Money manager
Eric Sprott says, “The central banks’ gold is likely gone
with no realistic chance of getting it back.” Don’t expect
this revelation to get any coverage by the mainstream media. In
an interview last week, Sprott’s analysis was met with words
such as “gold bug” and “conspiracy theory.”
Sprott answers that sort of disrespect by saying, “We’ve
had so many conspiracies, I don’t know why anyone would think
this was unusual.” To back up his point, he named “LIBOR,
electricity markets in California and the Madoff” scandals.
Sprott’s analysis shows a “flat supply” and at least
a “2,500 ton net increase in gold demand” since 2000.
“Where’s all the gold coming from?” asks Sprott.
He says Western central banks “. . . keep supplying this market
with product in order to keep the price down so nobody knows how
vulnerable the situation is.” Sprott, who manages nearly $10
billion in assets, boldly proclaims, “We have a shortage of
gold.” Join Greg Hunter as he goes One-on-One with Eric Sprott
of Sprott Asset Management.
