Eric Sprott: “The Powers That Be Don’t Want To Admit There’s A Problem”
By: Tekoa Da Silva and Eric Sprott
SilverSeek.com
September 10, 2015
The market is out of step with reality, Eric Sprott tells Tekoa Da Silva in his recent interview.
“We had no growth in the economy to speak of. Yet these stocks were trading at record-high prices,” he says of the overall market.
He also believes the banking system is over-exposed to assets which stand to depreciate in value.
The strength of bonds and stocks so far has masked these weaknesses in banks’ balance sheets, says Eric, but that could change if markets came under more strain. “When you have people starting to take money out of the banking system,” he warns, “that’s when we all find out what the assets (of the banks) are worth.”
Especially worrying for investors in stocks should be the massive build-up in debt and un-funded obligations in developed countries, says Eric. This is leading towards a big breakdown in world bond and stock markets, he believes.
Eric also discusses his “principles” for success and how anticipating a crash in tech stocks during the late 1990’s led him to first become interested in gold and silver.
Read on for Tekoa Da Silva’s full interview with Eric Sprott, Chairman of Sprott Inc. (For a video re-play of Eric’s speech and other keynotes at the Sprott-Stansberry Natural Resource Symposium, Click Here.)
Tekoa Da Silva: Eric, it’s a pleasure to be speaking with you again. To start out with a broad open-ended question—what are your thoughts here from a macro perspective when you look at the world economies, financial markets, gold?
The Rest…HERE
