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Eric Sprott continues:


“All you know is that there’s only a couple of things that you have to have your money in to be safe.  For example, I’m writing a letter basically suggesting to the silver producers, you know you guys have all of this money in banks, why do you have it in banks? 


Put it into silver, it’s a way better asset than having a bank deposit that pays zero interest rate and you take all of the risk of the bank on.  You know if enough people accept that thinking, I mean, at the margin, you bring all of those buyers in (to silver), who knows where the price is going to go?  But it won’t bear any relationship to where it is today.”


When asked to clarify what is happening with his company’s silver vehicle PSLV, Sprott replied, “Well, because we had to wait one year as a public company to file a new registration statement, we did that at our one year anniversary....


Continue reading the Eric Sprott interview below...




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“That gives us the right because it’s now called a ‘continuous filing,‘ it gives us the right on an overnight basis to raise money for the silver fund, which would be used to buy physical silver.


I’ve always stated that I’m not going to do anything that would negatively affect the premium of that fund.  In my ideal, we get a couple of institutions come in here and say, ‘Hey we’d like to take down a couple of hundred million bucks worth of silver, we love your vehicle.’  And then we might go and say, ‘Okay, I think it’s time to go out there and go raise some money to buy silver.’


So we’ll just have to wait for the right time and who knows when it happens?  Maybe we have to imagine that the silver price is moving up, which we haven’t been in that environment recently, but the interest can come back very quickly.”


The KWN audio interview with Eric Sprott is available now and you can listen to it by CLICKING HERE. 


© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


Eric King

KingWorldNews.com

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