“If the U.S. dollar goes down, you might want to own gold.” - Eric Sprott on the looming crisis

“If the U.S. dollar goes down, you might want to own gold.” - Eric Sprott on the looming crisis 

Interviewed by Craig Hemke, Sprott Money News

Gold is up on the day, and here’s hoping this marks the start of a new trend. Eric is back once again to help us make sense of the week’s news, including:

• Who’s doing well right now—and who’s not

• Why rates might be cut in 2019

• Plus: where you can find the good news

 

“We’ve got to expect more difficulty for the man on the street, here… Even the hours worked this week were down .1 hours. So, that’s not good. That’s just less salary. It’s been the same old thing. I think the data’s always been wrong. Even the GDP data’s always wrong, when they tell us it’s 4% growth. That’s baloney. They always revise it later to some lower number, and anyway, I just don’t believe the recovery is nearly as strong as the press and economists would like us to believe.”

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

 

“If the U.S. dollar goes down, you might want to own gold.” - Eric Sprott on the looming crisis 

Interviewed by Craig Hemke, Sprott Money News

Check out these other articles by our contributors:

THE WORLD’S GREATEST BUBBLES ARE BIGGER THAN EVER: When They Pop, You Better Own Some Precious Metals- Steve St. Angelo (10/08/2018)

The Right to Bear Arms - Jeff Thomas (09/08/2018)

No Bottom in Gold until Trade War Ends - David Brady (08/08/2018)

Trump buys into the Krugman con - Peter Diekmeyer (08/08/2018)

COMEX Gold and the Commitment of Traders Report - Craig Hemke (07/08/2018)

 

Comments

DarkPurpleHaze Fri, 08/10/2018 - 11:18 Permalink

A rate cut? USD strength?

But...but...whatever happened to the foolish notion/hustle that the USD is toast and that the Fed is trapped and rates could never be raised?? And now you're talking about rate cuts?!?! 

I've been around long enough to realize that the China/yuan crutch (USD is doomed, right?) has been used one way or another to predict, promise or speculate that gold will skyrocket eventually because (fill-in-the-blank) and that crutch will be leaned on for many more years by those who can't support their constant B.S. speculations (aka storytellingwith anything factual (aka reality) to base their B.S. upon.

Anyone trying to tell you what direction any type of market (forex, equities  commodities, bonds etc) is headed while a monumental (and just getting started) trade war is developing is so full of crap on the scale of a loaded manure spreader (or full wheelbarrow) when they talk about metals that they'll say just about anything on any given day. I smell a theme...

https://giphy.com/gifs/R1bw9sYyGt3Py

...and it's word sophistry, storytelling and a hustle.

 

Davidduke2000 Fri, 08/10/2018 - 12:31 Permalink

Eric, there is no sense to sell anybody on gold as there is no gold on the market you must know that.

let them pay $5000/$10000/$50000 per OZ when the time comes.

east of eden Ward of the Squid Fri, 08/10/2018 - 13:16 Permalink

This is the 'beauty' of having the world's reserve currency. If you want to punish a country, you can simply sell their currency in naked shorts, forward, while at the same time, the instability causes more people in more countries to reach for the US dollar, thus strengthening it, and consequently lowering the price of gold in US dollars at exactly the time when foreign purchasers of gold need gold to hold it's price, so those countries are getting hit with a double whammy.

I'll leave it to your own conscious to decide if you think that is a legitimate way of conducting world affairs.

In reply to by Ward of the Squid

exartizo Fri, 08/10/2018 - 14:53 Permalink

...More Insane Fear Mongering by the Feckless Cunt Gold Pumping King Eric Sprott/Craig Hemke Himself with an axe to grind because his wallet is not Fat Enough.

GOLD LOWER

POSSIBLY MUCH LOWER.

THIS IS NOT THE TIME TO BUY GOLD.