GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Tuesday, October 7, 2014

Eric Sprott: There's No Real Markets Anymore

Eric Sprott and his team release great in depth free articles in an email newsletter, Sprott's Thoughts and Sprott's Markets At a Glance and Sprott also created the Sprott Physical Gold Trust (PHYS) and Sprott Physical Silver Trust (PSLV). During this 30+ minute interview, Jason asks Eric Sprott about his background and his long term track record of successfully predicting the collapse of the technology bubble in 1999-2000, banks collapsing in 2007 and other great market calls he's made in his career. Eric talks about the importance of reading the work of many experts for perspective and also knowing accounting so you can look for aggressive accounting or accounting fraud. Next, Jason and Eric discuss how the real economy is doing in the US and globally. Eric thinks the real economy all over the globe is not growing at all. Jason and Eric talk about inflation, stagflation, how unemployment and part time jobs are much higher than reported and how the goal of central planners has been asset price inflation at all cost. The remaining part of the interview is Jason and Eric discussing the precious metals markets, supply and demand for gold and silver, the paper markets for gold and silver, how much longer he thinks this is sustainable and what Eric thinks will happen to the miners. Eric suspects miners will continue to find more creative ways to cut costs and high grade producing mines that are not meant to high grade. Eric thinks sentiment levels mean a bottom is just about in.

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