Menu Close

New Sprott interview, from Toronto Globe & Mail

Globe & Mail link

Sprott & Embry tend to cheerlead a bit, and drive by the rearview mirror – but anyway. Sprott sees silver as stronger than gold, over the next time period, and claims to have over 90% of his personal worth in PMs, and sleep well at night. (IMO, 20% is more than plenty in the PM basket, and time to start looking for OTHER ways to diversify out of fiat. May I help you select from our fine assortment of Maine beaver swamps?)

Excerpt:

The printing of money makes gold more valuable. You don’t have to be a genius to figure this out. The Johnny-come-latelies – the Paulsons, Einhorns and Soros – all figured out, when [the Fed announced the first round of quantitative easing], that they should own gold. It becomes more obvious every day as you see these financial challenges that we have in Europe.

I think gold is the reserve currency today. There is not a currency in the world that it hasn’t appreciated against by at least 300 per cent. And it has beaten every stock market. You can’t even rent a safety deposit box in Germany because they are all full of gold and silver … I am pretty convinced that gold will go a lot higher because it is under-owned as only 1 per cent of people’s money is in it. It could go to $2,000 an ounce. I could imagine it at $5,000. I am not giving a time frame on that, but I could certainly see that happening. But the real story now is silver.

——

…. I believe that the price of silver has been suppressed.

——–

Do you like base metal stocks because of China’s growing demand?

I wouldn’t be a buyer today. If interest rates go up in Europe and you have these policies of contraction, how much can China bear? I don’t believe in the growth of the developed countries, and China needs the developed countries to buy goods.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RSS
Follow by Email
LinkedIn
Share