Eric Sprott : I still believe that an investment in Silver is a very safe investment today , when we look at the data points they scream at us that it is extremely under valued , when we look at the history of what happened in both silver and gold markets I happen to believe in what GATA believe that there is these hands from the outside keeping things restricted and they are going to lose control , so people have to be in precious metals if they want to protect themselves , there are not many other investments that you can consider like agricultural investments
Eric Sprott : I am very optimistic about silver for a number of reasons , we have this very short position in silver and I am sure it will resolve to the upside , when I look at the sales of silver versus gold , US mint sells more dollars of silver than gold , the Canadian mint sells about a dollar and half of gold to a dollar of silver Goldmoney sells more dollars of silver than Gold Sprott Money does the same thing , people cannot continue to buy at one to one ratio and the prices are 40 to one it sure is going to resolve to the upside , the paper shorts already got seriously burnt they will go the way of fiat currency ..... Gold was the investment of the last decade and silver will be the investment of this decade , and I do believe in the thesis that silver will get back to a 16 to 1 ratio to Gold , so Gold is over $1600 , so theoretically Silver can be a 100 dollars , I see the buying coming in to one to one I see the supply of Gold above ground is approximately a hundred tims greater than silver but the buying is one to one so something got to give somewhere .... you just see things developing in the market that could make it explode at any moment in time , I'd say 3 to 5 years for sure it will trade 16 to one , it could go parabolic at any moment , and we have a financial system at the edge of a cliff here so , all I know is that you can safely own it go to sleep at night you will be a winner at the end of a certain time , you will be a big winner at the end of that time period MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Showing posts with label Eric Sprott. Show all posts
Showing posts with label Eric Sprott. Show all posts
Tuesday, August 9, 2011
Friday, August 5, 2011
Eric Sprott : Silver price could explode to the upside at anytime
Eric Sprott : I am very optimistic about silver for a number of reasons , we have this very short position in silver and I am sure it will resolve to the upside , when I look at the sales of silver versus gold , US mint sells more dollars of silver than gold , the Canadian mint sells about a dollar and half of gold to a dollar of silver Goldmoney sells more dollars of silver than Gold Sprott Money does the same thing , people cannot continue to buy at one to one ratio and the prices are 40 to one it sure is going to resolve to the upside , the paper shorts already got seriously burnt they will go the way of fiat currency .....
Gold was the investment of the last decade and silver will be the investment of this decade , and I do believe in the thesis that silver will get back to a 16 to 1 ratio to Gold , so Gold is over $1600 , so theoretically Silver can be a 100 dollars , I see the buying coming in to one to one I see the supply of Gold above ground is approximately a hundred tims greater than silver but the buying is one to one so something got to give somewhere ....
you just see things developing in the market that could make it explode at any moment in time , I'd say 3 to 5 years for sure it will trade 16 to one , it could go parabolic at any moment , and we have a financial system at the edge of a cliff here so , all I know is that you can safely own it go to sleep at night you will be a winner at the end of a certain time , you will be a big winner at the end of that time period
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Gold was the investment of the last decade and silver will be the investment of this decade , and I do believe in the thesis that silver will get back to a 16 to 1 ratio to Gold , so Gold is over $1600 , so theoretically Silver can be a 100 dollars , I see the buying coming in to one to one I see the supply of Gold above ground is approximately a hundred tims greater than silver but the buying is one to one so something got to give somewhere ....
you just see things developing in the market that could make it explode at any moment in time , I'd say 3 to 5 years for sure it will trade 16 to one , it could go parabolic at any moment , and we have a financial system at the edge of a cliff here so , all I know is that you can safely own it go to sleep at night you will be a winner at the end of a certain time , you will be a big winner at the end of that time period
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Eric Sprott : Silver can be at $100/oz
Eric Sprott : Gold was the investment of the last decade and silver will be the investment of this decade , and I do believe in the thesis that silver will get back to a 16 to 1 ratio to Gold , so Gold is over $1600 , so theoretically Silver can be a 100 dollars , I see the buying coming in to one to one I see the supply of Gold above ground is approximately a hundred tims greater than silver but the buying is one to one so something got to give somewhere ....
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Thursday, July 28, 2011
Eric Sprott : we are in a global secular bear market for most assets classes
Eric Sprott : Sure. Well I do think we are still in the secular bear market and basically what people describe with the phrase “extend and pretend”. And we had the zero interest rate policy, the housing boom, the lending boom, TARP and TALF and all those things which try to delay what naturally should happen. When I look at the headwinds for gold and silver, I really believe that we have been aided and abetted by a lot of these policies, particularly QE1 and QE2 and the various printing mechanisms of the ECB and the Japanese government and almost all governments in the world. So as much as I would not have anticipated those types of developments happening, they have happened and they provide an even stronger headwind for people realizing that currencies are not going to survive and to maintain your purchasing power you have to own precious metals.- in a recent interview with Chris Martenson
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Wednesday, July 27, 2011
Eric Sprott : Silver is Set to Explode
Eric Sprott, Financial Sense NewsHour 27 July 2011
Eric Sprott : up to the point where silver got close to 50 dollars the amount of trading in silver through investment vehicles was approaching 800 million ounces a day , and when you realize that the amount of silver available in the year is 900 million ounces you can see that how ridiculous it is we would trade that and who was trading it because obviously they have no investment interest in physical silver ....I do not think that it was the speculators that were driving up i think it is the people who were short that were caught that were losing gigantic amount of money and therefore they initiated the attack on May first .MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Saturday, July 23, 2011
Eric Sprott : The common man buys Silver
Eric Sprott : The common man buys Silver . Every fiat currency since the Roman empire has ended in disaster...I would rather be in silver because silver is the one basing here but gold still works.
actually when you think about it..silver really isn't that volatile....it's only volatile because it cost less so when it increases or decreases the chart seems to move more but with gold since it's at $1600 an oz when it decreases by 30 bucks you don't really see the chart move that much. The way I see it silver is not more volatile than gold, it's the increments that's making it look volatile.Gold is a long term investment, 5-10 years before you sell. Silver is a short term play 4-6 months and also a long term investment. Silver rises and drops to fast and to soon to mess with unless you know what's you are doing , it is a roller-coaster and it could give you headaches . I say invest in silver if you want a boost in some small income. Invest in gold and silver if you want more money over TIME. As gold goes up more of the sheeple will want to buy in causing a bubble. My theory is similar as more people buy & the prices goes up quickly the Central Banks, who own gobs, will release enough to cause a sharp enough drop to cause panic and then buy it all back on the cheap.
A big part of the value of gold is the perceived rarity, historically true but more and more is found and mined every year. Little is used industrially Not the same for Ag.If Euro fall it will efect the Euro market throughout the world, as well china's market will have a greate impact and that goes for India and other countries, it will be a domino effect, and that's how USA will go. It will take in my opinion 3 to 4 weeks till the US falls after Europe. If 1 country falls in Euro, the banks will try to save there asses and from there on everything will accelerate The scenario I described is not what I would consider an orchestrated plan. It's more like what the probable strategy would be if using gold as money starts being more common but could also work if sheeple start showing signs of consciousness and they want' to demoralize them. Most will flock to gold at first. Silver still suffers from the idea it's a second class product. Gold benefits from the idea that it's still rare, it's really becoming more common.Silver ftw, plus for bartering reasons also id rather have 43 pieces of money than 1 Unless your rich then invest in everything. Any precious metal is better than paper . Its going to be a smooth ride for gold but much more gentle incline, but a rough ride for silver but so long as silver demand outstrips supply and supply can only diminish ,take the bumpy ride because once you look back at the rise in silver you,ll soon forget how you got there.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
actually when you think about it..silver really isn't that volatile....it's only volatile because it cost less so when it increases or decreases the chart seems to move more but with gold since it's at $1600 an oz when it decreases by 30 bucks you don't really see the chart move that much. The way I see it silver is not more volatile than gold, it's the increments that's making it look volatile.Gold is a long term investment, 5-10 years before you sell. Silver is a short term play 4-6 months and also a long term investment. Silver rises and drops to fast and to soon to mess with unless you know what's you are doing , it is a roller-coaster and it could give you headaches . I say invest in silver if you want a boost in some small income. Invest in gold and silver if you want more money over TIME. As gold goes up more of the sheeple will want to buy in causing a bubble. My theory is similar as more people buy & the prices goes up quickly the Central Banks, who own gobs, will release enough to cause a sharp enough drop to cause panic and then buy it all back on the cheap.
A big part of the value of gold is the perceived rarity, historically true but more and more is found and mined every year. Little is used industrially Not the same for Ag.If Euro fall it will efect the Euro market throughout the world, as well china's market will have a greate impact and that goes for India and other countries, it will be a domino effect, and that's how USA will go. It will take in my opinion 3 to 4 weeks till the US falls after Europe. If 1 country falls in Euro, the banks will try to save there asses and from there on everything will accelerate The scenario I described is not what I would consider an orchestrated plan. It's more like what the probable strategy would be if using gold as money starts being more common but could also work if sheeple start showing signs of consciousness and they want' to demoralize them. Most will flock to gold at first. Silver still suffers from the idea it's a second class product. Gold benefits from the idea that it's still rare, it's really becoming more common.Silver ftw, plus for bartering reasons also id rather have 43 pieces of money than 1 Unless your rich then invest in everything. Any precious metal is better than paper . Its going to be a smooth ride for gold but much more gentle incline, but a rough ride for silver but so long as silver demand outstrips supply and supply can only diminish ,take the bumpy ride because once you look back at the rise in silver you,ll soon forget how you got there.
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Thursday, July 14, 2011
Eric Sprott : SILVER TO GO SUPERNOVA, PAPER MARKETS ARE A JOKE!
Eric Sprott : "I think that the prices will continue higher. I mean the amount of money printing is unbelievable. I just think you have to take that initial stand in terms of buying it. I use the James Turk analogy: just keep dollar averaging. We have gone up eleven years in a row, this year it looks like it will be no exception; I would certainly think next year will be no exception. If we ever have QE3 announced, I think gold and silver will just go absolutely bonkers here. And so I just think you have got to step in there and own it; we’ve had these fears all the way along. You know, $400, and $500 and $700 and $800 dollar gold, everyone was afraid it was a one-time thing. I don’t think it is a one-time thing, I think it is a secular thing. It’s going to carry on for quite a while here until we find some resolution of these problems. And the resolution probably will be some form of default where people just have to expunge debts that cannot be repaid. So, you have got to be in some asset which will not be affected by that."
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Wednesday, May 25, 2011
Eric Sprott , we could see silver at $250/oz
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Sunday, May 22, 2011
Eric Sprott : Silver to outshine gold over the coming years
In a recent interview with BNN canada Eric Sprott Chairman, CEO & Portfolio Manager of Toronto based Sprott Asset Management said : “Silver will be the investment of the decade.” “I think that silver could easily get to $50 this year,”
“If the price of silver continues to go up, silver stocks are going to perform even better,” “China’s net imports of silver were 112 million ounces last year. In 2005, they were net exporters of 100 million ounces,” he says.
“That’s a 200 million ounce shift in an 800 million ounce annual market that seldom ever grows because production hardly ever goes up. So where’s it all going to come from? We don’t know.”“Silver is the poor man’s gold. Gold has had a great run for the past 11 years. But I absolutely believe that silver will outperform gold this year. Currently, there’s more investment dollars going into silver than into gold.”
“It’s the easiest call of all time.”
“Silver as a currency always traded in a ratio of around 16 to 1 compared to gold, when it was a currency in the U.S. and the U.K. The current ratio is 48 to 1. If we go back to a 16 to 1 ratio, the implied price for silver would be $85.62 (per ounce).” he adds.“On that basis, if gold goes to $1,600, then that would value silver at $100. And we certainly think that gold is going to $1,600. In fact, I’m willing to bet that this ratio will overshoot on the downside. It might even get to 10 to one.” Eric Sprott explains that the only reason why the silver is still trading at a ratio of 48 to one to gold is because of the market manipulation by some big banks that are naked shorting silver
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
“If the price of silver continues to go up, silver stocks are going to perform even better,” “China’s net imports of silver were 112 million ounces last year. In 2005, they were net exporters of 100 million ounces,” he says. “That’s a 200 million ounce shift in an 800 million ounce annual market that seldom ever grows because production hardly ever goes up. So where’s it all going to come from? We don’t know.”“Silver is the poor man’s gold. Gold has had a great run for the past 11 years. But I absolutely believe that silver will outperform gold this year. Currently, there’s more investment dollars going into silver than into gold.”
“It’s the easiest call of all time.”
“Silver as a currency always traded in a ratio of around 16 to 1 compared to gold, when it was a currency in the U.S. and the U.K. The current ratio is 48 to 1. If we go back to a 16 to 1 ratio, the implied price for silver would be $85.62 (per ounce).” he adds.“On that basis, if gold goes to $1,600, then that would value silver at $100. And we certainly think that gold is going to $1,600. In fact, I’m willing to bet that this ratio will overshoot on the downside. It might even get to 10 to one.” Eric Sprott explains that the only reason why the silver is still trading at a ratio of 48 to one to gold is because of the market manipulation by some big banks that are naked shorting silver
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Wednesday, May 18, 2011
Silver Conference with David Morgan Eric Sprott Rob Kirby Bill Murphy James Anderson Bob Quartermain SGTbull - 14 May 2011
David Morgan hosts a Silver Conference with precious metals experts and analysts : Eric Sprott Rob Kirby Bill Murphy James Anderson Bob Quartermain SGTbull , these mainly bulls will explain how the markets are rigged why the gold and silver is not in any kind of bubble and why you should hoard physical silver and gold for the long run the Bull market is just about to begin you have not seen anything yet . Eric Sprott says that he has no doubt that Gold will reach a $2000 any time soon
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
David Morgan hosts a Silver Conference with Eric Sprott Rob Kirby Bill Murphy James Anderson Bob Quartermain SGTbull - 14 May 2011
David Morgan hosts a Silver Conference with precious metals experts and analysts : Eric Sprott Rob Kirby Bill Murphy James Anderson Bob Quartermain SGTbull , these mainly bulls will explain how the markets are rigged why the gold and silver is not in any kind of bubble and why you should hoard physical silver and gold for the long run the Bull market is just about to begin you have not seen anything yet ....ENJOY the ride :
Eric Sprott : if only three percent in one day demanded physical delivery there will be no silver on the COMEX
Max Keiser interviews Eric Sprott on gold and silver prices (12May11) :
Eric Sprott : I have always looked at silver and gold as a situation where the demand will exceed the supply and when I looked at gold in the last decade we had a great change from the demand side which central banks used to be sellers and became buyers we used to have no ETFs now we have ETFs we used to have mining companies with hedge now they do not hedge and the shifts in ownerships have been dramatic in a market where we really seen no rise in supply in the case of silver what really turned me on about 12 months ago was as we witnessed people buying silver , you realize that there would not be enough silver to buy and as examples the US mint today sells as many dollars of silver as dollars of gold when you realize that silver trades at 40 to one ratio means they are buying 40 times physical ounces of silver as they are buying gold , when we sold our gold ETF we raised 440 million when we sold our silver ETF we raised 550 million , James Turk of Gold money he sells more dollars of silver than gold we have a little company called Sprott money that sells gold and silver coins we sell way more dollars of silver than gold , and so here we are in a situation where the prices are 40 to one but the dollars going into it are almost dead equal so I can't see the price ratio staying in this range ...we have been a net buyers of silver everyday , I'll be a buyer of silver today , I'll be a buyer of silver tomorrow so we have not lost any faith to what happened to silver ...I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today , I have always thought that silver would trade at 60 to one ratio in terms of prices to gold to make it simple if we measure the gold at $1600 that would suggest that silver could go to $100 I think it might even over shoot downside may be trade as much as 10 to one and the reason I think that is that I believe that gold today is the de facto reserve currency silver has always been a currency people are treating it as a currency , it is a very very small market there is no way that with roughly 50 billion dollar of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....I think last weeks decline was premeditated ....very much orchestrated ...one of the things that I think we should look at is the trading of silver in the paper market which I mean the COMEX and the SLV , last week it probably averaged 1.2 billion ounces per day there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters I mean if something like 3 percent of the people who are trading silver , three percent in one day demanded physical delivery there will be no silver on the COMEX , so I look at this paper markets and I just believe it's paper it's guys pushing buttons who really have no interest in silver other than trying to move the price one way or guess where the price is going ....I think the key market is the physical market , what the people are doing in terms of converting their fiat over to silver and gold and obviously that has a long momentum today and I do not think this raid is going to work even though it was shocking last week
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Eric Sprott : I have always looked at silver and gold as a situation where the demand will exceed the supply and when I looked at gold in the last decade we had a great change from the demand side which central banks used to be sellers and became buyers we used to have no ETFs now we have ETFs we used to have mining companies with hedge now they do not hedge and the shifts in ownerships have been dramatic in a market where we really seen no rise in supply in the case of silver what really turned me on about 12 months ago was as we witnessed people buying silver , you realize that there would not be enough silver to buy and as examples the US mint today sells as many dollars of silver as dollars of gold when you realize that silver trades at 40 to one ratio means they are buying 40 times physical ounces of silver as they are buying gold , when we sold our gold ETF we raised 440 million when we sold our silver ETF we raised 550 million , James Turk of Gold money he sells more dollars of silver than gold we have a little company called Sprott money that sells gold and silver coins we sell way more dollars of silver than gold , and so here we are in a situation where the prices are 40 to one but the dollars going into it are almost dead equal so I can't see the price ratio staying in this range ...we have been a net buyers of silver everyday , I'll be a buyer of silver today , I'll be a buyer of silver tomorrow so we have not lost any faith to what happened to silver ...I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today , I have always thought that silver would trade at 60 to one ratio in terms of prices to gold to make it simple if we measure the gold at $1600 that would suggest that silver could go to $100 I think it might even over shoot downside may be trade as much as 10 to one and the reason I think that is that I believe that gold today is the de facto reserve currency silver has always been a currency people are treating it as a currency , it is a very very small market there is no way that with roughly 50 billion dollar of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....I think last weeks decline was premeditated ....very much orchestrated ...one of the things that I think we should look at is the trading of silver in the paper market which I mean the COMEX and the SLV , last week it probably averaged 1.2 billion ounces per day there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters I mean if something like 3 percent of the people who are trading silver , three percent in one day demanded physical delivery there will be no silver on the COMEX , so I look at this paper markets and I just believe it's paper it's guys pushing buttons who really have no interest in silver other than trying to move the price one way or guess where the price is going ....I think the key market is the physical market , what the people are doing in terms of converting their fiat over to silver and gold and obviously that has a long momentum today and I do not think this raid is going to work even though it was shocking last week
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Tuesday, May 17, 2011
Eric Sprott : I am a buyer of Silver today and tomorrow
Max Keiser guest Eric Sprott on commodities prices (12May11)
Eric Sprott : I have always looked at silver and gold as a situation where the demand will exceed the supply and when I looked at gold in the last decade we had a great change from the demand side which central banks used to be sellers and became buyers we used to have no ETFs now we have ETFs we used to have mining companies with hedge now they do not hedge and the shifts in ownerships have been dramatic in a market where we really seen no rise in supply in the case of silver what really turned me on about 12 months ago was as we witnessed people buying silver , you realize that there would not be enough silver to buy and as examples the US mint today sells as many dollars of silver as dollars of gold when you realize that silver trades at 40 to one ratio means they are buying 40 times physical ounces of silver as they are buying gold , when we sold our gold ETF we raised 440 million when we sold our silver ETF we raised 550 million , James Turk of Gold money he sells more dollars of silver than gold we have a little company called Sprott money that sells gold and silver coins we sell way more dollars of silver than gold , and so here we are in a situation where the prices are 40 to one but the dollars going into it are almost dead equal so I can't see the price ratio staying in this range ...we have been a net buyers of silver everyday , I'll be a buyer of silver today , I'll be a buyer of silver tomorrow so we have not lost any faith to what happened to silver ...I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today , I have always thought that silver would trade at 60 to one ratio in terms of prices to gold to make it simple if we measure the gold at $1600 that would suggest that silver could go to $100 I think it might even over shoot downside may be trade as much as 10 to one and the reason I think that is that I believe that gold today is the de facto reserve currency silver has always been a currency people are treating it as a currency , it is a very very small market there is no way that with roughly 50 billion dollar of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Eric Sprott : in my own account I own 80 percent in precious metals and I do not lose any sleep over it
Eric Sprott :...well I think historically silver and gold traded at a ratio of 16 to one so for example at 1600 dollar Gold Silver could be a $100 /oz and that goes back over centuries as what the relationship was , i think it will go back there , I think it will probably overshoot just because it has been so mispriced for so long and when i look at the data that supports that view I just look at the purchases of silver here , so for example US Mint so far this month has sold more dollars of silver than they have sold dollars of Gold but the prices are for fifty to one ! well how long are you gonna have the same amount of money going into silver as it is going into gold and the prices be fifty to one and I see it not only in the mint sales , I see it in this company called Goldmoney that sells in the internet they sell more silver than gold , the company we have called Sprott Money sells more dollars in silver than gold so people are moving into silver , Eric Sprott suggests that investors chose the physical silver over the paper certificates .... in my own account own 80 percent in precious metals and I do not lose any sleep over it he said
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Monday, May 16, 2011
Eric Sprott : There is only 700 million ounces mined in a year
Eric Sprott : One of the things we should look at is the trading of silver in the paper markets, I mean the Comex and the SLV. Last week it averaged 1.2 billion ounces per day. There is only 700 million ounces mined in a year. There is only 33 million ounces of physical silver that is available for delivery by the commercial shorters. If something like 3% of the people that were trading silver in one day demanded physical delivery, there would be no silver on the Comex.... The key market is the physical market. I don't think this raid is going to work." .
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Sunday, May 15, 2011
Eric Sprott : if only three percent in one day demanded physical delivery there will be no silver on the COMEX
Eric Sprott : ..Silver is the best recommendation anyone can make this decade...I have always looked at silver and gold as a situation where the demand will exceed the supply , and when I looked at gold in the last decade we had a great change in from the demand side where central banks used to be sellers and became buyers , we used to have no ETFs now we have ETFs we used to have mining companies with hedge now they don't hedge and the shifts in ownership had been dramatic in a market where we really see no rise in supply , in the case of silver what really turned me on about twelve months ago was as we witness people buying silver you realize there would not be enough silver to buy and as example the US mint today sells as many dollars of silver as dollars of gold , when you realize that silver trades at forty to one ratio means that they are buying at forty times of physical ounces of silver as they are buying gold , when we sold our gold ETF we raised 440 million , when we sold our silver ETF we raised 550 million , James Turk of Gold Money he sells more dollars of silver than gold we have a little company called Sprott money that sells gold and silver coins , we sell way more dollars of silver than Gold and so here we are in a situation where the price is forty to one but the dollars going in to it are almost dead equal , so I can't see the price ratio staying in this range ...
we have been a net buyer of silver everyday , I will be a buyer of silver today I will be a buyer of silver tomorrow so we have not lost any faith in what's happen to silver ...what happened last week in mind is just another of those raids that we experience from time to time ...there was no particular reason for it , then we end up with five margin request increases , somebody is manipulating the price of silver and that's totally my attitude I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today I have always thought that silver would trade at 16 to one ratio in terms of price to gold to make it simple if we measure gold at $1600 that would suggest that silver may go to $100 , I think it might even over shoot on the downside may be trade as much as ten to one , and the reason I think that is that I believe that Gold today is the De Facto reserve currency it has out performed everything for eleven years , Silver has always been a currency people are now treating it as a currency much as you are recommending to people , i is a very very small market there is no way that with roughly fifty billion dollars of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....
I think last week decline was premeditated it happened in the early hours of Sunday/Monday morning when markets were not re-operating England was closed China was closed it was a great opportunity just to mark it down ...so I think it was very much orchestrated , one thing that I think we should all look at is the trading of silver in the paper market which I mean the COMEX and the SLV last week it probably averaged 1.2 billion ounces per day , there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters . I mean if only something like 3 percent of the people that were trading silver 3 percent in one day demanded physical delivery there will no silver in the COMEX , so I look at those paper markets and I just believe it's paper it's guys pushing buttons who have really no invested interest in silver other than trying to move the price one way or guess which way the price is going ...so...
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
we have been a net buyer of silver everyday , I will be a buyer of silver today I will be a buyer of silver tomorrow so we have not lost any faith in what's happen to silver ...what happened last week in mind is just another of those raids that we experience from time to time ...there was no particular reason for it , then we end up with five margin request increases , somebody is manipulating the price of silver and that's totally my attitude I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today I have always thought that silver would trade at 16 to one ratio in terms of price to gold to make it simple if we measure gold at $1600 that would suggest that silver may go to $100 , I think it might even over shoot on the downside may be trade as much as ten to one , and the reason I think that is that I believe that Gold today is the De Facto reserve currency it has out performed everything for eleven years , Silver has always been a currency people are now treating it as a currency much as you are recommending to people , i is a very very small market there is no way that with roughly fifty billion dollars of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....
I think last week decline was premeditated it happened in the early hours of Sunday/Monday morning when markets were not re-operating England was closed China was closed it was a great opportunity just to mark it down ...so I think it was very much orchestrated , one thing that I think we should all look at is the trading of silver in the paper market which I mean the COMEX and the SLV last week it probably averaged 1.2 billion ounces per day , there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters . I mean if only something like 3 percent of the people that were trading silver 3 percent in one day demanded physical delivery there will no silver in the COMEX , so I look at those paper markets and I just believe it's paper it's guys pushing buttons who have really no invested interest in silver other than trying to move the price one way or guess which way the price is going ...so...
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Eric Sprott : Silver is the best recommendation anyone can make this decade
Eric Sprott : ..Silver is the best recommendation anyone can make this decade...I have always looked at silver and gold as a situation where the demand will exceed the supply , and when I looked at gold in the last decade we had a great change in from the demand side where central banks used to be sellers and became buyers , we used to have no ETFs now we have ETFs we used to have mining companies with hedge now they don't hedge and the shifts in ownership had been dramatic in a market where we really see no rise in supply , in the case of silver what really turned me on about twelve months ago was as we witness people buying silver you realize there would not be enough silver to buy and as example the US mint today sells as many dollars of silver as dollars of gold , when you realize that silver trades at forty to one ratio means that they are buying at forty times of physical ounces of silver as they are buying gold , when we sold our gold ETF we raised 440 million , when we sold our silver ETF we raised 550 million , James Turk of Gold Money he sells more dollars of silver than gold we have a little company called Sprott money that sells gold and silver coins , we sell way more dollars of silver than Gold and so here we are in a situation where the price is forty to one but the dollars going in to it are almost dead equal , so I can't see the price ratio staying in this range ...
we have been a net buyer of silver everyday , I will be a buyer of silver today I will be a buyer of silver tomorrow so we have not lost any faith in what's happen to silver ...what happened last week in mind is just another of those raids that we experience from time to time ...there was no particular reason for it , then we end up with five margin request increases , somebody is manipulating the price of silver and that's totally my attitude I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today I have always thought that silver would trade at 16 to one ratio in terms of price to gold to make it simple if we measure gold at $1600 that would suggest that silver may go to $100 , I think it might even over shoot on the downside may be trade as much as ten to one , and the reason I think that is that I believe that Gold today is the De Facto reserve currency it has out performed everything for eleven years , Silver has always been a currency people are now treating it as a currency much as you are recommending to people , i is a very very small market there is no way that with roughly fifty billion dollars of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....
I think last week decline was premeditated it happened in the early hours of Sunday/Monday morning when markets were not re-operating England was closed China was closed it was a great opportunity just to mark it down ...so I think it was very much orchestrated , one thing that I think we should all look at is the trading of silver in the paper market which I mean the COMEX and the SLV last week it probably averaged 1.2 billion ounces per day , there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters . I mean if only something like 3 percent of the people that were trading silver 3 percent in one day demanded physical delivery there will no silver in the COMEX , so I look at those paper markets and I just believe it's paper it's guys pushing buttons who have really no invested interest in silver other than trying to move the price one way or guess which way the price is going ...so...
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
we have been a net buyer of silver everyday , I will be a buyer of silver today I will be a buyer of silver tomorrow so we have not lost any faith in what's happen to silver ...what happened last week in mind is just another of those raids that we experience from time to time ...there was no particular reason for it , then we end up with five margin request increases , somebody is manipulating the price of silver and that's totally my attitude I have no fear of silver here , yes it will be parabolic but it will be more parabolic than we have today I have always thought that silver would trade at 16 to one ratio in terms of price to gold to make it simple if we measure gold at $1600 that would suggest that silver may go to $100 , I think it might even over shoot on the downside may be trade as much as ten to one , and the reason I think that is that I believe that Gold today is the De Facto reserve currency it has out performed everything for eleven years , Silver has always been a currency people are now treating it as a currency much as you are recommending to people , i is a very very small market there is no way that with roughly fifty billion dollars of silver inventory around that we can make it a currency at these price levels so I see the price going much higher ....
I think last week decline was premeditated it happened in the early hours of Sunday/Monday morning when markets were not re-operating England was closed China was closed it was a great opportunity just to mark it down ...so I think it was very much orchestrated , one thing that I think we should all look at is the trading of silver in the paper market which I mean the COMEX and the SLV last week it probably averaged 1.2 billion ounces per day , there is only 700 million ounces mined in a year there is only 33 million ounces of physical silver at the COMEX available for delivery by the commercial shorters . I mean if only something like 3 percent of the people that were trading silver 3 percent in one day demanded physical delivery there will no silver in the COMEX , so I look at those paper markets and I just believe it's paper it's guys pushing buttons who have really no invested interest in silver other than trying to move the price one way or guess which way the price is going ...so...
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Wednesday, May 11, 2011
Gold May Rise to $2,000 as Alternative to Currency, Eric Sprott says
As investors continue to buy gold preferring it to paper money the price may go as high as $2000 before the end of this year says Eric Sprott Chairman, Chief Executive Officer & Portfolio Manager of Sprott Inc . Gold will rise by at least 17% this year, Sprott said today in an interview during the New York Hard Assets Investment Conference. The metal averaged $1,228.45 an ounce last year on the Comex in New York and ended 2010 at $1421.40. via Bloomberg
“It’s gone up 17% a year for the past 11 years; I’m sure it will do that as a minimum,” Sprott said. “It could easily hit $2,000 this year. That wouldn’t be out of the question.” Sprott Asset Management now offers 5 types of metal funds Sprott Gold & Precious Minerals Fund, Sprott Gold Bullion Fund, Sprott Silver Bullion Fund, as well as the exchange-traded Sprott Physical Gold Trust and Sprott Physical Silver Trust.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
“It’s gone up 17% a year for the past 11 years; I’m sure it will do that as a minimum,” Sprott said. “It could easily hit $2,000 this year. That wouldn’t be out of the question.” Sprott Asset Management now offers 5 types of metal funds Sprott Gold & Precious Minerals Fund, Sprott Gold Bullion Fund, Sprott Silver Bullion Fund, as well as the exchange-traded Sprott Physical Gold Trust and Sprott Physical Silver Trust.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Monday, May 2, 2011
Eric Sprott sold his Silver Trust units
As reported by the Canadian news paper the Globe and Mail this morning of May 2, 2011 Eric Sprott sold his Silver Trust units : Eric Sprott and Sprott hedge funds have sold trust units in Sprott's Physical Silver Trust. The trades were made in the last two weeks of April when the price of silver peaked. read article >>>>
Friday, April 29, 2011
Eric Sprott : the real story now is silver
In an interview with the Canadian newspaper The Glob and Mail Eric Sprott Chairman, CEO & Portfolio Manager of Sprott Asset Management said that he believed that Silver is the real story now and it will out perform Gold : "I think gold is the reserve currency today. There is not a currency in the world that it hasn't appreciated against by at least 300 per cent. And it has beaten every stock market. You can't even rent a safety deposit box in Germany because they are all full of gold and silver ... I am pretty convinced that gold will go a lot higher because it is under-owned as only 1 per cent of people's money is in it. It could go to $2,000 an ounce. I could imagine it at $5,000. I am not giving a time frame on that, but I could certainly see that happening. But the real story now is silver. Gold has traded at a ratio of 16-to-1 to silver in terms of price, but today it trades in the range of 50 to 1. I think the gold-to-silver ratio is going to go back to 16 to 1 given the passage of time, say three to five years. And I bet you that silver overshoots. The gold-to-silver ratio may even get down to 10 to 1. I believe that the price of silver has been suppressed."
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) , Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
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