,
      You don’t believe there are free markets do you? Every market is being manipulated right now and Sprott just mistimed the gold and silver market. You cannot change the natural course of any market forever. Gold and silver are going higher because the debt is going higher.
      Greg

      • Robert burke

        Not sure why you are so defensive. Sprott should have had better risk management in place. That is why some of his top performers quit. No diversification in place. Greed took over common sense.

        Sprott failed to protect his clients money and he is paying for it by losing his position at sprott….the markets have spoken and sprotts out.

        • Greg Hunter

          Robert burke
          He’s not out yet.
          Greg

      • Vess

        Greg, gold is down less than 30% and this loss occurred only this year. Sprott has lost his investors more than 50% two years in a row. I don’t care what he believes in and whether he will be proven right and when, but I certainly wouldn’t want him managing my money.

      • Liquid Motion

        If losses are real and substantiated (ie realised) then that requires action/recourse. If we are talking “paper” losses, then the issue is different. Still some risk mitigation warranted/necessary.
        He and Sprott Asset Management are subject to the same forces of Management of markets (PPT and Fed) as we all are.
        Those that follow technicals and fundamentals, would have just cause for keeping their position (notwithstanding substantial paper losses). In fact some would argue this is the point at which fortunes are made. Sprott hasn’t achieved Billionaire status because he is Dumb. He knows full well that manipulated markets cannot continue indefinitely. This works for the Nasdaq/Dow indices (on the upside) as much as it does for the HUI and the GDX (on the downside). Conviction in the secular trend in PM’s is what this is all about. Without it you fail and lose every single time. I would suggest Sprott has more chance of making another BLN $$$ before he loses what he has.

  39. alols

    From Jim willie–the jackass

    The following topics have been regularly featured stories with analysis and forecasts, included within the Hat Trick Letter reports for over nine years. As the tenth anniversary approaches in May, the world will finally show itself to be the manifestation of what the Jackass has described, and what The Voice has shared in guidance shining a spotlight on the many pathways. A great debt of gratitude is owed to him, and to a couple other key sources, as well as to my team of closely knit colleagues whose offices are scattered around the world. My main hope is that the clients (current and prospective) remain safe but also secure, their wealth tucked in Gold & Silver while they ignore the propaganda. Some giant quantum leaps in the Gold & Silver prices are coming soon to a neighborhood near you. The Wall Street executives are locked and loaded with huge gold accounts, hidden in off-shore accounts and even in Carlyle Group accounts. The public should also, if only they could turn off the noise boxes built by Goebbels and blared by the American Gestapo. May the new year be safe for the gold community and its new recruits. The potential for growing the community with the long gold train and its many railcars has never been better. The breakdown in obscenely controlled markets is matched by a breakdown in trust for both the governments and their paper Ponzi Schemes that pose as financial systems (bonds, stocks, currencies, derivatives).

    BANKS IN CHAOS
    ■LIBOR Frauds Extend to FOREX & Gold
    ■Cypress Focused on Gazprom, not Banks
    ■London Bankers Sign up for Chinese Yuan Swap Facility
    ■Frankfurt-based EuroCB Signs up with Yuan Swap Facility
    ■QE to Infinity Becoming Understood
    ■Massive Bank Settlements on Fraud (crime converted to business cost)
    ■Alternative Debt Rating Agencies Spring to Life
    ■Deutsche Bank the Object of Serious Fraud Investigation
    ■Deutsche Bank Collapse Serves as Bank Contagion Trigger
    ■Bail-in Procedures Locked & Loaded

    USTBONDS PROPPED BY MACHINES
    ■London Whale Reveals JPMorgue Reliance upon Interest Rate Swaps
    ■Rise of the Machines Seen in Interest Rate Swaps & Algorithm Trading
    ■European Banks Swallow Draghi Toxic Bonds Whole
    ■Tremendous Hidden QE Volume by USFed
    ■Indirect Exchange of USTreasury Bonds in Full Swing (USTBond Dump)
    ■China Heralds End of USDollar in Reserves Accumulation
    ■China Announces of End to American Sphere led by USDollar
    ■Japan Suffers Large Trade Deficits
    ■Sovereign Debt Grows with Austerity Poison Pills
    ■USGovt Debt Limit Simply Ignored

    ENERGY WORLD UPSIDE DOWN
    ■Russia Sells Crude Oil to China in Yuan Terms
    ■Shanghai Prepares to Sell Crude Oil Futures in Yuan
    ■China Moves to #1 Crude Oil Importer
    ■Saudis Denounce the USGovt Repeatedly
    ■USGovt Loses Egypt & Backs Down in Syria
    ■USGovt Courts Iran, but Energy Companies Spurned by Iran
    ■Shiite Gas Pipelines from Iran Continue to Connect Europe
    ■Petro-Dollar Faces Final Demise & Death
    ■Rise of Nat Gas Coop to Eclipse OPEC

    GOLD READY TO TAKE THRONE
    ■Germany Demands Repatriation of its Gold
    ■Dutch ABN AMRO Defaults on Gold Bullion Accounts
    ■The Great Run on Gold Bullion Banks
    ■Shanghai Gold Premium Reveals Arbitrage
    ■Iran Quietly Settles Energy Trade in Gold
    ■Turkey Quietly Serves as Gold Trade Intermediary
    ■Swiss Refiners Work Overtime to Recast London Gold Bars
    ■Rape & Pillage of Exchange Traded Gold Funds
    ■Airlift of 1000 tons Continues from London per Month to China
    ■London LBMA gold vaults go empty
    ■JPMorguen Sells its HQ in Manhattan to China for Half Price
    ■JPMorguen Flips & Goes Long Gold
    ■Chinese Prefer Gold on Trade Settlement
    ■Chinese Yuan Swap Facility as Stepping Stone to Gold-backed Yuan
    ■Progress on Gold Trade Settlement, Gold Trade Notes Next
    ■Currency Reset Hits the Scene, Gold to Lead the Currency Pack
    ■Nations Like Iran & Indonesia Join the BRICS Movement
    ■Gold & Silver Mining Firms Begin to Halt Projects
    ■China Acquires Numerous Gold Firms in Alternative Supply
    ■China on Verge to Reveal over 15,000 Gold Tons in Reserves
    ■Russia on Verge to Reveal over 15,000 Gold Tons in Reserves

    GLOBAL NASTIES & SUBTERFUGE
    ■Radiation on California Coast from Fukushima
    ■Vatican Purges Secret Slush Bank Accounts
    ■Obama Purges USMilitary Generals
    ■France Exploits Chad & CARepublic for Gold, Uranium, Coltan
    ■Langley Stirs Island Dispute between China & Japan in Desperation
    ■Iran Talks = Petro-Dollar Surrender Talks & SALT Talks
    ■Europe Loses Ukraine to Eurasian Trade Zone
    ■NSA Eavesdropping Backlash Works to Isolate United States

    THE HAT TRICK LETTER PROFITS IN THE CURRENT CRISIS.

    • Peter

      1st we had Jim Sinclair here with ” Gold to $ 50,000 ” but he gave no time limit or ? and who also said early 2013 ” You will never see gold under $ 1600 ever again ” and he was soooo wrong – gold hit $ 1180 instead .
      And now Eric Sprott ( who has lost a lot of money from his $ billions he had ) and Eric comes out and ” predicts ” again that gold will go OVER $ 2000 in 2014 …which would mean if gold stays at $ 1200 it would have to increase by about 75 % in 1 yr. .
      For silver he see’s an increase of 150 % in 1 yr. based on silver stays at $ 20 and goes to $ 50 in 2014 . Does he need an calculator or is he on crack ?
      By the way , Eric Sprott said once : ” Jim Sinclair is my hero ” ……lock where it got him .
      Some people just never learn …so sad .
      Does this website ever interview’s anybody who is closer to realty ( about gold / silver ) than these constant Perma-bulls ?

      • mohammad

        Peter,

        What can i say?
        Jim Sinclair is right and he is dead accurate, gold is trading now at north of 4000 dollars!
        It is 1200 for the fools! (please i do not mean you at all I mean every one looking at the numbers tagged to the Comex/London fix).
        And it is 4000 to the central banks redeeming their treasury bonds for gold.
        He is ACCURATE in his calls.
        If you calculate the import of gold to china and how much treasury they are dumping you will find it north of 4000$ an ounce.
        I do not have access to the hidden books but if some whistle blower can come out and open those books, 4000$/ounce may pale when looking at the real numbers.
        If we only think about the comex price as a sale opportunity, because once those positions are fully taken and the dogs are unleashed out of the gates then you will see the 50K price Mr. Sinclair mentioned becomes a reality!

  40. b

    Greg, Mr.Sprott is saying he doesnt know where gold is coming from.
    Isnt it possible Karen Hudes is right and there is 170,000 tons in Hawii?
    Is it not possible thats where the gold is coming from?
    If this is shown to be correct, whats the value of gold?
    Mr Sprott asked “whers the gold coming from?”
    Unfortunate you didnt mention this 170,000 tons to Mr.Sprott.
    I think Mr.Sprott is an excellent person to confirm this 170,000 tons.
    He might want to once he becomes aware of it. 170,000 tons changes everything.

    • Liquid Motion

      Implying that its either coming from Western Central Banks…or other sources (ETF’s, BIS, Vatican….etc.) OR all of them. He has documented very well that GLOBAL yearly mine production does NOT satiate the physical demand coming from China/India.
      If the vaults of the said are not empty, they soon will be. Once that occurs we will then see whether their will be a failure for non delivery at COMEX/LBMA OR continuation of selling/delivery of higher than annual production thus implying larger stores of gold other than recorded.
      BTW annual production is expected to fall for 2014 and beyond – implying even more discrepancy and potential for physical becoming the price determinant.

    • Peter

      Gold is now – Feb. 2014 – at $ 4000 an ounce ? On what planet ?
      I have 800 oz – would you buy it from me NOW ? I settle for $ 3800 an ounce … deal ?

  41. b

    odd,you guys dont allow my post concerning Karen Hudes and the 170,000 tons of gold.
    Interesting.

  42. b

    Well, you posted anyway, but no reply.
    I really wonder why nobody wants to discuss or better yet confirm the 170,000 tons of gold.
    If its really there, people better start listening very closly to what Goldman and the other banks have to say about gold.
    Actually, every time the banks are correct might be another clue that it does exist.

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