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Eric Sprott talks to James Turk in Munich

Subscribe to our newsletter at Eric Sprott, Chairman of Sprott Asset Management, and James Turk, Director of the GoldMoney Foundation, meet in Munich and talk about the Munich Precious metals conference (Edelmetallmesse). They comment on Eric Sprott’s speech at the conference and how increasing interventions by central banks, from zero interest rates to money printing and bond buying have completely distorted the financial markets. They speak about the very hard choices between austerity and increasing stimulus and how both will bring on a meltdown, whether bankruptcy or hyperinflation brought on by money printing. They talk about the huge leverage in the banking system and the risk inherent in the system. People are only now starting to understand counterparty risk. They explain that 20-to-1 and even higher leverage is common in the banking system. They talk about the disparities between the physical market and the paper silver markets. Eric talks about supply and demand and how the upward pressures on silver price from demand growing much faster than supply are not being accurately reflected. A 900 million ounce silver supply simply cannot cope with a 380 million ounce increase in demand and maintain current prices. Eric also explains that investment sales of silver are 50 to 1 in volume compared to gold and that this means a decreasing gold/silver ratio. They talk about Eric’s book and how his analysis shows that the US government, with a GDP of 15


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19 Responses to "Eric Sprott talks to James Turk in Munich"

  1. 0Mellennium0 says:
    Finally, the smart section of youtube!
  2. firefox666moll says:
    two TITANS.
  3. momentinpassing says:
    Socialism is an easy justification for higher taxes and controls and the vulnerable it supports and creates make wonderful targets for blame, but it is just that, a copartner and diversion from the real cause and real beneficiaries. Bankers, their war machine, and other co-agents. But bankers will put a bullet in my head or suicide me, so lets pretend the problem is the young person who failed to integrate into an artificially unstable and hypercompetitive society rather than billionaire psychos
  4. CrooksWithoutBorders says:
    I am a long term buyer of PMs. I have gotten to know a VP at one the largest bullion dealers. He indicated that the biggest class of purchasers are the Federal Reserve and Treasury employees. That says it all!
  5. obamaizmanchurian says:
    interesting they only raise margin requirements on silver but not on oil
  6. biglemoncoke says:
    Please note the fact gold to silver ratio is only 16 to 1 before 1840, that does not sound recent to me.
  7. luckuy7 says:
    nice vid. thnx
  8. canadaed says:
    Wise men!
  9. maracanazo50 says:
    Buy Only Goverment Minted Gold and Silver…Private Minted Coins or Bars may be illegal to own when Gold Hits $65,000 per oz and Silver Hits $900 per oz
  10. IlKimJung says:
    Back in ’09 Bernanke expanded the base reserves at the FED by 15 times.
    That is what he said in a speech.
    Then he went on a buying spree.
    Of which 100% is garbage.
    So…now he is stuck between a rock and some hard place.
  11. ytgv3fc7 says:
    I honestly see few people doing the math on 16-to-1. Let’s try:
    1761 x r = Q1, 33.88 x r2 = Q2, Q2 x 16 = Q1
    r2 = r x 1761/542, log ( R x 1761/542 ) / log r = 2 (generally silver acts like a 2x ETF on gold’s USD price) : 2 x log r = log r + log 1761 – log 542
    log r = log 1761 – log 542 : 0.51176 : r = 3.249 and r2 = 10.5565
    for a 16 to 1 gold/silver ratio given observed market conditions the prices are:
    gold at : 5721 , silver at : 357 (16x 357= 5712 : rounding error on my part is the difference
  12. jonathans8 says:
    three people almost lost their job at the federal reserve when their supervisor caught them watching this
  13. blackswanflea says:
    Master Sprott has aged noticeably. I hope he’s well. Sprott and Turk together = feast!
  14. XXL1966 says:
    Being married these days is also very conservative i guess, so can i add my wife age as a percentage to it ?
    But because i’m conservative i only buy fysical gold and silver at spot price…
  15. MC100128763 says:
    Grabbing silver hand-over-fist!!
  16. silvernail6 says:
    “Careful People”……hmmm-hmmm You’re looking at them
  17. aquapurity says:
    Two of the best.
  18. dispersingweight says:
    Like, faved. Oh and still stacking physical silver like a boss.
  19. hazeee123 says:
    I love listening to these two dish out they wisdom about money and PMs.

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