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Rick Rule continues:


“It is certainly my belief that gold will continue in an uptrend that will take silver with it.  One of the things we’ve been talking about during the course of this interview, Eric, is the impact of asymptomatic events on markets.  I think, in the context of the gold market, it’s important to note the number of asymptomatic events, so-called black swans on the horizon that are like a flock coming at us.


Europe has receded in the news a bit, but it’s interesting the problems haven’t gone away.  There are a number of countries, up to and including France, that have difficulties.  There is also the fact that the European banks are essentially bankrupt.


On the other side of the Atlantic, here in the US, we have our own economic difficulties.  If you add to that political instability in Iran and you look at any one of a number of circumstances that could greatly destabilize capital markets, greatly destabilize the world and investor confidence, any one of these events could have a profound impact on gold.


What we know about the latter part of the 1970s bull market in gold is that a lot of the dramatic moves were in response to asymptomatic events that took place....


Continue reading Rick Rule interview below...  




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“This shook investor confidence and promoted the ‘fear’ trade or accelerated investors tendency toward gold, which promoted the ‘greed’ trade.


So, in terms of talking about things which can propel gold and silver in this coming year, in addition to things like nervousness regarding the US dollar, there are a whole range of asymptomatic events that could give you the type of dramatic moves that people remember from the 1970s bull market.”


When asked about silver specifically, Rule stated, “I certainly believe in the set of circumstances that Eric Sprott describes, which is 100 times more silver being traded than is available for delivery.  If there is a failure to deliver in the futures markets and silver goes to a cash basis, you can pick a price to the upside. 


It would certainly be a price that would make silver producers ecstatic.  Further to that, Eric Sprott has urged silver producers to hold some of their cash in physical silver.  We think withholding silver from the market increases the probability for a failure to deliver in the futures markets, which, of course, we think would be a very interesting event for silver speculators.”


Rule also had this to say regarding oil trading above $100: “It points to the tightness in supply and demand.  All of the pundits are pointing to the fact that oil is above $100 solely as a function of Iran.  That isn’t true.  What happens is that you have a very narrow balance between supply and demand worldwide.


Yes, Iran has something to do with the spike, but the underlying theme is the margin we produce, worldwide, over consumption, is perilously thin.  It would be easy to see $150 to $160 oil from a fundamental basis and it would be easy to see $200 oil if the Straits of Hormuz are closed.  This type of price escalation would be quite shocking to people globally.”


© 2012 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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