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

Tyler Durden's picture

Eric Sprott making headlines in Vegas:

  • SPROTT SAYS GOLD IS NOW THE WORLD'S RESERVE CURRENCY
  • SPROTT SAYS SILVER WAS `MANIPULATED' DOWN IN PRICE
  • SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS
  • SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD

Naturally he will be called a nutjob and a tin foil-hat wearing moron, until he is, of course, proven right, at which point the conspiracy theory becomes non-conspiracy fact.

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nope-1004's picture

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.

 

Whalley World's picture

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.

Urban Redneck's picture

The original Aramco concession (when Aramco was US owned) provided that the Saudis would be compensated in gold for their oil.

Saxxon's picture

Excellent post nope-1004.

FlyPaper's picture

Quite humorous.  I assume the person who junked you didn't wait long enough to hear the lyrics...

Al Gorerhythm's picture


CME SAYS?!!

Go fuck yourselves!

 

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!!!

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.

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? 

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...

 

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

Al Gorerhythm's picture

Too sad... ---

+++ for the insight tho'.

Canucklehead's picture

I suspect these two guys are simply Aaron Barr operating in his new role as "Protector of the Ponzi".

strannick's picture

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

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?

Catherine007's picture

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

buck4free's picture

He bought more physical too, bringing his physical position to "highest to date"... at least he claimed on King World News.

Saxxon's picture

So Sprott took profits at the top then piled into miners which have been pounded.  I hope he kept some in "worthless FRNs".

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.

Sophist Economicus's picture

no way he can get methmans approval

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

 

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 ....."

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.

DavidPierre's picture

ECE Silver !!!

A Billion Oz. in Mexico!!

female canines!

Al Gorerhythm's picture

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.

SRV - ES339's picture

One of his primary concerns I'm sure!

tmosley's picture

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.

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.

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?

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".

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!

DoChenRollingBearing's picture

Thank you akak for the summary, as I had missed the original...

akak's picture

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.

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.

geekgrrl's picture

Thanks! I was wondering what got everyone so worked up, especially since it only costs $5 to dig it out of the ground! (sarc)

Saxxon's picture

How do you really feel, korrath?

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.

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.

AR15AU's picture

WOW, epic trolling... why not just log into democratic underground and call Obama the N word. I'm sure you'd get more attention.