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Eric Sprott Says Gold Is Now The World's Reserve Currency, Says Silver Was Manipulated Lower

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Thu, 05/12/2011 - 15:36 | 1269110 palmereldritch
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Thu, 05/12/2011 - 15:41 | 1269132 Zero Govt
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Thu, 05/12/2011 - 16:02 | 1269268 Sophist Economicus
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Charlie SAYS

Thu, 05/12/2011 - 16:46 | 1269449 nope-1004
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Gold always was, always is, and always will be the world reserve currency.  The only difference is that the last 50 some years has been influenced by a military complex intent on settling oil in fiat, thereby giving the fiat some credibility.

Really, when you look at the last 50 years on a global scale, it's nothing in geologic time.  It was a short experiment in gaming other nations at the behest of the US military.  Nothing has changed with gold, it still has its same molecular structure and chemical composition.  The dollar, though, has been through many changes and will continue to lose its military backed oil significance as faith around the world declines due to its subversive intentions brought about by crooked and criminal banksters.


Thu, 05/12/2011 - 17:41 | 1269683 Whalley World
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From my studies, one of the reason for a gold standard is it reconciles the obligation between the creditor and debtor.  A set interest rate is inefficient when there is no check on inflation.  Nathan Lewis in his Gold The Once and Future Money states that for over 200 years inflation was stable under the British Gold standard.  Great book high recommendation.

Fri, 05/13/2011 - 03:13 | 1270969 Urban Redneck
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The original Aramco concession (when Aramco was US owned) provided that the Saudis would be compensated in gold for their oil.

Thu, 05/12/2011 - 23:52 | 1270743 Saxxon
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Excellent post nope-1004.

Thu, 05/12/2011 - 17:49 | 1269731 Cui Bono
Fri, 05/13/2011 - 01:12 | 1270862 FlyPaper
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Quite humorous.  I assume the person who junked you didn't wait long enough to hear the lyrics...

Thu, 05/12/2011 - 17:22 | 1269611 metalsman22
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Thu, 05/12/2011 - 21:43 | 1270433 Al Gorerhythm
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Go fuck yourselves!


Fri, 05/13/2011 - 02:08 | 1270919 Xanadu_doo
Xanadu_doo's picture

And we say..."CME: get bent!"

I'm using this dip to buy more physical, bitches (and by bitches I mean the fab folks here who have taught me so much in the last few months I've been stalking).

Thank you, all. :)

PS: I think the trolls are entertaining, but only in very limited doses (like my friend Richard...). And I'm glad they were right about their "top" call last week because it let's me buy MORE PHYSICAL!!! Too bad (for them) they're too short sighteded (like the rest of the US sheeples) to see that a correction was necessary and GOOD for the long-term growth.


Ride the silver wave, baby!!! Whoo-hoooooooo!!!

Thu, 05/12/2011 - 15:57 | 1269241 Bay of Pigs
Bay of Pigs's picture

"he is the manipulator"?

LOL....now that is funny, takes the cake Math Boy. 

The guy has almost his whole net worth in PM's you stupid fuck.

Thu, 05/12/2011 - 16:12 | 1269299 Arttrader
Arttrader's picture

Why do you think this altruistic soul is so interested in you profiting from PM's rather than selling out at a profit?  Whole net worth in PM's?  Wouldn't he like us to think so? 

Thu, 05/12/2011 - 16:22 | 1269361 Bay of Pigs
Bay of Pigs's picture

Altruistic soul? So he's secretly piling into Apple and Netflix? LMAO. Some of you guys are wearing the fucking Tin Foil Hats now...


Thu, 05/12/2011 - 16:44 | 1269441 Problem Is
Problem Is's picture

The Most Outrageous Conspiracy Theory I Ever Heard:

"The US dollar is a store of value. We are not priniting money. There is no inflation. We have a strong dollar policy."

Timmay Jeethner & Bennie "Sayonara" Bernank

Thu, 05/12/2011 - 17:19 | 1269590 gmrpeabody
gmrpeabody's picture

Too funny... +++

Thu, 05/12/2011 - 21:47 | 1270462 Al Gorerhythm
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Too sad... ---

+++ for the insight tho'.

Thu, 05/12/2011 - 16:46 | 1269464 Canucklehead
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I suspect these two guys are simply Aaron Barr operating in his new role as "Protector of the Ponzi".

Thu, 05/12/2011 - 17:41 | 1269718 strannick
strannick's picture

Maybe he's secretly trying to unload his silver sos he can buy Munis?

Thu, 05/12/2011 - 21:31 | 1270410 lawrence1
lawrence1's picture

Projecting your own
devious disposition?
Maybe Sprott is just walking his talk. Would it make sense for him to invest in unrelated and, for him, perilous assets?

Thu, 05/12/2011 - 16:00 | 1269243 Catherine007
Catherine007's picture

Sprott sold PSLV and reinvested the proceeds in silver mining shares. Do your homework before you call Eric a "lying prick"!!

Thu, 05/12/2011 - 16:13 | 1269306 buck4free
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He bought more physical too, bringing his physical position to "highest to date"... at least he claimed on King World News.

Thu, 05/12/2011 - 23:51 | 1270746 Saxxon
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So Sprott took profits at the top then piled into miners which have been pounded.  I hope he kept some in "worthless FRNs".

Thu, 05/12/2011 - 15:59 | 1269244 Rynak
Rynak's picture

I'm sure if he had done the opposite, you would claim that he's an idiot because he makes bad decisions. Poor Sprott.... no way he can get methmans approval.

Thu, 05/12/2011 - 16:04 | 1269279 Sophist Economicus
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no way he can get methmans approval

And right about now, poor Sprott is concerned about that too....


Thu, 05/12/2011 - 16:38 | 1269412 akak
akak's picture

I could see the careworn lines in his face during his most recent interview with James Turk.  And if you listened very closely, you could hear him repeating under his breath, over and over, "only $5 to dig from the ground ..... only $5 to dig from the ground ....."

Thu, 05/12/2011 - 17:47 | 1269730 strannick
strannick's picture

Only cheaper monetary instrument to get is infinitely printable Treasuries. Problem is that no one wants em since their infinitely printable.

Silver junior miners Bitchez. SVL. CMA.

Thu, 05/12/2011 - 21:56 | 1270494 DavidPierre
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ECE Silver !!!

A Billion Oz. in Mexico!!

female canines!

Thu, 05/12/2011 - 21:52 | 1270482 Al Gorerhythm
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If he even cared to think about it, I doubt he would give MM's opinion much credence. He'd only be joining the queue.

Thu, 05/12/2011 - 16:06 | 1269285 SRV - ES339
SRV - ES339's picture

One of his primary concerns I'm sure!

Thu, 05/12/2011 - 16:11 | 1269308 tmosley
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You keep telling those half truths, lying troll.

Sold PSLV and bought physical silver and silver equities to start a silver mutual fund.  He did NOT miss the crash.

Thu, 05/12/2011 - 17:07 | 1269550 Korrath
Korrath's picture

If there had ever been a point where I needed confirmation that Mathman is a bottom feeding, lying sack of shit, today I got my proof.

Thu, 05/12/2011 - 19:23 | 1270023 Keri at Bankste...
Keri at Bankster Report's picture

I wish I would have seen what the post was, but it appears that it was junked away in record time, or something.  What did it say, anyway?

Thu, 05/12/2011 - 19:34 | 1270046 tmosley
tmosley's picture

He claimed that the only thing that mattered was that Sprott sold PSLV.  He was accusing Sprott of using his clients as bagholders, rather than being a real silver bull.

I mean, what kind of moron would know in advance that the silver was going to fall, and use that opportunity to get out to OPEN A NEW FUND FOCUSED ON SILVER?

But basic logic is utterly lost on this "person".

Thu, 05/12/2011 - 19:40 | 1270058 akak
akak's picture

Allow me to hypothesize, and summarize:

Silver is going to plunge --- it only costs $5 to dig from the ground!


Eric Sprott is a liar and a thief, because he took some profits from his own PSLV (to put into other silver investments, but I mustn't acknowledge that fact).


Silver is going to plunge --- it only costs $5 to dig from the ground!


The SLV ETF is fully backed by physical silver, and is perfectly safe --- in fact it is infinitely better to put your hard-earned savings into promises from known criminals than holding that dirty, physical silver yourselves, which only survivalist nutcases would do.


Silver is going to plunge --- it only costs $5 to dig from the ground!


Eric Sprott strangles puppies for fun, and eats babies for breakfast (with a silver fork).


Silver is going to plunge --- it only costs $5 to dig from the ground!


JPMorgan, the Federal Reserve, and Ben Bernanke are selflessly working in all of our best interests, and for the good of the entire nation.


I heart fiat!

Thu, 05/12/2011 - 20:44 | 1270247 DoChenRollingBearing
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Thank you akak for the summary, as I had missed the original...

Thu, 05/12/2011 - 20:45 | 1270261 akak
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Well, DoChen, it is not like he ever has anything original or truly intelligent to say, does he?  Once you've read one MethMan post, you've read all 666,666 of them.

Thu, 05/12/2011 - 21:52 | 1270484 Keri at Bankste...
Keri at Bankster Report's picture

LOL, "I heart fiat!"

Thank you.  I'm glad I missed it, as it saved me the trouble of responding to it, too.

Thu, 05/12/2011 - 22:19 | 1270537 geekgrrl
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Thanks! I was wondering what got everyone so worked up, especially since it only costs $5 to dig it out of the ground! (sarc)

Thu, 05/12/2011 - 22:23 | 1270549 akak
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And the shit is everywhere!


Fri, 05/13/2011 - 00:58 | 1270843 Ahmeexnal
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And you can't eat it!

Fri, 05/13/2011 - 01:16 | 1270864 WaterWings
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Thu, 05/12/2011 - 23:56 | 1270751 Saxxon
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How do you really feel, korrath?

Thu, 05/12/2011 - 16:17 | 1269329 Sierra Hotel
Sierra Hotel's picture

Oh Math Man, that's so simple minded. Just because he likes

Silver he's never allowed to sell any?

The man took advantage the fact

that the price was rising out of control, profit took and then

re-positioned himself at the lower price. As one of his clients,

I am greatly impressed with his maneuver and so should you.

Thu, 05/12/2011 - 21:40 | 1270436 lawrence1
lawrence1's picture

Gold, the "closet currency." What a waste of energy even responding to this guy. If Central Banks are buyers of gold, if many other non western countries are buying gold, if
Euro reseves are over 50% gold and gold has increased many fold in the last decade, gold is unofficially poviding important backing of currencies.. a closet currency that the ponzi artists want to keep in the closet.

Thu, 05/12/2011 - 16:21 | 1269357 AR15AU
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WOW, epic trolling... why not just log into democratic underground and call Obama the N word. I'm sure you'd get more attention.

Thu, 05/12/2011 - 21:27 | 1270381 equity_momo
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Thu, 05/12/2011 - 16:45 | 1269459 Threeggg
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Sprott on Max Keiser today here !


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