Eric Sprott's best interview yet; fame for Bill Murphy will mark gold's top

Section:

8:17p ET Monday, December 23, 2013

Dear Friend of GATA and Gold:

Sprott Asset Management CEO Eric Sprott has given what may be his best interview yet -- to USAWatchdog's Greg Hunter -- and it may be his best because he admits being a little aggravated by the counterintuitive action in the markets lately, particularly, of course, in gold and silver, where prices have fallen despite exploding demand. This can have happened, Sprott says, only because of central bank intervention in the markets.

Sprott believes that Western central banks told the Indian government, "You've got to stop your people from buying gold, because there isn't any gold left." (Rather than recognize the potential for its country to gain wealth and power, the Indian government of course took orders as if it was still a colonial subject.)

Sprott says he thinks the key signal about the exhaustion of Western central bank gold reserves was the German Bundesbank's inability this year to repatriate more than 20 percent of its gold from the Federal Reserve Bank of New York in less than seven years.

... Dispatch continues below ...



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Another signal, Sprott says, has been the occasional suspension of coin sales by the U.S. Mint, indicating that metal hasn't been available.

The interview is 22 minutes long and can be watched at USAWatchdog here:

http://usawatchdog.com/what-happens-when-you-have-to-admit-the-golds-not...

Meanwhile, interviewed by Al Korelin of the Korelin Economics Report, 321Gold.com proprietor Bob Moriarty defends Sprott against an unflattering article published this month by The Wall Street Journal (http://www.gata.org/node/13364). Moriarty says that the Journal's article will mark the bottom of the gold market and that the gold market's top will be signified when the cover of Time magazine features GATA Chairman Bill Murphy. True enough, maybe, but the mainstream financial news media are not likely to accept the fact of gold market manipulation any time soon, and that would give gold's bull market many more years to run. Besides, like Doctor Hook and the Medicine Show, Murphy and his GATA followers probably would settle for the cover of Rolling Stone:

http://www.youtube.com/watch?v=-Ux3-a9RE1Q

Korelin's interview with Moriarty is eight minutes long and can be heard here:

http://www.kereport.com/2013/12/22/defense-eric-sprott/

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

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