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Eric King:  “Eric, for the silver bulls that are out there, what about the silver market?”


Sprott:  “There is an interesting thing going on there, Eric.  We get data out of India.  They consumed slightly less than 2,000 tons of silver late year.  It would appear they are going to consume 6,000 tons this year....


Continue reading the Eric Sprott interview below...




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“It might be a little early for me to say that because as gold has been restricted, that number might even be well above that (total of 6,000 tons of silver).  In the first 8 months there were something like 4,000 tons (already consumed), so we are just extrapolating that trend, but the trend was gaining strength as the year went on.


But when you (as India) buy an extra 4,000 tons of silver in a year, you are buying an extra 17% of the (entire global) market.  So we have a new entrant into the (silver) market who takes down 17% of the supply, and the price goes down.  It’s the same analogy as China buying gold.  They (China) buy 25% more of the (entire global) market and the price (of gold) goes down.


Those things don’t hold together.  Logically this should not happen (the price of silver going down).  So, I’m very optimistic on silver.  The US Mint silver sales have just been booming here.  They are still 50/1 in terms of the physical relationship to gold at the US Mint.  We (only) produce 11-times more silver (than gold).  We (only) have about 3-times more silver (available) for investment, and yet investors, via the (US) Mint, are buying it at a 50/1 ratio to gold.  That cannot persist too long without the price of silver going up (substantially).”


IMPORTANT - KWN will release interviews with Eric Sprott, Grant Williams & others all weekend.


IMPORTANT - The is the third in a series of powerful interviews with billionaire Eric Sprott.  Sprott discusses the gold and silver action, what is happening behind the scenes in the ongoing war on gold and silver, the remarkable moves he sees coming in gold and silver, as well as the coming financial collapse.  Eric Sprott’s powerful KWN audio interview is available now and you can listen to it by CLICKING HERE.


© 2013 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 This material may not be published, broadcast, rewritten, or redistributed.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.


The audio interviews with Eric Sprott, Grant Williams, Rob Arnott, Andrew Maguire, Art Cashin, Egon von Greyerz, Bill Fleckenstein, David Stockman, Robin Griffiths, Jim Grant, William Kaye and Dr. Paul Craig Roberts are available now. Other recent KWN interviews include Marc Faber and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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