16899 Views September 18, 2015 GOLD, KWN King World News
Today billionaire Eric Sprott told King World News that we have just witnessed a shocking even that only happens once in 333 million lifetimes.
that only happens once in 333 million lifetimes.
[size=22]A Gold & Silver Tsunami And Plunging Global Stock Markets[/size]
Eric King: “Eric, we’ve talked about the tightness in the physical market (for gold and silver). The price is controlled in the paper market, unfortunately, so there is always this disconnection from reality when we get to these points. But you do hit a wall with the paper manipulation. Are we there?
Eric Sprott: “I sense we may get a tsunami of interest in gold and silver…
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Eric Sprott continues: “The reason I say that, Eric, is that we see the bond market and stock market taking shots to the downside. There are so many people in the world who would be better off owning gold.
The logic of owning precious metals is increasing. We see it manifested in the physical demand. So I think we might see a tsunami come in here and the whole physical dam will break. And of course one of the reasons it could break is that most of my work suggests that the developed world’s central banks don’t have much gold left. And we’re kind of sensing that. We’ve got a lot of smoke in the room.
Shorts Cause Paper Claims On Gold To Shatter All-Time Record
It seems like we could be on the precipice of things falling into place for all of us who have believed, for the right reasons, that you have to own gold and silver. So we’ll all stand by as this plays out. I just don’t know if you want to be short 252 ounces for every ounce (of available physical gold) and then press your (short) position. That just seems totally ludicrous to me. So I think we are in pretty good shape.”
Eric King: “What kind of world is in front of us? Because I know you are looking for a very nasty endgame.”
A Shocking Event That Only Happens Once In 333 Million Lifetimes
Eric Sprott: “Well, it won’t be pretty. The market is overdue for a top. Some of the great work that’s been done is showing that this rise in stocks is something like a seven-standard deviation event. Seven standard deviations is something that happens one in 333 million lifetimes. The Fed has been keeping the market up and it’s way out of proportion to what is normal. So if things break, I think what will happen will be out of proportion on the downside…