Today billionaire Eric Sprott spoke with King World News and just issued one of the most dire warnings of 2015.
Today Billionaire Eric Sprott (pictured below) issued one of the most dire warnings of 2015
Dire Warning From Billionaire Eric Sprott
Eric Sprott: “I don’t think there is any doubt about the world economy rolling over. China has been the major buyer of all products and they’re not holding it together here. They’ve experienced a market crash already, with these huge amounts of debts that the Chinese have taken. The Chinese have created more debt than anybody. Their debt outstanding has increased remarkably….
Continue reading the Eric Sprott interview below…
“The debt is accelerating way faster than the economy is growing. And the economy is the engine that produces the earnings to pay the interest on the debt. Well, if the engine starts misfiring, who is going to pay the interest and how do you pay off the principal?
Full-Blown Chaos Now Transitioning Into Carnival Time
We’ve had some companies in China that have defaulted already. Obviously there has been a huge amount of borrowing on rather easy terms (low interest rates), and I think there’s going to be a price to pay for that in the not-too-distant future. We see it manifesting every day in things that go on in China, whether it’s the slowing down of the economy, the stock market faltering, stocks that don’t trade, or the government having to buy stocks. It’s almost carnival time over there right now.
Eric, I take great comfort that the people in our camp were the people that saw the Nasdaq crash coming. We also saw the 2007 – 2008 crisis coming. And it’s very clear to me now that gold is going to be heading a lot higher. It’s shocking that it’s taken this long, but it’s quite obvious gold is the place to have your money. We are getting more and more people in the camp all the time, and sooner or later we are going to win the day.” ***Eric Sprott's remarkable audio interview has now been released and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW. The written interview only contains a tiny portion of what Sprott had to say in his outstanding audio interview. Sprott discusses the greatest danger facing the world today, the coming financial carnage, what he is doing with his own money right now, the gold and silver markets, what surprises to expect this year and much more.
ALSO JUST RELEASED: The Most Dangerous Bubble In History And Why The Central Banks Are Now In A Panic CLICK HERE.
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The audio interviews with Eric Sprott, John Mauldin, Stephen Leeb, Egon von Greyerz, Nomi Prins, Gerald Celente, Andrew Maguire, Michael Pento, Dr. Paul Craig Roberts, Rick Rule, Bill Fleckenstein, Robert Arnott, David Stockman, Chris Powell, Dr. Philippa Malmgren, Marc Faber, Felix Zulauf and Rick Santelli are available now and you can listen to them by CLICKING HERE.