Eric Sprott manages $10 billion, and he’s worried about the global financial system. He says, “There is this huge chaos going on in the financial business which I think we all sense. They are using desperate measures here to hold it together. . . . at some point it blows. There’s no doubt about it.” Sprott says the price of gold and silver are being suppressed because, “It’s the canary in the coal mine.” Rising prices in precious metals, according to Sprott, would tell people, “Central bank policies are ridiculous and irresponsible, and people would realize that with the price of gold and silver going up.” When it comes to silver, Sprott says, “People keep buying at a rate to 50 to 1 to gold.” As far as gold is concerned, Sprott contends, “Physical demand for gold is out of line with supply. How can all these new people come into this market when there has been no increase in supply . . . for the last 12 years?” Sprott’s analysis shows central banks are selling to make up for the shortfall and opines, “I would hate to think what happens when we all find out there is no gold in the Treasury.” Join Greg Hunter as he goes One-on-One with Eric Sprott of Sprott Asset Management.
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Greg is the producer and creator of USAWatchdog.com. The site’s slogan is “analyzing the news to give you a clear picture of what’s really going on.” The site will keep an eye on the government, your financial interests and cut through the media spin. USAWatchdog.com is neither Democrat nor Republican, Liberal or Conservative. Before creating and producing the site, Greg spent nearly 9 years as a network and investigative correspondent. He worked for ABC News and Good Morning America for nearly 6 years. Most recently, Greg worked for CNN for shows such as Paula Zahn Now, American Morning and various CNN business shows.