Listen to Eric Sprott share his views on gold imports in India, the growing volatility of the stock market, the effects of declining oil prices on the global economy, and his short-term outlook for gold. - Source, Sprott Money
The U.S. is by far the world’s largest debtor, and the fact that it still retains its world reserve currency status is the primary reason that its paper retains any value whatsoever at this point.
So what we’re faced with right now is this recurring propaganda that is being reported in the United States that the U.S. economy is growing strongly and that job creation is robust. What utter rubbish. Everything is being falsified to keep this myth alive and keep the U.S. dollar and the bond market afloat.
So for somebody to say that this is the only game in town really shows the depth of stupidity that’s on display today. Part of this plan is the relentless suppression of the gold and silver prices. I think it’s reaching new levels of absurdity as we speak. There is no justification for the price action that we are seeing, even today when prices fell sharply as soon as the London market closed.
The reason for the continued manipulation is because gold and silver represent the canaries in the coal mine. If they were really reflecting the truth this whole myth about low interest rates and everything being fine would be destroyed. I think there is infinitely more evidence coming out daily that the offtake in the East — India, China Russia, etc — is continuing to grow.
In the meantime, what remaining gold is left in Western vaults continues to be depleted. So I believe this suppression is very much in the final stages. If that is the case, I think the subsequent price explosion will be something to behold. - John Embry of Sprott Assets, via King World News
"My suspicion is that 2015 will give us more of the same. Meaning the global economy is flat on its back and it will stay there for quite some time. 2015 will bring small pockets of prosperity, but the prevailing trend towards increased government and increased government debt will continue to strangle the overall economy.
One would hope, you’ll note that I used the word ‘hope’ again, that the big thinkers of the world are right and that I’m wrong. I understand the hope people have that Western central planners can print trillions of dollars of counterfeit currency units and that liquidity will overwhelm concerns of solvency. It certainly has worked for the last 2 or 3 years.
It would be wonderful to have a set of circumstances where contrived liquidity was the antidote for the sins of the past decade. I just have a very difficult time seeing that come true.” - Source, Rick Rule via a recent King World News interview
Eric Sprott, Chairman of Sprott Asset Management, and James Turk, Director of the GoldMoney Foundation, talk about Eric's book and how his analysis shows that the US government, with a GDP of 15 trillion, has liabilities of almost 80 trillion and that these promises will be broken just as the Greek government is breaking its commitments.