Friday, January 11, 2013

We Are In The Biggest Ponzi Scheme Of All Time

“I suspect there was one reason, we (the West) want to keep the inflation signals off people’s radar screen. But I don’t think they (Western central planners) are going to win.

If everyone continues to print like they have, and there is certainly no sense that anyone is stopping, in fact, there is even more printing now than the last time we spoke and by a large factor, the price of gold and silver have to go to new highs here. That’s fully what I expect to see happen this year.

Eric, one of the issues that all of us precious metal investors have is the (mining) stocks have acted very poorly. I’ve always said the reason the stocks act poorly is because we can’t get momentum in the gold price.

The move up to $1,750 was accompanied by some rally in the gold stocks. The first move the stocks went up something like 35%. Then we get this pummeling going on that is totally orchestrated, and people lose their nerve on these things.

But with all of the data that is available to them, with some simple analysis of where we are, I mean we are in the biggest Ponzi scheme of all-time. We are just printing money and people have to realize it’s not a winning proposition.

We have been doing this since 2008. We get program after program. We’ve been doing it since 2000 in Japan. All to no effect. All we end up with is a stretched out balance sheet. Sooner or later we are going to pay the piper for it, and when we pay the piper, you better be in gold and silver, other precious metals and real things.”

- Eric Sprott via a recent three part King World News Interview, read the second interview here: