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Eric King:  “We have the LBMA eliminating reporting on silver lease rates, we covered that extensively with James Turk.  There is frustration out there.  How much longer can they keep gold and silver effectively manipulated?  Are we getting very close to where they are going to lose control of these markets?”


Sprott:  “That’s the $64 million question.  I wish I knew the answer.  You can’t know because the central banks’ balance sheets are totally non-transparent.  I can just tell you, Eric, I heard it’s possible the Chinese are going to start selling more gold coins to their citizens.


Some numbers were thrown out about how much they would buy and I thought, ‘My God, how could they buy that many coins when there is no increase in production?’  Here we would have another new entrant into the gold arena which wasn’t there ten years ago when we weren’t balanced (in terms of supply/demand) even back then.


In fact, Frank Veneroso suggested we had a shortage back in 1998....


Continue reading the Eric Sprott interview below...




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“So I don’t know when it (the manipulation) breaks.  I was hoping that we would see big physical demand on Comex here for the December contract.  We (still) have one more day to find out what it will be, but so far it looks like there might be as many 40,000,000 silver ounces on demand.


Presuming most of that (40 million ounces) is shorted by the bullion banks, they only have about 34 million in their inventory.  But the day is coming when those commercial sellers of paper are going to be called to task to deliver the real thing and there will be a failure somewhere along the line.


I just can’t tell you when it would be, but we certainly have the makings of it happening at any time.”


This is the second in a series of interviews with Sprott that will be released today which reveals what is going on behind the scenes with the increasingly desperate Western central planners and their gold and silver price suppression scheme.  The written portion above is just a small part of this extraordinary interview with Sprott. 


He discusses the most recent and very successful Sprott Silver Trust offering and how much physical silver they will be taking out of the market.  This is also the first interview where Sprott has been able to discuss the silver market because the offering is now closed.  In addition to the written interviews which will be released, the KWN Eric Sprott audio interview is available now and you can listen to it by CLICKING HERE.


The interviews with Eric Sprott, Gerald Celente, Stephen Leeb, James Turk, Egon von Greyerz, Michael Pento, Wilbur Ross, Don Coxe (BMO $538 billion) and Ben Davies are available now.  Also, be sure to listen to other recent KWN interviews which included Art Cashin (UBS $612 billion), and Nigel Farage by CLICKING HERE.


© 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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