Wednesday, June 22, 2011

Fund View: Sprott says buy oil stocks, dump natgas and uranium

"Buy oil stocks on high crude prices but sell uranium and natural gas, was the advise of a fund manager at Sprott Asset Management's energy fund, which invests in small and mid-sized Canadian companies."

- Read the full article at Reuters here: 

Sunday, June 19, 2011

In my heart of hearts I believe it was a manipulation

After a record surge in prices towards a record high just short of $50, silver crashed back down in May to around $32.

Many analysts have struggled to give a reason to these large swings, with some speculating the extreme depreciation was due to price manipulation. “In my heart of hearts I believe it was a manipulation. There was no market, it was a setup. They‘ve just pushed it down. It‘s ridiculous,” said Eric Sprott, CEO of Sprott Asset Management.

Looking ahead, Sprott is preparing for the next bull – run in silver if the US implements QE3. “A lot of that QE1 and QE2 are giving a tailwind to gold and silver. If you want to tell me there‘s going to be a QE3, I‘m going to tell you silver will hit $50 before we even know it,” Sprott added.

Read the full article here:

Saturday, June 18, 2011

If you Fear the Banking System, you go to Gold

“If you’re in Ireland today, you don’t have any money in banks, particularly if you’re non-Irish," he said. "If you’re in Greece you’re taking your money out. In Portugal you probably have concerns. If you have a fear of the banking system, you go to things like gold.”

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Sunday, June 12, 2011

Eric Sprott - Interviewed by King World News

Eric Sprott was interviewed recently by King World News on June 11th, such topics as Gold, Silver and the Ongoing Financial Disaster were discussed.

You can listen to the full King World News Audio interview, by visiting this the following link:

Saturday, June 11, 2011

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

“Well I’ve always believed the fundamental problem with the capitalist system if you will, is the fact that the banks are over-levered.  There is only one way to get rid of over-leverage and that is to shrink your balance sheet.  

I always find it interesting that every time a bank fails we find out exactly what the losses were and typically not only did the bank lose their capital, but they lost their capital six times over.  That’s the average cost, which really means that your dollar of assets was undervalued by about 30 cents on the dollar and I think that’s the case almost throughout the banking system.  So if we ever marked things to market, we would be in big trouble.”

Read the full interview here:,_Be_Wary_of_Paper_Assets.html 

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Thursday, June 2, 2011

Sprott Inc Reports a 66-per-cent jump in First Quarter Profit

Canadian asset manager Sprott Inc. reported a 66-per-cent jump in first-quarter profit, helped by a rise in assets under management.

Net income rose to $10.6 million, or 7 cents a share, from $6.4 million, or 4 cents a share, a year ago. Total revenue rose 54 per cent to $39.5 million.

Assets under management for the hedge fund manager rose 88 per cent to $9.7 billion.

Shares of Sprott, which was founded by Bay St. contrarian investor Eric Sprott and taken public in 2008, closed at $8.66 on Wednesday on the Toronto Stock Exchange.

- Montreal Gazette

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