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Showing posts with label eric sprott. Show all posts
Showing posts with label eric sprott. Show all posts

Sunday, December 8, 2013

Eric Sprott: My greatest fear is that governments are broke

On Dec. 6, billionaire and asset manager Eric Sprott spoke on the current economic climate surrounding nations and central banks, and how the insolvency of governments is creating the biggest fear for the global financial system.
"King World News: What is your greatest fear going forward?  What’s your worry?
Eric Sprott: My greatest fear is that government’s are broke.  It’s so obvious, I mean, that’s the easiest call in the world.  And to think that 1000 economists have signed up for this (The Inform Act ), including 15 Nobel prize winning economists, is just tantamount to recognition of what the elephant in the room is."

Read more on this article here...

Thursday, March 22, 2012

Nanex: silver manipulation at the speed of light

For years, silver traders such as Erik King of KingWorld and Eric Sprott out of Canada have been preaching to the masses on silver manipulation done by banks such as JP Morgan to assist the Fed in propping up a dead fiat currency (dollar).  Their pleas have mostly fallen on deaf ears, except to those who hold a large stake in silver, and silver prices.

That changed on March 20th when undeniable evidence emerged from NANEX of the banking cartels using high speed computer algorithms to force the price of silver down at the speed of light.  So much, so fast, that it was pumping out 75000 down trades a second.

Courtesy of Nanex we now have direct evidence of just what the reflexive market (in which derivative products such as ETFs influence underlying assets) goes to town by taking silver to the woodshed at a whopping 75,000 times per second! From the broken market sleuths at Nanex: "On March 20, 2012 at 13:22:33, the quote rate in the ETF symbol SLV sustained a rate exceeding 75,000/sec (75/ms) for 25 milliseconds. Nasdaq quotes lagged other exchanges by about 50 milliseconds. Nasdaq quotes even lagged their own trades -- a condition we have jokingly referred to as fantaseconds." Translation: so desperate was the desire to crush silver at precisely 13:22;33, that the Nasdaq order flow directive ended up moving faster than light. - Zerohedge

It gets even better when NANEX provided the charts to prove it.

Saturday, January 21, 2012

Silver moves well over $1 on Friday due to QE3 expectations and Sprott PSLV

Silver had a wonderful day on Friday, sparking a 5% move to close at $32.30.  Along with silver, gold, Platinum, other metals and the Dow all increased by the end of trading.

What were the catalysts for these moves?  It may have been a two-fold action.  First, the dollar was in decline throughout the day, and the Euro has recovered around 300 bps since its 126 lows earlier in the week.  This could very well signify that the markets are factoring in QE3 by the FED, and the rumored $1 trillion in quantitative easing.  Secondly, and particularly for silver, buying may be in play by Eric Sprott for his PSLV etf, in which he guarantees all contracts will be backed by physical silver, as opposed to the JP Morgan manipulated SLV and GLD on the American exchanges.

Here is the kicker as well... if $300 million purchased in silver can lead to a 5% increase, how much could a $3 billion or more move cause the price to climb?

"Today’s incredible move was the culmination of a comment made by UBS analyst Edel Tully. He stated that hedge fund manager Eric Sprott may be in the market buying spot futures in a private letter to his clients." And even as the premium dropped, the price of spot silver increased by over 5%, on the speculation of silver being taken out of the market and delivered to Sprott.

So to summarize: speculation that $300 million in physical silver may be taken out of circulation raises the price of the underlying by 5%. Does that mean that a $3 billion follow on would result in a 50% rise in spot; $30 billion in 500%, and so on? - Zerohedge

Tuesday, January 10, 2012

Gold enjoys rebound from 200 DMA support level

Gold is up over $25.00 this morning on stronger commodity news, and a strengthening Euro.  The yellow metal rebounded back over the 200 DMA support level and appears to be consolidating for the next run after a 30% pullback.

Remember when various economics professors and self-anointed Ph.D'ed market timers said to sell everything because the gold 200 DMA had been breached to the downside, never to be crossed back again, to which our simple retort was, "Many are doing their damnedest Ph.D.-best to somehow fuse economic theory and technical charting, and state that a breach of the 200 DMA in gold is indicative of imminent price collapse.
So much for technicals. Sure enough: less than a month later, and $100 higher, gold is right back above the 200 DMA. Oh, and we expect to hear nothing from said academics for a long time. - Zerohedge

Chart courtesy of Zerohedge

When it comes to gold and silver, there are a few names (Bob Chapman, Eric Sprott, etc...) that are worth listening to.  Everyone else... hasn't a clue to be found in their baskets of BS.

Saturday, January 7, 2012

Silver now in backwardation as paper and physical prices much different

Wall Street always wants people to focus on the paper products they sell, and in doing so, try to establish false prices for commodities such as gold and silver.

Fortunately, those who own physical metals are usually not fooled when the paper prices fall, or rise based on rumors and manipulation.  This can be expressed in no better terms than backwardation.

Take for example Eric Sprotts PSLV etf which is truly backed 100% with physical silver.  Even as the futures price at the CME and NY markets have fallen some 30%, the premium for the actual physical silver has JUMPED 30% to equate the actual price value vs the paper price. can either try to procure gold and silver at a retail merchant, or one can look to the premium of a dedicated physical ETF over spot. Such as Eric Sprott's PSLV which as of today is trading at an all time high premium of 30%! In other words, someone is willing to pay up to 30% over spot for the right to be closer to the physical metal than merely have a paper claim on a paper claim (pre hyper rehypothecation and what not). - Zerohedge

Courtesy of Zerohedge

So always check and double check the claims of price falls on silver and gold, especially if you hold the physical metal.  Supply and demand rule the actual price much more than bank determination to prop up the fiat dollar, and keep the people in the dark on the metals true value

Wednesday, November 9, 2011

James Turk and Eric Sprott discuss gold

Two of the leading economists and investors on sound money, gold and silver sit down in a great interview at the Munich precious metals conference.

With Angela Merkel's inquiry into leaving the Euro Zone today, the discussion of gold and money has never been greater.

Wednesday, June 15, 2011

Eric Sprott speaks on paper versus physical assets on King World interview

Eric Sprott - We’re Headed Over a Cliff, Be Wary of Paper Assets,_Be_Wary_of_Paper_Assets.html

MP3 audio of the interview at the bottom of the article.

Tuesday, May 17, 2011

Silver bug Eric Sprott discusses silver raid on market with Max Kaiser

Silver bug, and precious metals analyst Eric Sprott discusses last week's silver raid by the CME, and the fall of silver prices by over $6 in a single day with Max Kaiser in a new interview.