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Sprott 'disgusted' with market-rigging Scotiabank and 'loser' CFTC
10:06p ET Friday, August 21, 2020
Dear Friend of GATA and Gold:
Mining entrepreneur Eric Sprott, in his weekly market review with Craig Hemke for Sprott Money, says he is "disgusted" with Scotiabank on account of the bank's being heavily fined this week for rigging the gold and silver markets.
Sprott also denounces the U.S. Commodity Futures Trading Commission, calling it "such a loser organization," for failing to uncover market manipulation when it purported to investigate the silver market years ago. Indeed, Sprott asks, why isn't the CFTC investigating the strange recent plunges in the silver price?
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Sprott and Hemke also discuss the purchase of Barrick Gold shares by Warren Buffett's Berkshire Hathaway. Sprott remarks that gold and silver mining companies with earnings and dividends remain underpriced.
It's doubtful, Sprott says, that the exchange-traded funds GLD and SLV really possess the metal they claim to have.
Sprott notes the recent sharp decline in the gold-silver ratio and believes that it could continue to decline sharply.
The interview concludes with discussion of a few mining companies in which Sprott has or has had an interest.
The interview is 25 minutes long and can be heard at YouTube here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
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