In the aftermath of the gold and silver plunge, today billionaire Eric Sprott spoke with King World News about the ongoing war in the gold market. He also issued a very big warning to Western central planners, and in particular the Fed. Below is what Sprott, Chairman of Sprott Asset Management, had to say in part II of this remarkably powerful interview series.
Eric King: “Eric, we have the Fed decision coming up next week, and you and I are starting to believe they are not going to taper. In that environment you (as the Fed) wouldn’t want to have gold launch from higher levels. You would have to smash it (gold). That’s exactly what we’ve seen.”
Sprott: “I’ve always believed that the Fed is in a very difficult situation and the ‘taper’ was just talk. And we’ll see whether they ‘walk the walk’ or just ‘talk the talk.’ As you know, Eric, yields have doubled over the last 12 months, and in particular with the reintroduction of the taper talk.
We know that there is massive selling of bonds, whether it’s the Chinese, or the Japanese, and I would imagine a lot of the emerging countries are now selling US bonds….
Continue reading the Eric Sprott interview at King World News…