“That’s the volatility they need to make money. Wash, rinse, repeat.” - Eric Sprott on banks and the markets

 

“That’s the volatility they need to make money. Wash, rinse, repeat.” - Eric Sprott on banks and the markets - Weekly Wrap-Up

 

By Craig Hemke, Sprott Money News

 

The “beleaguered” Eric Sprott returns this week to discuss the latest and not-so-greatest in the precious metals markets. But it’s not all bad news! In this edition of the wrap-up, you’ll hear:

• Why Eric remains calm about gold prices

• What the trade war means for markets

• How the U.S. midterm elections could affect everyone

“It’s bad enough being down to 1216 or 1217, wherever we’re trading right now. But it’s the process we’re going through. As you know, I’ve expressed many times before that whenever the commercial banks say, ‘We need volatility in markets,’ well… they’re getting it! And of course they orchestrate it, I believe. And that’s exactly what we’re going through, with not only gold and silver. We see it in the oil market, where it got up to 77 and everyone gets excited, it’s going to break out, and bang! It’s down ten bucks three weeks later… So, here we are. Who knows when we get off of it.”

Ask Eric a question by following us on Twitter (www.twitter.com/SprottMoney) or Facebook (www.facebook.com/SprottMoney) and post to us using the hashtag #AskEricSprott

For more info, contact us at submissions@sprottmoney.com
 

To hear Eric's full thoughts and more, listen here:

Listen to the Weekly Wrap-Up on: iTunes Youtube SoundCloud

 

 

 

 

“That’s the volatility they need to make money. Wash, rinse, repeat.” - Eric Sprott on banks and the markets - Weekly Wrap-Up

 

 

By Craig Hemke, Sprott Money News

 

 

Get News and latest information on the precious metals industry to your inbox:Sign Up NOW

Check out these other articles by our contributors:

The MSM Wants War With Russia? A Dangerous Narrative is Born - Nathan McDonald (19/07/2018) The Downside Case for Gold - David Brady, CFA (19/07/2018)

What’s Going On With Gold? Dave Kranzler (18/07/2018)
 Crude Oil May Not Find Support Above $60 This Time - Chris Vermeulen (18/07/2018) India Soaks Up Physical Silver Supply - Craig Hemke (17/07/2018) 

 

 

 

Comments

DarkPurpleHaze Fri, 07/20/2018 - 10:10 Permalink

About 10 years ago we heard all about how the USD was going to greatly devalue and that QE was forever and interest rates couldn't go up and the Fed was trapped (remember?) and how the yuan was going to strengthen and that gold would be the beneficiary and basically skyrocket...to da' moon!

 

S-l-o-w forward through 10 years of absolutely unapologetic B.S. and a relentless hustle and the narrative now (previous failed predictions unacknowledged, of course) is that the USD is dangerously strong and that QE really never ended and interest rates are in fact rising and the Fed wasn't trapped and the yuan is weakening and that the all powerful China is just beginning a form of QE and the price of gold has steadily eroded and declined .

And Sprott/yourself feign astonishment and feel beleaguered??? Wow, do you both believe or just count on people being gullible and memory impaired???

This somewhat reminds me of the Happy Days character "Fonzi"  who had a fictional character dysfunction where he was almost unable to say he was...."w-w-r-r-r-r-r-o-n-g-g-g!!!" 

But he did so eventually because it was scripted into that comedy show. That'll never happen on this sitcom.

Dispute any of the stated above and let the sad excuse-making melodrama begin.

U4 eee aaa DarkPurpleHaze Sat, 07/21/2018 - 00:57 Permalink

It's not that they're wrong, it is that they refuse to admit a basic fact. At least they refuse to admit to their readers the fact that the Fed controls the market. Until you can admit that you can't trade effectively. If you plan on racing down the highway and you have two big trucks blocking both your lanes you need to deal with the trucks. Not talk about how you will soon be topping 100MPH real soon

 

How many suckers are left on these guys mailing list? Or are they paid to say what they say?

In reply to by DarkPurpleHaze

cpnscarlet Fri, 07/20/2018 - 17:38 Permalink

So Sprott admits that it's all about the bankers wanting volatility, but he'll still go on making comments about "smelling" another breakout.

 

Shill. Fraud. Loser.

 

Stay patient, Eric? Sure, with the metal. But not with you or Turd, MFers.

Prosource Fri, 07/20/2018 - 17:49 Permalink

Sprott says 'maybe half the population wants impeachment.'

- Credibility just sunk to the bottom..

There is a rabid/radical/antifa/lgbtq Hellywood and NYC 5-7% that may want impeachment, but they are foaming at the mouth creating any number of "reasons". 

GRDguy Fri, 07/20/2018 - 18:05 Permalink

It's not Sprott's fault markets are nothing but interventions; us older guys have never seen this high levels of manipulation in our lifetimes. It'll be over when enough people figure out financial self-defense for themselves. Who knows how long that will take, with all the lyin' and stealin' so obviously prevaling every day.