Sprott Clueless About His Own Statements

Eric Sprott, once again, is gutting me with his statements and his conspiracy theories which seem to have gone beyond his own rationalization process.

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!

No comments: