Eric Sprott – Mainstream Bashes Gold, But New Highs Coming
March 29, 2012
Today billionaire Eric Sprott told King World News the central planners are desperately trying to convince the masses that everything is okay. Sprott, who is Chairman of Sprott Asset Management, also said the mainstream media continues to bash gold. But first, he had this to say about the global economy: “I think it’s safe to say we’ve hit that ‘Minsky moment’ where the productive capacity of the country is not capable of paying off the debt. All we’re trying to do is push it down the road so maybe there is some luck and these economies will come to life.”
Eric Sprott continues:
“But all the data we get, whether it’s European PMI, UK GDP, almost any data point we get seems to point to a contraction in Europe. So it’s pretty hard to imagine that anyone is going to pay off their debt when their GDPs are contracting.
So, I think it will be an ongoing process. The powers that be are trying to convince the masses that everything is okay, but the opposite is the case….