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Eric King:  “Eric, after gold bottomed in 1976, gold goes from $108 to above $850, so about an 800% advance.  If gold did that today you would be talking almost $10,000 gold.”

Sprott:  “Yes.  And quite frankly, Eric, that’s a distinct possibility, given the passage of time....

Continue reading the Eric Sprott interview below...


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“It took time to go up that 800% -- it took 4 years.  So it’s not that difficult to imagine, I’m only looking at 1 year in this conversation, but 4 years from now you could be somewhere in the $5,000 to $10,000 range with the amount of printing and debasement that’s going on.

And of course this financial situation that all of these governments find themselves in -- they are essentially broke.  And if governments are broke, then you don’t want to have your money in a bank.  So you’ve got to put it in gold.  You could imagine where you get this tidal wave of interest in gold, which we already have by the way -- certainly in China and India.  I can (also) sense that there are a lot of people refocusing on gold and silver today, which is manifesting itself in the prices. 

So it’s not too hard to imagine there could be a situation where there is a great run on gold.  I’ve said many times that I think there is a shortage of gold, and there has been a shortage of gold for a long time.  This got particularly acute late last year and early this year, which I think is what caused the raid.  Of course it (the raid on gold) totally backfired as demand just skyrocketed.

We see all of these weird things like this gold leaving London to go to Switzerland.  I mean that’s a serious amount of gold -- almost 800 tons in six months.  800 tons is about 1/3 of (annual) mine supply, in half a year.  If it kept going at that pace it would total 2/3 of (annual) mine supply for a whole year.

So there are all of these things going on in the gold market that tell you there is a shortage.  Our own analysis of the supply/demand (also) tells us there is a shortage.  The GOFO rate being negative, backwardation in gold, COMEX inventories going down, shipments from London to Asia, the activity on the Shanghai Gold Exchange, they are all saying the same thing (that there is a shortage of available physical gold).

And as most of your listeners (and readers) know, I think everyone has made a very compelling case of the fact that this smack down was engineered.  So the snapback could be quite dramatic.”

IMPORTANT - The is without a doubt one of the most powerful and important interviews that billionaire Eric Sprott has ever done.  Sprott discusses what he believes is the greatest investment opportunity he has ever seen in his lifetime, the remarkable moves he sees coming in gold and silver, as well as the coming financial collapse.  Eric Sprott’s 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, Egon von Greyerz, Michael Pento, James Dines, William Kaye, Grant Williams, Dr. Paul Craig Roberts, Gerald Celente, Hugo Salinas Price, Art Cashin and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.

Eric King

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