Eric Sprott: Prepare for Bullion Prices to Go Supernova

Read more: http://www.businessinsider.com/eric-sprott-prepare-for-bullion-prices-to-go-supernova-2011-7#ixzz1RIORXfBq

Eric Sprott: Prepare for Bullion Prices to Go Supernova

Chris Martenson, Chrismartenson.com | Jul. 5, 2011, 6:14 PM

"I think that the prices will continue higher. I mean the amount of money printing is unbelievable. I just think you have to take that initial stand in terms of buying it. I use the James Turk analogy: just keep dollar averaging. We have gone up eleven years in a row, this year it looks like it will be no exception; I would certainly think next year will be no exception. If we ever have QE3 announced, I think gold and silver will just go absolutely bonkers here. And so I just think you have got to step in there and own it; we’ve had these fears all the way along. You know, $400, and $500 and $700 and $800 dollar gold, everyone was afraid it was a one-time thing. I don’t think it is a one-time thing, I think it is a secular thing. It’s going to carry on for quite a while here until we find some resolution of these problems. And the resolution probably will be some form of default where people just have to expunge debts that cannot be repaid. So, you have got to be in some asset which will not be affected by that."

So predicts Eric Sprott, founder of Sprott Asset Management and famed investor. In this wide-ranging interview, he shares his insights on the precious metals markets - specifically what investors need to be aware of in terms of the way the markets are currently managed (manipulated), the macro outlook for the economy (grim) and the true value of gold and silver (very underpriced; particularly silver).


Eric Sprott is Chief Executive Officer, Chief Investment Officer and Senior Portfolio Manager at Sprott Asset Management, LP. He manages Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Bull/Bear RSP Fund, Sprott Offshore Funds, Sprott Canadian Equity Fund, Sprott Energy Fund and Sprott Managed Accounts. He also is the Chairman of One Earth Farms Corp and a Member of the Executive Committee of Central Gold-Trust. Eric's predictions on the state of North American financial markets have been captured throughout the last several years in a monthly investment strategy article he authors titled “Markets At A Glance”. Mr. Sprott holds a Chartered Accountant designation.



http://media.chrismartenson.com/audio/eric-sprott-2011-07-05.mp3


Read more: http://www.businessinsider.com/eric-sprott-prepare-for-bullion-prices-to-go-supernova-2011-7#ixzz1RIOK5LaJ


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