Billionaire Sprott Says World To Witness A Frightening Collapse
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
kingworldnews.com / August 23, 2013
Today billionaire Eric Sprott warned King World News that the world is in for a massive and frightening collapse. He also startled KWN when he revealed what his biggest fear is when the mega-collapse takes place. This is the second of three interviews with the Canadian billionaire that will be released today. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part II of this remarkably powerful interview series.
Eric King: “Ron Rosen has been watching these markets for almost 60 years now, but he told KWN in an interview very recently that the stock market was going to have a massive collapse — he was talking (about a) 66% (decline). And (he also said) that gold and silver were going to skyrocket. Since then we’ve seen the Dow plunge 500 points, gold move up about $80, and silver has risen $2.60. This environment that you see going forward, is that a scenario that could play out as Rosen describes?”
Sprott: “Well, Eric, I guess I would start out with my fundamental conclusion about the financial system in the world. It’s obvious to me that the U.S. government is broke. That’s the easiest calculation in the world to make….
Thanks to BrotherJohnF
Source: http://silveristhenew.com/2013/08/23/billionaire-sprott-says-world-to-witness-a-frightening-collapse/
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Whistler Blowers, Insiders
Crap.$$$$$$$$$$$$$$$$$$
Anaylyze. Yep intelligence level same. Never changes. Need disruptive cycle amped up a bit. Retest.
wizard
Go and have a good dump you might feel better.
Big deal. This will hurt the wealthy, and it will bounce back at some point. If you don’t like that manipulation of stocks, don’t buy them.
See what Donald Trump says about the US economy & the coming collapse. Other good links in there as well.
http://www.moneynews.com/Outbrain/Trump-Aftershock-American-Economy/2012/11/06/id/462985?PROMO_CODE=10999-1
Followed the link and it’s nice to see discussion of the derivatives market * the Sword of Damocles** But, as Zen would say, Is this a bad thing? We shall see. We Americans have lived like drunken sailors on leave for decades now…We disco danced while El Salvatore, parts of China–Tibet and others, Grenada, the Faulklands, etc etc etc…Were systematically crushed… We shall reap what we have sown…Let’s hope it doesn’t hurt too badly!
If everyone thought a stock market crash was imminent, it already would have crashed since they all would have all sold. And if everyone thought gold and silver were going to skyrocket, they already would already have since everyone would have bought to drive the price up. Diversity of opinion is what makes the prices at any given moment.
The opinion of anyone is suspect, especially if he makes his living by giving out financial advice for a fee or selling financial products for a commission. After all, if they really knew how to make money trading markets, wouldn’t they be able to live independently without the frustrations of their day job of giving advice or earning commissions? These people are salesmen, not wizards. Many of them just parrot the opinions they hear other “experts” express.
I think the advice that this thread conveys is completely wrong. I think there is strong evidence that the stock market will spike upward, doubling over the next six to nine months before it starts back down to where we are now by 2016. Gold and silver are in a countertrend rally right now and could go up just a little higher before they both collapse, gold to under $500 and silver to under $5 by sometime in 2014.
A long trend and cyclical movements around that trend by multiple oscillations are the determinant of 98% of the price of the stock market and of gold and silver. The trend is identifiable with a 4th or 5th degree polynomial formula. The many, many simultaneous oscillations are identifiable by known mathematical techniques, and this is far more reliable in knowing what is to come than the conventional wisdom of anyone.
Fed Intervention, via their proxies @ GS and JPM aka the “Plunge Protection Team” and their algorhythm-based trading software is all that is keeping the stock market bubble inflated.
Earnings reports, employment stats, inflation figures, GDP reports, etc., all point to the economy tanking, yet you suggest that the market is about to double???
Paper manipulation of the PM markets is rapidly approaching an end-game situation as more and more customers demand physical delivery of the underlying assets represented by the paper contracts that were bought.
Or, are the GOFO/backwardation reports untrue? I guess that the COMEX/LBMA vaults are just awash with eligible bullion to cover the upcoming delivery requirements. That’s why we’ve seen the 25-30% recovery in PM ‘paper’ prices since the April-June takedown intended to shake out the weak hands.
Your projections of sub-$500 gold and sub-$5 silver next year are hilarious. I guess you think that oil will retrace to below $30 a barrel too. “Happy days are here again …” ???
Step away from those medications and take a long, hard and cold look at the reality of the global financial situation.
There is little doubt that there will be some changes ahead, however, I have stopped using the term “collapse” when explaining the consequences of the insane fiscal policies of the Western nations. After all, why allow any sudden changes when the sheeple will embrace gradual tyranny?
that mostly sounded like just a commercial for their investment firm. LOL
I bet that billionaire one dollar the whole economy is going to slow and crash like in 2008 on September-Dec
SID suggests $5 silver. Interesting prediction. Right now the rest of the world is spending the same amount to buy silver as they spend on gold – in other words they are buying 65 TIMES more silver than gold. Silver has 13,000 + uses and right now we are USING 1.3 million oz but are only mining 750 million oz and all the world’s reserves of silver are used up.
If it were JUST the USA manipulating and controlling the price of silver (protecting the greenback) then perhaps your prognostications would be logical. The REST of the WORLD is buying pretty much everything they can get their hands on and the west is just selling – perhaps based on a skewed perception of reality similar to yours. At $5 @ oz every silver mine in the world would close operations which is another reason your $5 silver IMHO is completely out of whack with reality.
As far as gold goes – it is NOT used as much as silver and almost every oz that was ever produced is still here. COMEX manipulation could drive it down a little more but again the US is pummelling gold&silver in the hope it keeps the dollar strong. That idiocy is gonna end soon and then it’s gonna get ugly when Americans are going to have to buy stuff with some form of currency that is worth something. AT that point in time all the countries that have been buying gold will demand proof that Ft Knox indeed has its gold and if it doesn’t the US dollar will be thrown onto the garbage heap of history. Then do you still predict $500 gold? Sure doesn’t make any sense to me.
I wish these analysts would stop stating the obvious. Like the hack mediums (refer ring to the fake ones) that say they’re sensing someone coming through named Steve with dark hair, as half the group keeps standing, then the medium says “That drove a Jeep” and so on. If nothing continues to be done, we will all forecast the same thing and be right.