Monday, August 6, 2012
Eric Sprott: Silver is Suppressed or it Would be $150 an Ounce *vid*
Posted by Charleston Voice
6 August 2012
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.