His been advocating for many months now that we're running out of silver and gold and that it won't be possible to source more physical bullion — another reason for him to point to manipulation by banks, and the "fake" paper markets for precious metals.
Here's a quote from his interviewed on King World News on the 20th of August:
— People have been buying a lot of physical gold. Where is that gold coming from?
— Well this is a great question, and I've been immensely struggling with it and I struggle with it more every day. [...] There's far more demand that supply, so it brings the question: Where is that gold coming from? [...] And it is taking me today more than any other period in my life to the GATA view that banks have all along [...] been selling gold and I think they have to been selling gold now, to keep things under control. And I don't know where this gold is coming from. I have no idea where the gold is coming from but somebody is supplying this market. [...] The price of gold has been kept under control. [...] Somebody out there is making sure the price do not get too much carried away.
Jim Sinclair also mentioned that gold will be at $12,000...
They go on have a laugh at Carlos Slim selling some of this silver, stating how big a mistake this is...
Anyway, getting back to the point, it looks like we have a first runner for the September's Award of the Stupidest Statement of the Month Award (see last month's: Winner of the Stupidest Statement Of the Month Award — John Embry).
Another rule that I will have to create for this contest, is that the Award can only be given once during a calendar year. Because otherwise, it looks like Embry and Sprott will be competing for it every month!