Sprott – We Are Seeing Unprecedented Events In Gold & Silver
July 26, 2013
On the heels of J.P. Morgan announcing its desire to exit the physical commodity business, they also clearly indicated they were staying in the gold and silver business. From J.P. Morgan’s release: “J.P. Morgan has also reaffirmed that it will remain fully committed to its traditional banking activities in the commodity markets, including financial derivatives and the vaulting and trading of precious metals.”
With that news aside, today billionaire Eric Sprott spoke with King World News about the unprecedented events taking place in the gold and silver markets. This is the second in a series of interviews with Sprott that will be released today. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part II of this remarkable series of interviews.
Sprott: “The price (of gold) being where it is is just a joke. It’s been totally manipulated, and when people realize what the real situation is in physical gold I think we will see a very quick run-up (in price).
There are lots of reasons for people all over the world to own gold. They can see what their governments and central banks are doing with the printing of money….