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Sprott:  “I think the raid (on gold) was meant to shake people out of gold.  As you know various people have said, ‘It’s an eight-sigma event,’ or ‘A seven-sigma event.’  We’ve calculated it to be a six-sigma event, which is one that happens every 13 years.


Those who have calculated it (the raid on gold) as as an eight-sigma event said it could only happen once every million years....


Continue reading the Eric Sprott interview below...




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“If it’s a seven-sigma (event) I think it’s every 4,500 years, which would suggest that this was a very anomalous occurrence that never should have happened. 


I think the plan was, let’s knock the hell out of gold and let’s get people to cave on owning gold.  The interesting thing was the exact opposite happened.  There is not a data point on gold where we don’t see changes in demand by 100%, or even many hundreds of percent.


Whether it’s US Mint sales of gold in April, I think they went up by 1,000%, the Canadian Mint sales are up 128%, we see Chinese data where I think the number was up 300%.  I think the World Gold Council said that India would import at least 100% more than they did last year (during the same period) in the second quarter.


So we see all of these numbers are in hundreds of percent change, whereas the supply of gold from the mining side will probably be down.  The supply of recycled gold will be down significantly with the price having come off here.  So I think that this raid totally backfired, and unleashed a torrent of buying. 


And ultimately the physical is going to dominate the COMEX price as determined by a bunch of guys trading paper ... I would encourage everyone to, one, hold tight, two, if they can, increase their position.”


This is the third in a series of interviews with Sprott that has now been released today which discusses the chaos behind the scenes that central planners are dealing with, the massive surge in demand for physical gold and silver, ongoing bank runs and what has him worried going forward.  Sprott also spoke about silver at length and much more.  In addition to the written interviews, the KWN Eric Sprott audio interview is available now and you can listen to it by CLICKING HERE.


The audio interviews with Eric Sprott, Dr. Stephen Leeb, Rick Rule, Gerald Celente, Jim Grant, Michael Pento, Egon von Greyerz, Andrew Maguire, Art Cashin and William Kaye are available now.  Also, be sure to hear the other recent KWN interviews which include MEP Nigel Farage, Marc Faber and Felix Zulauf 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.


Eric King

KingWorldNews.com

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