GATA is set to hold the Gold Rush 2011 conference in London this year, with returning speakers Eric Sprott of Sprott Asset Management and Brian A. Hinchcliffe, CEO of Kirkland Lake Gold.
The event, sponsored by Sprott Money, will be held from August 4 to 6 at the Savoy Hotel in London, England.
"One of the things we should look at is the trading of silver in the paper markets, I mean the Comex and the SLV. Last week it averaged 1.2 billion ounces per day. There is only 700 million ounces mined in a year. There is only 33 million ounces of physical silver that is available for delivery by the commercial shorters. If something like 3% of the people that were trading silver in one day demanded physical delivery, there would be no silver on the Comex.... The key market is the physical market. I don't think this raid is going to work."
"David Morgan hosts a call on Saturday, May 14th about silver that will be shocking to most! Includes and drive-by shooting and the Fed Reserve caught doing something illegal. Guest included, Eric Sprott, Bill Murphy, Rob Kirby, Bob Quartermain, Sean SGTReport and James Anderson in for Mike Maloney."
“I agree with the prices of precious metals. I’m not as much of a bull on base metals...I still worry about the financial system, it’s massively over-levered and will still come undone.”
SPROTT SAYS GOLD IS NOW THE WORLD'S RESERVE CURRENCY
SPROTT SAYS SILVER WAS `MANIPULATED' DOWN IN PRICE
SPROTT SAYS PEOPLE IN IRELAND, GREECE ALREADY FLEEING BANKS
SPROTT SAYS SAVERS WILL FLEE BANKS TO PUT MONEY INTO GOLD
Naturally he will be called a nutjob and a tin foil-hat wearing moron, until he is, of course, proven right, at which point the conspiracy theory becomes non-conspiracy fact.
Max Keisers guest Eric Sprott talks about the commodities prices, and how the sudden downturn in prices is a temporary blip from profit takers. The underlying problem of G20 governments smashing the value of their currencies remains, so people continue to put their savings into anything that the governments cannot print or easily get their hands on.
"There are a lot of great things about silver going down,” Sprott said in a keynote presentation at the Hard Assets Investment Conference Monday. “We’re starting up a (new) silver fund tomorrow – available only in Canada. A week ago we could have bought 1 million oz. of silver and now we’ll be able to buy 1.3 million (oz.) for the same money,” he added.
- Read the full interview at Resouce Investor.com here:
And another major source of physical demand in the already very undersupplied silver market appears. Just released from Sprott Asset Management, who recently added to the perfect storm in silver by cashing out on the record PSLV premium and converting proceeds to miner stocks: "The Sprott Silver Bullion Fund is an innovative offering, being the first mutual fund in Canada to invest primarily in unencumbered, fully allocated silver bullion. The Fund's objective is to seek to provide a secure and liquid investment for investors seeking exposure to silver bullion without the inconvenience associated with direct investment." We can't wait to discover how many tons of silver this mutual fund will soak up imminently, and where the always exciting adventure of "COMEX registered silver" takes us next... Full release:
Sprott Asset Management Expands its Industry Leading Family of Precious Metals Funds with First Silver Bullion Mutual Fund in Canada
TORONTO, May 9 /CNW/ - Sprott Asset Management LP ("Sprott") is pleased to announce that it has expanded its industry leading family of precious metals funds with the addition of the Sprott Silver Bullion Fund.
Sprott now offers five different precious metals funds including, Sprott Gold & Precious Minerals Fund, Sprott Gold Bullion Fund, Sprott Silver Bullion Fund, as well as the exchange-traded Sprott Physical Gold Trust and Sprott Physical Silver Trust.
"We have been very early and active investors in precious metals and we strongly believe that all investors should have an allocation to precious metals in their portfolios. With our newest fund, investors will have greater choice as to how they choose to gain exposure to this asset class." says James Fox, President of Sprott Asset Management.
The Sprott Silver Bullion Fund is an innovative offering, being the first mutual fund in Canada to invest primarily in unencumbered, fully allocated silver bullion. The Fund's objective is to seek to provide a secure and liquid investment for investors seeking exposure to silver bullion without the inconvenience associated with direct investment.
"Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."