The Phaserl




Eric Sprott, Chairman of Sprott Inc joins SGTreport for a detailed analysis of the economic breakdown of the global economy, and the latest Black Friday gold and silver smash.

On the cartel manipulation of the metals: “I don’t when it ends, that’s the unanswered question that we all struggle with here, but we all know ultimately what’s going to happen… I think there’s a huge pay day here at the end of the line because we’re in a financial Ponzi scheme, and we know the end result of those things.”

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132 comments to BLACK FRIDAY GOLD SMASH — Eric Sprott

    • Gnostic

      Can You Believe Your Government & Those who have Given us Fake money Supports This?

      • I thought Satan couldn’t manifest physically in this world. Guess I was wrong.

      • Jacobson

        Video from today 30/11/15
        PM Netanyahu Meets Russian President Putin

        • After Turkey returns the province of Hatay, Israel will have to give back the Golan Heights followed by being forced to make permanent peace with its neighbors in exchange for the return of stolen land.

          • Ed_B

            Does this mean that the US has to be returned to the Indians?

            • lastmanstanding

              Then we could have a casino on every street corner…instead of starbucks!

              • Eric

                More natives. Fewer jews. The way it should be.

                Ed, I’m just passing on what Fulford is reporting.

              • Gnostic


                We have a Indian Casino nearby & when you enter (which I do not) there is a plaque on the wall with the names of directors,
                The Chief (Front Man) on Top, Every other name was a Stein or a Berg. I suspect all Indian Casinos are structured the same.

                • lastmanstanding

                  Sorry Gnos…was being sarcastic.

                  Brother, there are lots of reservations here in Montana so I know what goes on “the rez”. They get their Indian check and live mostly in poverty and abuses. Lots of bad stuff goes on and most still carry a “chip”. However, their are many that are good and honest people that attempt to keep their heritage alive for the youth…it doesn’t seem to be going well.

                  The money for most/all of their enterprises come from some other source mainly gub. O woe is us. So I am not surprised by your comment because I know your right.

                  I won’t get into it any more than this but I do know that their ancestors are rolling in their graves like many of ours.

                • Gnostic

                  @last……”Don’t go down without one Helluva Fight”

                • Ed_B

                  “However, their are many that are good and honest people that attempt to keep their heritage alive for the youth…it doesn’t seem to be going well.”

                  No, it doesn’t… but then, why would it? Considering the progress of humanity in so many areas over the past century or so, why would anyone want to become steeped in a stone age culture? Not saying that it is bad by any means, only that it is not what a lot of young people want. Appreciation of cultural heritage is often something that people grow into over time, so some just aren’t ready for it when they are young.

                • lastmanstanding

                  Amen brother!!!

              • Ed_B

                Sweet. Yep, them and Walgreens do seem to be everywhere.

    • Larry from Montreal

      That was an interesting talk. I hope some young people listen to that before they fight banker’s wars.

  • Mike

    ‘Hang in there’????? After years of listening to these guys as knowing it all, I’ve recently started to question their motives. How many times are they allowed to be wrong with their predictions until they are called out? I know others feel my frustration. Nevertheless, the ponzi continues unabated.

    • Beligarant

      @Mike : Yep, these people have been off the charts wrong and cost a lot of people money and retirement accounts with their idiotic advice. Sure scream manipulation or whatever but they are the experts and should be able to make these calls. I never listen to these dumb pimp interviews anymore because its the same circle jerk where they are screaming buy PM’s and the end is near. I feel like a moron for ever listening or believing a single word out of Sinclair, Sprotts, Holter, Paloney, Morgan and the entire lot. They are nothing more than con artists selling a subscription to their newsletter or pimping their silver funds. What a sick joke they played on all the people listening to their advice.

      • Eric

        Ahhh this is fun. Capitulation must be right around the corner.

        Quick. Everyone go out and sell your Gold at the bottom right before it goes to $8000/oz. An 8 fold increase just like what happened in 1979/80.

        The Fed is going to raise rates in December. ba ha ha haha! You can buy US Treasuries.

        • Beligarant

          @Eric : Maybe you should read my post below that Jim Sinclair was calling for $900 gold back around 1982 after the bottom fell out of the market. His call was wrong until about 2010 so below I said his call was wrong for 20 years but actually closer to 30 years.
          I’m not telling anyone to go sell their silver and buy t-bonds. Where did you get that? What I’m saying is these people have been dead wrong for upwards of 5 years and they all have a product to sell. No one is going to buy that product if they say silver is going down to $10 over the next 2 yeas. They need more sizzle and always preach some type of moon shot which has been going on for upwards of 5 years. This moon shot is never going to happen and people are finally coming to grips it was just a con by someone peddling products they needed to sell. Unfortunately it fleeced a lot of peoples 401K’s and stock accounts. It was a con, scam, 3 card monty and evident as the metals have fell from $50 down to $13.90 as these so called experts pimped the metal all the way down trying to entice panic buying. Sick!!

          • Eric

            So you’re saying you want the dollar to die instead? That would be fun too. Personally I’d rather see it keep going while I buy metal on the cheap. What is the price adjusted for inflation? Because the Fed is still monetizing 1 trillion each month.

            Listen to all. Follow none. Why are you only listening to Jim Sinclair? I don’t know how old you are but I assume you are a grown up and can make adult financial decisions with your own wealth? I am happy to buy silver at 1/3 of it’s 1980 high and not blame others for my ill advised decisions.

      • Mike

        I’m just glad that my family members and friends didn’t listen to my advice. They would laugh at my ramblings of metals manipulation, and now I’m able to see the comedy while inside I cry.

        • Eric

          That’s weird. My mom was just telling me how they have pointsettias at Home Depot for 99 cents each and you can buy up to a dozen.

          I told her MOM! You need to buy some Gold! Mom goes, “yeah it’s really cheap isn’t it?”

          Why would they laugh if they don’t know the difference between money and currency? What did they invest in? AIG? GM?

    • SGT

      So Mike, you’re pissed off at Eric Sprott, or at the international banking criminals which do not include Eric Sprott? Keep your eye on the ball.

      • Eric

        I enjoyed this interview very much Sean. Common sense went away a long time ago from the non-thinkers. Glad you and Eric Sprott are here to bring it back to town.

      • Mike

        I’ve kept my eye on the ball Sean. How many more times are we going to hear this regurgitated, funky smelling pitch?

        • SGT

          Hey Mike, just because you’ve lost fiat by purchasing honest money, it doesn’t make Eric Sprott a bad guy. But bitching about it here kinda makes you extremely un-gentlemanly. And by the way, if you don’t like the “pitch”, then by all means, go buy a new car at zero percent financed over 72 months. (You’d get the reference if you actually listened.)

  • Millicent

    Sprott, Rule, Embry, Turk, Sinclair, King World, etc. They have all been talking their book for years now.

    You are right to question their wisdom and motives. A lot of people have paid a price for heeding these pipers’ tune.

    From the USA Watchdog blog:
    ” Mike R
    11/27/2015 •

    Well its day after Thanksgiving, and the last time I posted was back in August on the J Sinclair Interview. Someone suggested I come back Jan 1st and tell how I feel about my pm holdings. Well thus far J Sinclair’s forecasts of horror by this fall has not come to fruition, and my gold coin holdings are worth less than in August and worth less than they have been the past 6 years. Silver too is the same for what its worth. I think all of this doom porn from guests on this site, was just a bunch of nonsense that I should have never listened to. Come Jan 1st, I’ll come back, and likely be reporting that gold and silver are much lower than here, after the Fed raises its rate a quarter point. I will likely also be cashing out a 401k to have enough cash for a few more months, since my business start up, has not been going well at all. My GOTS process is killing off any chance of a retirement, so whether the government would have taken it had I left it in, is a moot point, as I have had to life off it during the past 9 months. The rest of my 401’s that I cashed out to buy so much pm’s, is down about $70,000, and had I left it in, and in stocks, it would been up about $120,000, so that means I lost out about $190,000 in the past 5 years by following the so called ‘wisdom’ of GOTS and J Sinclair. Sucker born everyday. And I happen to be one of them.”

    I like eddiemd’s comment:
    “You will never be the richest man in the graveyard.”

    • Eric

      “and my gold coin holdings are worth less than in August.”

      -Some people can only thing of money in terms of dollars and price. Not Gold and value.

      “after the Fed raises its rate a quarter point.”

      -Not gonna happen. Anyone who thinks the Fed is going to raise rates doesn’t understand this financial system.

      “I will likely also be cashing out a 401k to have enough cash for a few more months…”

      -Why would anyone think they own anything related to this corrupt US dollar based system? The banks rewrote the law with Dodd-Frank in 2009. You don’t own anything that you don’t already have in your pocket. And your 401k is just worthless currency. Money, on the other hand is Gold. I cashed all my IRA’s out 3 years ago, paid the taxes and penalties and used it to stack as much physical metal (money) as possible.

      “The rest of my 401’s that I cashed out to buy so much pm’s, is down about $70,000, and had I left it in, and in stocks, it would been up about $120,000, so that means I lost out about $190,000 in the past 5 years by following the so called ‘wisdom’ of GOTS and J Sinclair. Sucker born everyday. And I happen to be one of them.”

      -Yes you are a sucker. But not because you lost fiat currency you didn’t earn in an account that doesn’t belong to you. Because you still haven’t bothered to look up the difference between money and currency!

      Stop being a moron!

      • Timco

        @ Eric. As far as an interest rate hike in Dec. I could be wrong, but, judging from the futures contracts, straddles and strangles, open interest for the 2 year, 5 year and 10 year notes, a rate hike is not anticipated by the hedge funds. In other words, the spread on the puts and calls is normal at 6 strikes and rising. To me, it looks like business as usual until March. The 30 day fed funds rate is a total BS smokescreen. Dec 4th could be an important turn day.

        • Eric

          What’s on December 4th? I would expect the volatility to kick up a bit over the next few months. December is always an interesting month in the markets. Then year end tax loss selling followed by a fresh start in January. I remember last year was a fun ride for the metals in the first 2 months followed by 9 months of pain. I could see oil dropping a bit more over the next few months which will cause the dollar to rise and gold to drop, but it will be interesting to see if there is any reaction to the “no change. no change” announcement in 2 weeks. But the stuff going on in the middle east could easily create more volatility.

          I could also see as you said “business as usual” until we wake up one day and there is no more gold to buy or there’s a 6 week delay for delivery of metal. Probably still a coin or 2 to buy here and there.

          • Timco

            @Eric- ~Dec 4th will be the revised non-farm payrolls report. It’s all bull–t, but it’s an excuse for the hedgies to move the market in their favor. And yes, you’re exactly right. The gold manipulation will end with a bang in the night, not a whimper. There will be no time to react.

        • Timco

          One other interesting note. The over hyped Shemitah did not occur, simply because of that. It was over hyped. The traders can’t make money if you know their game plan, on exercising the options- bought over 3 YEARS AGO!! These call options are now worth hundreds of billions of dollars. Therefore, the 37 month FLEX contracts have been extended to the end of December. The FLEX contacts are so dark and corrupt, it boggles the mind. BTW- it’s foolish to think the market has a mysterious selloff for some unexplained reason. The cycles are caused by stock and index options, not voodoo.

          It could get very interesting in Dec. If a steep selloff does not occur, they’ve figured out another way to pick our pockets. I’ll keep looking into this. It blows my mind what is happening. Almost like a bad dream I can’t wake up from. I have never seen anything so twisted and perverse.

          • Eric

            I’ve had the same bad dream for 7 years. I think the Shemitah was over hyped no doubt but I would say it did occur. It’s a 7 year cycle and anyone who thought something was going to happen on a specific date or there was going to be a big debt jubilee are a lot like the traders who expect a december rate hike. But I prefer Jay’s analysis of the Shemitah cycles…

            Jeff Rense & Jay Weidner – The Cycles Of Time

      • Ed_B

        “Some people can only thing of money in terms of dollars and price. Not Gold and value.”

        Agreed, Eric. This is because all too many confuse “price” with “value”. These two things are not the same, yet many either believe that they are or simply do not know the difference. Right now, the prices of gold and silver are low but their values are high. We know this from the sheer volume of fiat that continues to be printed. Soon enough, the curtain will be whipped aside and those who are pulling the strings and pushing the levers in the gold and silver markets will be fully revealed to one and all as the charlatans they truly are. They are the printers of colored paper and the suppressors of PM prices… and they use their colored paper to do it via the futures market and a process known as “naked shorting”.

        Also, a lot people piled into gold and silver with unrealistic ideas of instant wealth and some thought that the timing of a large rise in price could be predicted. It can’t. Not by you, me, them, or anyone. Only God knows the future and He does not share that info with very many people.

        They then compounded these errors by buying more PMs than they could afford, some even on low interest credit cards, and either ended up owing more than their stack was worth at current market prices or retained insufficient cash for their daily needs and were forced to sell at reduced prices.

        Even these few comments demonstrate their many errors, yet instead of manning-up and accepting that their #1 problem in all this was THEM, they have to blame others with the old “they made me do it” nonsense. Horse pucky! No one MADE them do anything. They did not know what they were doing when buying an asset, so got into short-term trouble with it. PMs are not an asset for the short-term. They work best over the LONG term as an inflation hedge, as financial insurance, as a store of value, and as a long-term savings plan.

        I could write a substantial article on how to correctly acquire assets, including PMs, that would avoid practically all of the problems they had. I just might do that for posting to the Silver Doctors web site. I have been buying PMs since early in 2010 and have NO regrets whatever about doing it because I did it the right way and not because someone else told me to do it. I did it because I believe that it IS the right thing to do… but only when done the right way and with reasonable expectations. So, yes, the PMs that I own are worth fewer fiat dollars today than when I bought them. So? The insurance policies I own are worth less than when I bought them too but that does not obviate their usefulness in my overall financial plan. With a time-line that stretches forward 20+ years, I am quite sure that the buying and holding of hard money will be better for me and my family than betting on a wildly out of control debt and fiat paper Ponzi scheme. But then, that’s the thing about life. We all make choices that we have to live with once we have made them, so… choose wisely.

    • SGT

      M, let me be very clear, BILLIONAIRE Eric Sprott doesn’t need to “talk his book” on my little you Tube channel, any more than you need to bash him for being a stand up guy. BTW, since Sprott has his OWN money 80% invested in precious metals, he’s gotten hurt over the past 4-5 years too. Perhaps you didn’t actually listen to the call.

      • Mike from the North

        If anyone is complaining about the message Eric is providing and casting doubt on his motivation then these people are in my view too shallow to understand the real reason why one buys PMs.

        The present value of your PMs is irrelevant. However the number of ozs you hold will be very relevant when Gold goes No OFFER.

        History has told us that ALL FIATS eventually fail. Present times tells us clearly that the Banksters and Governments are using every trick in the book to keep this PONZI going and are quickly approaching their limit of delay.

        If you own physical ozs just be glad. Just take a breath and wait out this game.

        You will win in the long run.

        Today is just today. Owning PMs is for protection of the storm brewing and headed our way.

        Personally I think Eric Sprott is one of the most credible Canadians speaking out on this issue.

  • bob arsenault

    Millicent, very true. And you never hear these guys apologize for steering folks in a direction that has killed them. I guess it is no big deal for Sprott who has billions…but for us little guys, it has killed us. I no longer listen to these guys. as a matter fact, I very rarely come on this site because it is riddled with doom and gloom stuff. I’m happier to boot. lol.

    • Eric

      I’m sure Sprott has billions because he is steering himself in the wrong direction.

    • SlowBoBabe

      I very rarely read your comments because they are riddled with more of the typical Bob A worthless drivel than I care to digest, and I’m much happier for it. lol.

      • SGT

        I hear you – I can barely bring myself to read them sometimes. There are people here who revel in slinging sh#t at the truth tellers as opposed to the criminals whose crimes go unpunished day in and day out. But look, the people begged Pilot to crucify Jesus and free Barabbas, so absolutely nothing surprises me. People like Bob A are part of the problem.

        • Eric

          Imagine the country we would have if everyone read the Constitution instead of all the books they read. Assuming they read at all. Or if everyone focused their anger on Obama instead of each other. Then we might be getting somewhere.

          We have more in common than we don’t.

          • Ed_B

            “We have more in common than we don’t.”

            That we do, Eric, but each and every day brings us proof that the old “divide and conquer” idea STILL works. This would not work if people were aware of it being used on them… or maybe it still would. Who knows? Most people remind me of a deer that escapes death and then 2 minutes later are munching away happily as if nothing had happened.

        • Pizza

          SGT, please do not take any offense at my comment that is not my intention. Yes there are people who are currently not very happy with the prices suppression of PM’s by the mafia government. There are also people who pump PM’s and predicting moon shot spikes in the rise of the price. Someday that will most likely happen. Better to hold it than not. There is also another point of view as well. There are people of many age ranges that frequent this site some of them have time on their side some do not. Some people may perhaps have to cash in some of their metals to stay in the game of life. That my friends happens to be the fiat paradigm that we still all live in today. Does anyone know for certain when that is going to change? No, no one does. I’m trying to make sense of all the negativity between the readers and the defenders of PM’s. It’s sort of feels like you’re in a battle and your fighting a fight but now you’re getting shot at by friendly fire. I for one do understand why some folks feel that way. Personally I have advised many of my friends to invest in PM’s over the years and many did. At this point I am not a very popular person. In the future I could be a hero. My reasons for buying are still the same it’s the future security that I believe we must all be invested in it’s not for today. On the other hand some people do not have that kind of time their future is today. No different than believing the government who is saying there are green shoots in the economy we are well on our way to economic recovery. Really? Also no different than some of the PM sites that have predicted huge price jumps on PM’s and those dates have long passed us by. Who and what do you believe? This debt based society cannot last none of it makes sense. The reasons for holding PM’s makes total sense, the only question is how long to wait? Were all stuck in between the devil and the deep blue sea. We’re all trying to do the right thing for ourselves and the people we love. Everyone is looking for an answer to the best way to protect all of our hours of slaving for a system and people are receiving mixed messages. I understand where everyone comes from. Don’t be too quick to defend the PM pumpers who make predictions about timelines I respect the ones who say you need to hold it that is true. The ones who make these bold predictions and give these timelines and price values shame on. You do not know so do not make false predations to benefit from others, if that is your intention. Don’t predict something you cannot. Is the economy in a recovery? No it is not. Somewhere there has to be a safe place in this world or should I say a credible place to get reliable information. IMHO for all of you who have over extended yourself and went all in on PM’s or bought more than you should and are now feeling the pinch and selling at a loss I feel your pain. For the ones who can hold and not sell out just sit tight. It’s a waiting game and who can hold out the longest. If silver peaked twice at almost 50.00 and our economic circumstances were not in as a severe decline as they are now it will hit 50.00 an OZ again. No different than gold will reach its all-time high. Be glad you have some protection for your future. Live for today buy the things you need to buy with your fiat. Even set some aside for the future you have to, it is still our medium of exchange. Someday it will not be, then all the holders of PM’s will certainly be grateful.

          • I wish people would stop using the word “believe.” If you want to “believe” then you will surely get hurt. Either know or don’t know. When you don’t know, find out!

            Also, time is relative. Time can seem to move more quickly, or it can seem to move more slowly. But space and time are the 4th dimension and they are part of the illusion. If you can transcend space and time, you have won half of the spiritual battle.

            For those with children, what kind of legacy do you plan on leaving them? Worthless paper supporting war or physical metal supporting peace?

            It doesn’t seem like anyone plans their lives out very well. The chinese plan things 100 years ahead. Americans can’t even plan on anything next week. Maybe that’s why we’re getting creamed.

          • Ed_B

            “Some people may perhaps have to cash in some of their metals to stay in the game of life.”

            If they do then they have made the mistake of buying more PMs than they can afford. I bring this up because a lot of people do not know the difference between “I can pay for that” and “I can afford that”. We all need to maintain a cash cushion of some kind as an emergency fund. Anyone who has no emergency fund set aside has no business buying PMs or any other asset, IMO, until this basic but important 1st financial step is taken. Once you have your e-fund set up, then, sure, start buying assets including PMs. But not before then. Never being forced to sell low is a powerful tool in an investor’s arsenal. Don’t go shopping without it.

  • Ferrari


    Hang in there if you can, really. Sportt is a superb guy, has been consistently right for decades and ahead of the pack many, many times. That’s why he is a Billionaire and he is in your camp big time. He is humble and admits when his odd specific forecast don’t come to pass on time. I think we will look back and greatly respect these guys again like Sprott. For me, what queers the pitch is the guys like Bo Polny who week after week call price predictions and are wrong week after week, and in Bo’s case, year after year without shame or any signs of being humble in any way. Sprott is a humble chap, a charitable chap, a good human being and a very successful one, the one and only time I heard Polny admit he was wrong when when he said he had not aded up biblical dates properly! Just by that statement alone we should know he is an an amateur at best.

    Sean – please get Bo back on now if you can. Research all his wrong forecasts (Silver Doctors has a community of guys who have record all of them for years) and please grill him. Lets hear what he has to say. He is doing a disservice to all those good people who are hanging on.

    Cheers all

    • Beligarant

      @Ferrari : Maybe you are right but someone recently posted an old scanned newspaper article on a blog written by Jim Sinclair dated around 1982 stating gold would soon be in a bull market and would hit $900 or higher. At that moment I said, WTF?!?! Anyone that knows the price of gold in the 1980’s is it went down, down, down and hit around $200 or $300 and stayed there until about 2001. However, Jim Sinclair was calling for $900 gold well after the bottom of the market fell out and his call was wrong for almost 20 years!!! Yes, you read that right 20 years his call was wrong!!
      As an investor in the metals I’m getting very afraid the exact same scenario is playing out again.

      • Eric

        Beligarant… just one question.

        What will interest rates be like in 20 years? And how high will the national debt be at that time? Or in 10 years? Or in 5?

        • Bobnoxious

          @Eric no one knows for sure what is going to happen. If you look at interest rates today they’re pretty much at zero and could stay that way for a long time. You buy PM’s it’s called having faith in the decision you made and what price will they be 20, 10 or 5 years from now? Nothing is making any sense in today’s world of investing or economics. If PM’s are indicators of current economic they certainly are not living up to where they should be, all things considered. We are in what is called the unknown. Things that should make sense make no sense, things that always made sense make no sense in today’s world.

          As much as many people like to think we can beat these bad guys buying precious metals, some days I have my doubts. They are in control we are not. All the PM’s predictions in the past 5 years have been wrong. I don’t blame people for the way they are feeling. It’s not Eric Sprotts fault either, is it pumpers out there that pump the PM price on nothing but pure speculation. Or is it the Governments fault for putting us in this mess / situation? Or furthermore are we to blame for voting in the government? TPTB dictate for the time being, we are just trying to survive in this crazy world and trying to get some good information to help us get through it.

          That is where the confusion comes into play. What’s the right thing to do, the answer to that question, no one knows for certain. Where do you find information that is reliable? It’s not the MSM that’s for sure and it’s not in the Alt Media either. Somewhere in the middle. Many PM pumpers have made big bucks in the past 3 years giving their false predictions and I feel bad for the ones who fell into that trap and bought because of the fear porn they put out. Shame on them. I’ve been around for a while now and no one would have guessed that in 2015 the American dollar would still be the reserve currency. It was predicted a long time ago that it would not last but here we are. I feel bad for people who bought at high prices or people who bought because it was the right thing to do and now have to sell and lose money. It’s all a big game and a big gamble. We’re all trying to get through this with our minds intact and when people just blurt something out without having evidence and they are given a platform to do so, you would at least think they would be truthful or lose all credibility which many have. The internet is a great way to get information, it’s faster and it’s all at your finger tips. Be careful of the snake oil salesmen who pretend to be on your side. There are also many of them trolling the internet. Be careful who and what you believe.

          • Eric

            Actually Bob, I think we have a pretty good idea what is going to happen. As for the exact timing of it, that is another story. But years of research and paying close attention to the details helps one to understand the situation more than just guessing. I have said many times here that I do not guess. I do not hope. And I do NOT believe. I know.

            I would argue that “having faith” is exactly what it takes to keep your “money” within this fraudulent system. Gold and Silver has been money for 5000 years. And just because some bankers came along 100 years ago and continue to change and manipulate a financial system does not mean they stop being money. I do not care what the dollar price of PM’s will be in 5 or 20 years because I know they will be multiples higher than they are now. And in today’s world of investing and economics, everything makes perfect sense to me. What doesn’t make sense to you?

            Actually, I don’t think they are in control of much. They have been accustomed to fixing the price and they can manipulate the price. But they cannot fix or manipulate the price of real assets forever. With less than 5 tons available for delivery at the comex, and a metals exchange that only settles in paper, I don’t see how this will continue for years on end. I don’t recall anyone placing an exact date on those price predictions, but even if they did…did anyone who listened to them and ran out and bought lots of gold and silver bother to look at the fundamentals? Probably not.

            Where do you find information that is reliable? You think for yourself! It’s called common sense. Something that Americans are not used to having or using. I’ve been around for a while now too and as far as the “US dollar” (it’s not an American dollar) being a part of world currency reserves, I suspect it will continue as there are 10 times as many dollars out there than any other fiat currency. But as the largest debtor nation in the world, there will certainly be a lot of downside in purchasing power of the US dollar in the future. I bought some silver at $17 rode it up to $49, bought more, and have been buying it ever since. I do not feel bad for people who thought they were going to hit the jackpot buying silver. And I do not feel bad for people who run out and sell their metal because they fail to understand that they probably have boatloads of junk sitting around they could sell instead of the most valuable asset they own. They could always adjust their life and stop paying for non essential items like cable TV, newspaper subscriptions, eating out, christmas trees, and a million other things they don’t need that is not directly related to their survival.

            Sure there are snake oil salesmen. But Eric Sprott is not one of them. Nor am I. Nor is Sean. Nor are any of the other people who are willing to sell you silver and gold.

            If people would bother to read, study history a little, talk with those they don’t always agree with, ask well thought out questions, and THINK critically, they wouldn’t keep kicking themselves down.

            • Christine

              People confuse WHAT is going to happen with WHEN it is. I wouldn’t rush into calling anyone wrong for not having been able to predict how long gold and silver manipulation would go on. The worst mistake anyone can make is buy either and expect them to go up overnight and strike it rich in the blink of an eye. They are (and always have been) very long term investments. That’s also why gambling everything on them while leaving oneself’s no margin to operate isn’t smart either.

              Buy physical within your means, bury it somewhere and forget about it. Watching the price go up and down is the worst energy and hope sapper. Diversify, have enough cash on hand to function and don’t quit your day job while waiting for precious metals to go up. Just KNOW that they can only go up and relax. A few months ago, the yuan becoming part of the SDR was unthinkable and anyone mentioning it was considered a crackpot. And yet, it’s happening as we speak. Perspective is the name of the game.

              • I haven’t thought about precious metals as investments in years. Holding an ounce or 2 in your pocket at all times is a constant reminder of exactly WHAT money is. And I sure don’t think of it as gambling since it is HONEST money. If I want to gamble I’ll go to the casino (wall street). I just see it as getting easier to stack more ounces for less shekels. It just keeps going on sale all the time!

                • Christine

                  Well… If you buy and don’t spend something right away, whether intentional or not, it is an investment. I doubt that you are using any of your silver and gold to pay for anything. If it happens to improve in value, it’s a good investment. If it loses, it isn’t as good an investment but… if you have either and instead of losing 50% of their value, they only went down 20% by the time you actually need to use them, you preserved 30% value over what you would have, had you invested in fiat of stocks going down, down, down.

                  Either way, people have to make choice to preserve of build on what they have. That’s what investing is. Isn’t it?

                • Ed_B

                  Agreed on PMs not being investments so much as they are financial insurance against an “Oh, s**t!” moment that can come at any time, an inflation hedge, a savings plan, and a store of value. All of these benefits occur OVER TIME. None of them are immediate. This is not a quickie, wham, bam, see ya’, Ma’am” kind of thing. No, this is REAL… and real things take time to develop and mature… like a fine wine. Some treat PMs as if they were Jack’s beans that sprout to the skies within a day of being dropped onto the ground. REAL beans require much more time than that and a lot of care besides. In time, they produce food that can keep us alive and that’s a pretty good pay-off. But it doesn’t happen instantly and we should not expect it to.

                  Anything that has happened before CAN and probably will happen again. While this is not guaranteed, it is likely. In 1934, FDR devalued the US dollar by almost 70%. So, what does this mean? It means that anyone who saved US$ still had the same number of them but each one then bought almost 70% less goods and services. The effect is the same as having $10,000 saved and – POOF! Overnight it becomes a little over $3,000… in terms of what it can buy. With fiat currency, it’s ALL about what the stuff will buy, so Americans who turned in their gold got financially raped by the US Gov. Those who buried their gold maintained their purchasing power. This lesson SHOULD be crystal clear to anyone who reads even a little US history. If it is not, then it is likely to be repeated at some point, much to the cost of those left holding the bag (US$) rather than gold or silver. The choice is ours but I advise one and all to choose carefully. Please note that this is not an either / or choice. It is not only possible but highly advisable to have some fiat for spending and some PMs for saving. Given a choice, always spend the fiat and save the hard money. Gold and silver will get us through times of little to no fiat a helluva lot better than fiat will get us through times of little to no gold or silver. History shows this and it is wise to pay attention to the lessons that others have already paid a very high price to learn, rather than paying for them again and again.

                • Eric

                  Not for me Christine. After 6 years of stacking, the 3 Krugerrands and 1 Silver Eagle can be easily exchanged at the we buy gold store down the street or any number of other gold stores so i can go buy groceries. I can exchange the silver for goods down the street at the market because I know the owner. And I can carry it around in my pocket so it is portable. In other words, it is money. Not an investment. I will probably be taking a loss in terms of dollars since I bought these 4 coins at higher prices. But I have plenty of others. Perhaps those will be considered “investments” since some are part of my core holding. But I never plan to sell those.

                  It really takes a change in consciousness. Money should be “weights and measures.” NOT US DOLLARS!

          • Mike from the North

            History tells us volumes.
            Common sense tells us a great deal.
            Individuals like Mr. Eric Sprott are good enough to share their wealth of knowledge.

            The rest is up to us and we are responsible for the decisions we make.

            I have never regretted my decision to buy physical and I would not regret it even if the price dropped another 25%.

            Reason is..that I know I bought for sound principles of money and that should be enough to make sure I eventually benefit from the decision.

      • Rdawg

        @Beligarant, that might be the problem; you identify as a PM “investor”. PMs are insurance against financial catastrophe. Investing is a completely different animal. If you want to invest in PMs, go trade the ETFs.

        • Millicent

          What if there has already been a “financial catastrophe” and no one realizes it?

          Not to worry, we’re “forming a bottom” here so just bend over and let yours keep getting reamed by the “experts”.

          When anyone dares to question the “all in” strategy on PM’s the diehard cheerleaders here all pile on and chastise them for being ignorant, stupid or out of touch.

          These are times when all people need to do some soul-searching and come to grips with reality. There are a lot of people out their telling others what to do but you alone must decide…

          As you make your bed, so must you lie in it.
          Prov. You have to suffer the consequences of what you do. (Often used as a rebuke.) Tom insisted on taking a trip to Florida in August, after we all told him how hot it was then. Now that he’s there, all he does is complain about the heat. As you make your bed, so you must lie upon it. You were the one who chose these house painters because they were cheap. I told you they’d do a terrible job. As you make your bed, so must you lie in it.

          • Ed_B

            “When anyone dares to question the “all in” strategy on PM’s the diehard cheerleaders here all pile on and chastise them for being ignorant, stupid or out of touch.”

            No one who understands personal finance believes in any “all in” strategy… ever. Believing in such a flawed strategy is tantamount to saying “I am right about this and it is not possible that I could ever be wrong”. This is the height of hubris, IMO, and fate absolutely hates those who have this particular character flaw. In fact, fate will do all in its considerable power to ensure their downfall. I have seen this happen over and over. It is no “accident”.

            A wise money manager knows that diversification and asset allocation are two very powerful tools that anyone can use… even us small-fry investors. The 3rd super-tool in this set is also powerful and it is called Dollar Cost Averaging. By using these 3 tools as well as some common sense, most people can become financially successful over time. I know because I am one of them. This is not a fluke. Anyone who wants to do this can do it but it requires effort, discipline, and more than a bit of courage.

            Standing fast while others are in full-throated screaming panic mode will be required. This is not easy to do, yet it must be done if one is to succeed. I saw many people cash out their life savings / IRAs / 401Ks, etc. at the very bottom of both the 2001 bear and the 2008 ferocious bear markets. In both cases, I had losses well over $200k from my 401K plan, which was the bulk of my wealth at the time. By holding fast, every bit of that money returned to my account within 12-18 months of its “loss”. During that time, I observed many people bailing out. All that they succeeded in doing was locking in their losses and making them either permanent or making them very difficult to recover. Either way, they lost and lost big. I lost too but that was temporary… nasty at the time? You bet! But nothing that could not be recovered. Most of those who bailed at or near the bottoms in early 2002 or early 2009 never recovered and were financially ruined for life. That made me sad because many of them were good people who did not deserve what happened to them. But they also played a part in it that they did not have to play. They chose to play it and they chose… poorly.

          • Rdawg

            Talk about strawman arguments.

            1) I never said shit about going “all in”.
            2) I never said anybody was stupid, ignorant or out of touch.
            3) I never said PMs were “forming a bottom”.

            I could on, but you get the idea.

            I like the bit about “what if there’s already been a financial catastrophe and no one realizes it?” Sort of like one of those Zen riddles. Yeah Millicent, it already happened and none of us noticed. Thanks for playing.

  • Eric

    Did anyone here even listen to this interview?

    My favorite part: “Why would anyone want their money in a bank?” -Eric Sprott

    Well? Are you ready to pay Citibank to hold your shekels?

    My question is what are you going to use as money to acquire goods and services when the US dollar goes bye bye?

    • SGT

      Eric, no, probably not. I gave em the quote to bitch about in the write-up above (which I have since edited).
      “Hang in there”.

      • Eric

        You know I’m hangin in there. This is taking candy from bankers for me. Just like when I grab a handful of dum dums when i have to go into wells fargo. Some day I’ll make a video of that and send it to you.

        I still stand by what Jim Willie said. The dollar will rise and rise and rise and rise and rise some more. And then die. We are definitely getting closer.

        Honestly I think Gold could go lower from here based on Iran selling oil to market in January (500,000 bpd) and March (1 million bpd) which will cause the dollar to rise more. But one of these days, after everyone has capitulated and thrown in the towel… Bang zoom! Sounds like we’re getting closer according to these guys.

        • SGT

          what really gets me is world class pricks like Jeffrey Christian get to smugly claim they “were right all along” when they are on the inside of the fix and privy to the cartel playbook – while the good guys on the outside who do their best to piss in the wind have to endure the criticism and contempt of readers here. You gotta love this criminal system. Good guys get slaughtered (including readers here) while criminals flourish. This current paradigm really is a good example of “hell” on earth.

          • Eric

            Maybe that’s why silver is “the devil’s metal.” I still like it.

            I took out an ASE in a capsule with the black ring today and looked at it and thought, would I trade this for a $20 FRN? NO way! Would I trade it for a $50 FRN? Maybe if I really needed to buy groceries. But I was thinking it looks more like it’s worth $150 FRN.

            What was Jeffrey Christian right about?

            “Don’t gain the world and lose your soul; wisdom is better than silver or gold” -Bob Marley

          • AgShaman

            Hell on earth is a relative function of the world being built up around us.

            Humans are being programmed to worry about what other soylents think of them….that is the only hell we are tricked into buying

            The truth is….most of society has fallen prey to that nasty soul sucking syndrome (NPD) that forces soylents into worrying what the other 99% of nunces on this planet think about them.

            There is an ocean of old-timers….that are ash and dust now. I think they would share a beer with me, and tell me I was playing it smart by having gold, silver, and a little cash in my sock drawer….some food stores and preps.

            Savers have always been the target of the fiat empire….and as a stacker, you will always be somebody that must be derided and destroyed.

            When you exchange your paper chits for tangible elements….you cast your vote of no confidence in the sham that is our modern system of finance being hip attached to govts and their despotic and deceptive tactics.

            If somebody does not make a stand now…..

            I think you know the rest of the story that will unfold

            • lastmanstanding

              Ag…Many have no clue that if your paper shit is always in play, they will steal it.

              Guys/gals…you believe in real, earthly (provided from the earth) things or you don’t. That is what has kept people alive for 1000’s of years.

              Not your iphone 6, your 100″ flat screen, taking a vacation to Europe, a $50k vehicle, etc.

              Shelter, food, water, protection, a trade of value to others, a few good friends and family.

              “don’t go down without one helluva fight”

    • Ed_B

      “Did anyone here even listen to this interview?”

      Oh, heck yeah! 😀

      “Well? Are you ready to pay Citibank to hold your shekels?”

      No, I am not. In fact, I strongly question the wisdom of leaving ANY asset within arm’s reach of ANY of the big NYC banks. Thar be thieves on board those vessels! :-/

      Remember: these are the same people who have changed the law to allow bail-ins, who consider depositors as “unsecured creditors”, as if our money has NO value whatever, and who treat every cent that comes into their banks as THEIRS until a court says that it is not. Unfortunately, they own the courts AND the Just US Dept., so the odds of getting our money back from these thieves seems remote at best. Why give them the chance to screw us? History shows that they have no resistance to that impulse.

  • Eric

    “If you don’t trust gold, do you trust the logic of taking a beautiful pine tree, worth about $4,000 – $5,000, cutting it up, turning it into pulp and then paper, putting some ink on it and then calling it one billion dollars?”

    Kenneth J. Gerbino

    • Ed_B

      I get the sentiment but… pine and other coniferous trees make lousy paper. They contain far too many terpines and way too much sap that tends to gum up the cellulose fibers. Much better would be alder, maple, and other deciduous trees.

      • Eric

        you’re such a stickler Ed. But I’m glad you take everything literally.

        I believe it is actually a cotton/linen mix. But it still sucks. I’ll take the metal instead.

        • Ed_B

          Agreed… stickling is what I do. 😉

          Yes, money is printed on something that is more closely related to cloth than to paper.

          Agree 100% that it SUCKS… BIG-TIME!

          I too will take metal… and have!

  • Eric

    “But markets aren’t always smooth, and the gold market isn’t smooth, so it goes up, it might go up too much, and at times too fast and then it makes a correction because the traders are in there and they have all kinds of motivation. If people look at it long-term, you know, from when the Fed started when it was $20 an ounce up to the time it went up $1,900 an ounce, you know, that’s more of the trend.”

    -Ron Paul

  • glitter 1

    I’ve been scaling back on my comments here as of late,but this subject really lites me up a bit.Where were these same whiners for 15 years during which time the Nasdaq went down and absolutely NOWHERE!It’s at the same place it was in 2000!That’s 15 years that it hasn’t done anything and if you add for inflation,it has still lost value.So,the Dow & S&P are up a little,but didn’t move(recoup losses)until 2013/14.Most people jump on the band wagon late,usually during the latter stages of a bull market then ride it all the way down and sell at the low.Just as Eric Sprott,most of my bullion gold and silver coins were purchased at <$600oz and <$10oz,which is still looking ok to me.Yeah,I'm not happy gold and silver are where they currently are,but it won't stay this way forever,it's just a waiting game.
    Anyone who thinks the stock market(s) along with G&S will continue going in the same direction indefinitely are really gullible/naive/ignorant or a combination of all.I'm just looking forward to the time when the turn comes and all those G&S professionals,who announced and guided many to/thru the PM Bull Market for 13 years and are now being labeled/referred to as liars/charlatans/con men/PM Pimpers etc.will once again be venerated.
    Given world events and their direction I doubt we will have long to wait and all of the negative commentary about gold and silver will all but disappear and they will look stupid again.

    • lastmanstanding

      I’m with you Glitter…funny how everything of real value just isn’t worth a flying f these days!!!

      Only reason gas is cheap is because it creates calm…that will be short lived.

      • Yeah you don’t see a lot of sheep complaining about the price of gasoline going down at the pump. But I bet they will complain a lot when it goes way back up. Funny how they complain about metal prices going down, but not when they go up.

        I’ve said it before and I’ll say it again…

        We are surrounded by morons and assholes!

        • Ed_B

          “We are surrounded by morons and assholes!”

          Careful, there, Eric. The ONLY way to be “surrounded by an a$$hole” is to be a POS. 😉

          No, people do not complain when what they own rises in value but they do complain, sometimes bitterly, about falling prices. If they would realize that a period of time when prices are low is a time of acquisition and when prices are up is a time for selling what has risen in price. This is not rocket science, folks. This is intuitive.

          • Buy low. Sell High. Makes sense. Makes common sense. Time is relative.

            • Millicent

              Until you run out of it…

            • Ed_B

              Buying low and selling high is a great way to become a financial success. Problem is, it isn’t always clear when something is cheap and we should buy it or expensive and we should sell it. Worse yet, sometimes we have to buy high so we can sell even higher!

              Right now, it is pretty clear that PMs are cheap compared to where they have been in the past. This doesn’t mean that they can’t or won’t get even cheaper, though. My solution for this is to dollar cost average by buying PMs slowly over time. When prices dip, I buy a little more. When they rise, I buy a little less. But I am always buying some, usually on a quarterly basis. Last buy was in early Nov, so I am watching and waiting for a bit before making another buy. If silver dips below $14, I will probably buy a little more. Same for gold and the $1050 price.

              I also looked at buying some Pt recently as it is quite cheap on a historic basis. But the premiums are outrageous. $100 an oz. premium on Canadian Pt Maples? Ouch!

    • AgShaman

      I was busy trying to forget about getting destroyed by the Nasdaq bubble….

      Thanks for the reminder

  • chris

    What I see in some of the above comments is frustration. I understand it to a degree. I bought at high prices and have heard all of the talk that it will be okay. The difference for me is, that while it hurts, I’m not in it for the short haul. I’m it it for as long as it takes… and if it’s another thirty years and I’m already gone? Well, my daughter and the children she will hopefully have, will have something to fall back on. It’s not about being rich or getting rich. It’s about knowing that there is a point where we’ll need it.

    • Goldbug

      I agree; most of the negative comments reflect frustration more than anything else. I find myself feeling the same way at times. But then I consider the facts: that all mints are again setting records for bullion coin demand (the US Mint even sold out of gold eagles this year); the $19 trillion debt; US unfunded liabilities many multiples higher; the federal government continues to run $500 billion + budget defecits every year with no end in sight; the $1 trillion student loan bubble that continues to grow; the fact that interest rates cannot be allowed to increase given that interest payments on public and private debt becomes unserviceable; the US has very little manufacturing to speak of; state and local governments teetering on the edge of bankruptcy; and much more. When you consider these facts, it’s hard to imagine that the federal reserve note, which is backed only by the “full faith and credit” of the US government will be around in 10 years. And it’s harder still to imagine why it’s value is decreasing. When I consider this, I rest easier knowing that I have an asset that has been recognized as a store of wealth since long before my time.

    • glitter 1


    • lastmanstanding

      Frankly Chris, many of us have no where else to go.

      The kind of money that my wife and I have to send off to a “broker” is freaking laughable…even over a long period of time…and we tried it.

      When these markets go tits up, people like us are so far down the list that we don’t even warrant a phone call from “the broker”. Even if its a friend. It’s days later after your hard earned money is stolen by some other bastard that was tipped off or got the call as the ball was beginning to roll down hill. “sorry, things like this are uncontrollable they say”…Why don’t they be honest and at least say, “hey, I had 500 other clients with way more money than you and they were more important at the time.” lol!

      I know people who have incredible amounts of money (and are not selfish with it) and even they end up taking a 30-40% or more haircut.

      We decide to take a route that we have control over.

      • Ed_B

        Using stop loss orders will prevent almost all 30-40% haircuts in the future. I could not use these in my 401K plan at work, so got hit pretty good in 2001. Mutual funds cannot use orders of this type because they only trade once a day but ETFs and individual stocks can because they trade all day long. I mostly use Vanguard ETFs because there is no additional cost to buy and sell them and they have enough of a selection to cover my investing needs.

        • lastmanstanding

          That is probably what happened to them as well Ed…I know people that just feed that 401 shit like there is no tomorrow.

          Smart people that really get it, but just can’t get out of a financial system that is robbing them because it has provided them…even with the occasional massive set back.

          How’s that for a f’d up statement.

    • Ed_B

      “It’s not about being rich or getting rich. It’s about knowing that there is a point where we’ll need it.”

      Exactly right, Chris. A stash of silver and perhaps some gold as well could easily be the difference between living and living well… or at all, if times get really bad. PMs are a great case for the expression “It is better to have and not need than to need and not have”. My stack is decent but it is primarily for my kids and grand kids. I do not know when it will be of use to them but I am certain that it will be of great use at some point in time. This is likely to occur after I am gone and unable to assist them, so I do all I can while I can.

  • Allender

    WHINING…wow, so many voices of so much ignorance.

    The “price” of monetary metals is determined by paper.

    The biggest threat to paper wealth is actual “money”.

    The ultimate thing protecting paper wealth is the ignorance displayed in most of the comments above.

  • Greg

    Generally speaking the people who are complaining and blaming the gurus should blame their own greed. They put too much money into it thinking they would be rich soon. For guys like me, I buy every now and then and have been buying since 2010. My finances are still in order and I am standing firm with my stack. Real men don’t complain and blame others. Make a commitment and stand firm.

    • Beligarant

      @Greg : OMG!! You people either have no shame or no memory. I don’t know which?! Go back and watch some of these interviews posted on this and similar sites back to 2010. They were SCREAMING and YELLIN’ the dollar was going to collapse and we were going to experience hyperinflation and bank holidays. I wouldn’t call buying silver when told that scenario as GREED. I would call that trying to protect yourself but now people like you state everyone that bought silver when it was $25 and $40 an ounce was just greedy. Wow!! No that’s absolutely 100% wrong response and statement. These same people told us bank holidays, 40% devaluation in the dollar, hyperinflation, be ready to barter, ATM’s shut down, credit card system shut down…. Now we’re supposed to line up like good brain washed sheeple with a memory that is 2 months long and believe them? No way, these people were wrong, wrong, wrong!! Call me any name you want but it doesn’t change the fact these people were wrong or lied for the past 5 years. Take your pick.

      • Mike from the North

        The message of holding PMs is still very valid.

        The fact that many of the people that made the recommendation to buy PMs were wrong on the timing of a financial reset, is the result that nobody had a clue to what extremes the powers to be would go to control the timing of the crash.

        So what has changed. The level of the debt has increased substantially.
        The economy is even more weak because we have entered the WINTER cycle of life.

        The numbers are just not there to support growth.

        With no growth comes a downward slide.

        Fiat currencies have already surpassed their normal life cycle time frame and as a result holding any asset denominated in fiat currencies is risky.

        The anger should not be directed at the likes of Eric Sprott it should be directed to the banksters that have fleeced society for 100 years.

        • Millicent

          “No man knows the day nor the hour…”

        • Millicent

          “The anger should not be directed at the likes of Eric Sprott…”

          I’m not angry at ES or “bashing” him, as others claim, I merely pointed out that he and his cohorts have been wrong about PM prices over an extended period of time.

          Don’t worry, “just hang in there” and everything will be fine… someday.

      • Greg

        “but now people like you state everyone that bought silver when it was $25 and $40 an ounce was just greedy.”

        No I didn’t say that. I said if you put too much money into it. I bought from $25-$45 as well, but I didn’t cash out my 401k and go all in. I knew it was important to obtain gold/silver, but I wasn’t going to rush in and buy up as much as I could. If you believed in the doomsday scenario and went all out in order to protect yourself, that’s panic buying out of fear. Learn from it and never do it again.

    • Ed_B

      Agreed @Greg. I am in the same boat as you and am not whining about it. My DCA cost of silver is around $21 now, thanks to the low price of silver these days. Yes, I bought some at $33 and even $37 but I refused to buy above $40 an oz. I saved up fiat and then started buying again when prices fell. I buy about every 3-4 months. I buy more these days than I did when prices were above $30 an oz. I also buy gold now as well.

      Like you, I did all this because I do not consider the fiat / debt paradigm to be sustainable. It WILL collapse at some point because it MUST collapse. This is not politics but math, a subject with which I have more than a passing acquaintance. Each year it becomes more unbalanced and prone to shaking itself apart. When this will occur in a sufficiently plain manner that even the sheeple begin to get it is not known but I do think that it will happen. Because of this, I buy insurance against financial collapse and I buy it regularly in small amounts. Is this the best possible strategy? Maybe, maybe not. But without knowing what the future holds and when it will arrive, this is the best strategy I can devise. I also have money invested in many other things that have paid rather well for the past 6 years, much more than making up for the temporary losses in my PM holdings.

  • Gnostic

    I lost a few inches around my waist over the past few years, my old pants don’t fit but I look good & I’m healthier, I defy anyone to say I am not.

  • NIX

    @ Eric Sprott,

    Thank you sir for the work you have done for all these years. Some of us have studied history and have the courrage to stick by their own principal. REAL MEN do not cry when it doesen’t go their way and specially if they still have the gift that few have ( responsability). This word is as rare as silver in a nanny socialist cry babe world. I too took a big hit but assumed what i did knowing the end game, even then there is no guaranty. I salute you sir going against the tide and hope for a better world before getting rewarded if so.


  • Millicent

    Two quotes from “The Duke” (John Wayne) in a couple of his many Western Movies.

    “Life is tough… it’s tougher when you’re stupid”.

    “If you’re gonna be stupid then you better be tough”.

  • Woodchuck

    It seems some have slip back into the Normalcy Bias after realizing temporary awareness. TPTB have done their job with market, PMs manipulation and creative fiscal voodoo. If you live in most any other country were your PMs were purchased with the respective currency you would be a happy camper right now. This is a pseudo strong Dollar issue.

  • Hugo

    Good interview and quite a few greedy people around. One extra argument pro PM I would like to make. A reason to buy PM that gets mentioned way to few times in my opinion. A big part of the reason for me buying PM is that way you withdraw your financial support for the current system. The system we all (should) know is pure evil. If you look well there is a new monetary system waiting in the shadows once the Dollar goes the way of the Dodo. Gold is part of it but not in the classical gold standard way. Thats another part of the reason why I buy PM. Ofcourse I talk physical only.

    Regards, Hugo

  • Petedivine

    So what comes next? In my opinion the Dollar will continue to lose value, but remain the primary currency, even when PMs can no longer be manipulated. I have not seen any indications of a replacement reserve currency. I’ve heard the arguments around the Yuan, but don’t understand how a nation with so much misallocated investment such as ghost cities, rampant fraud, human rights abuses, uncontrollable pollution, and roads to no-where can obtain the mantle of global leadership.

    I think if we understand the end game then we can work our way backwards to the present moment. Today, all I know is that the global situation appears to be deteriorating across the board and that PMs are fungible, portable, last forever, and have held value for several millennia. The markets on the other hand are manipulated by algos gaming the system, markets are a scheme to support boomers in their retirement. A greater fool must buy the asset sold by a pension or boomer to fund their retirement. Due to generational income inequality the system is unsustainable in the long term. Just look at all the pension, personal, and government debt issues. If the markets decline substantially then the boomers go bust and the debt crushes corporations, governments, and millions of debtors. The republic could well be lost.

    Does anyone have a different perspective? I’d like to hear anything grounded in reality. Preferably one more cheerful then my own big picture.

  • Eric

    That’s because China has 30,000 tons of Gold. Okay, maybe it’s only 20,000 tons. We’ll never know probably but it’s significantly more than what the US has which is nothing. Are you aware that the Yuan was just included in the SDR and there have been reminbi trading hubs set up all over the west?

    Since Iran will be selling half a million barrels of oil to market in January, and another half a million in March so 1 million barrels per day, I am expecting another leg down in the metals prices. Which will bring it to around or below $1000/oz. Premiums may change so the price you pay may not change much. But Marin Katusa has said he sees another leg down in the resource sector lead by oil. And Jim Willie is expecting $30/barrel oil.

    I don’t see China producing a leader like Russia is currently. But it seems more like an evening out process.

    I wish I had a rosier picture but the people are so oblivious. This will be a tough road.

    All wars are bankster wars.

    • petedivine

      Yes..I saw the Yuan inclusion into the SDR. I’ve noted that China created the AIIB as an IMF alternative. I’ve noted all the swap agreements between China and the various nations. I’ve seen their relationship with energy producing nations such as Russia and Iran solidify. What I don’t see why the world would transition from the Dollar to the Yuan when the Chinese have huge workfare projects such the ghost cities, the Chinese have rampant fraud within their markets, the level of pollution by air, land, and sea is beyond description, and their human rights / corporate rights record is abysmal example Google. By the way, the Chinese also have more collective debt then the U.S. does. How can the world move from a dying U.S. led coalition to an equally distasteful Chinese led one? The Chinese have Gold and manufacturing clout. That is true, but the world of manufacturing is changing. Robots and 3D printers mean that the traditional manufacturing model can be and at some point will be less concentrated. I think the Chinese ascendancy is still very much in question. All I really know is that Gold will be part of their claim for legitimacy.

      • Eric

        One word… Debt! I don’t know where you think the chinese have more collective debt than the US does. Are you including future liabilities like social security and medicare?

        Not to mention the aggressive nature of the US government.

        Currency Reserves are not just dollars. They can be a combination of dollars, euros, Pound sterling, yen, Canadian dollar, Austrailian Dollar, Swiss Francs or other currencies. They tend to change from year to year.

        There will always be dollars and there will always be yuan. I’m not so sure about euros. I think the breakup of the european union will probably happen at some point. At least I hope so.

        And China has more Gold than anyone. So we assume.

        They also have all the manufacturing, and are cleaning up their environment.

        There is nothing perfect about fiat currency and Gold is far superior. But I think it is a move to even out the playing field. People will still use the dollar as long as they are willing to trade with the US. But they don’t like the aggressive nature of total dominance that comes with the NWO plan either.

        It will all work out. One way or another. Gold is definitely the future.

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