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Central banks are suppressing gold and silver, Sprott tells The Gold Report

Section: Daily Dispatches

3:15p ET Monday, March 4, 2013

Dear Friend of GATA and Gold:

Interviewed by J.T. Long for The Gold Report, Sprott Asset Management CEO Eric Sprott couldn't be plainer about gold and silver price suppression.

"This will sound like a conspiracy theory," Sprott says, "But unusual things are happening in the gold and silver markets.

"For example, on Feb. 19, nearly an entire year's supply of gold traded on the Comex in a single day. The same volume of silver trading happened on the commodities exchange. You and I both know that the people selling that much metal cannot deliver it because it is just not available. Yet somehow they are out there, pounding down these contracts and keeping the price suppressed.

"I would hypothesize that the central bankers know their policy of printing money is the most irresponsible thing imaginable, and they are suppressing gold and silver prices to hide their irresponsibility. When one is printing that much money, gold and silver prices are the first things you would expect to rise. If we saw gold going to $2,000 per ounce, the price of oil would probably go to a new high and the price of agricultural commodities would go up. Then you would have a huge inflation problem on your hands.

"Based on my research, I believe the Western central banks have been surreptitiously supplying gold to the market."

The interview is headlined "Eric Sprott: Central Bankers Are Gaming Gold" and it's posted at The Gold Report here:

http://www.theaureport.com/pub/na/15052

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.



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