Wednesday, June 19, 2013

Eric Sprott says banks are in big trouble

Bail-ins-The Ultimate Win for Precious Metals-Eric Sprott

By Greg Hunter’s 
Money manager Eric Sprott isn’t worried about the heat he’s taken in the past few years over the declining price of precious metals.  Sprott contends, “You get a lot of criticism because people think you’ve lost your marbles . . . our views will be proven to be correct.  We intensely analyze the gold and silver market, and we think both will hit new highs at the end of the year or early next year.”  Bank depositors are at extreme risk.  Sprott says, “The shocking thing to me is, obviously, most governments now have put into place legislation or rules in their banking systems for bail-ins . . . . And the fact that all these countries are doing this means . . . this is what’s going to happen.”  Sprott goes on to say, “That is the ultimate win for precious metals, and God knows what the price would be if it turns some of those depositors into people who need to own gold and silver.” 
Sprott says extreme physical demand for gold and silver is draining supplies.  Sprott predicts, “Somebody is going to fail here.  All the data I look at says the Western central banks . . . that have been selling gold are running on fumes now . . . so, it’s very close at hand.”  Join Greg Hunter as he goes One-on-One with Eric Sprott, President and CEO of Sprott Asset Management
See the entire article and watch the interview here:
Lately we have been selling a lot of silver at very low prices from $24 to $ 26.50 per ounce.  Those prices are like several years ago when we got in this game, and none of my customers who bought silver even much higher are willing to sell any because they understand what Mr. Sprott is saying. The whole banking industry world wide is in big trouble and every day I get new articles by many different people confirming that, and the orders just keep coming in. We did one at 7 AM this morning for almost $5000.
We have brought millions of dollars of silver into Montana and other states and made it disappear into the hands of patriots and concerned people nation wide.
To get an up to the minute quote just call me between 8 AM and 3 PM Mountain time on weekdays and we can lock your price on the phone.
800 889 2839
Paul Stramer KC7MEZ
SLC Distributing
PO Box 116
Eureka MT 59917
800 889 2839

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