Eric Sprott: Organized G6 Bond Buying Will Send Gold to New Highs Prior to End 2012

August 3, 2012 By 7 Comments

Newsmax has released an excellent interview with our friend Eric Sprott of Sprott Asset Management.
Sprott shares our recent sentiments that the Fed is not likely to announce QE3 at an FOMC meeting, but rather on an upcoming Sunday night in coordination with a massive announcement by all G6 countries.
Sprott states he is ‘convinced‘ gold will be at new all time nominal highs by the end of 2012!

“The world is hoping for some monetary stimulus from the G6 countries. I would not be surprised at all that some Sunday night we’ll get some announcement that all governments are going to buy more of their government bonds, maybe some organized action by the G6, which I think will just send gold moving significantly higher. I’m pretty convinced it will be at new highs before the end of the year. It’s not even that relevant to me what it is exactly at the end of the year”

Sprott’s full MUST WATCH interview below!

 


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Comments

  1. Avatar of UglyDog UglyDog says:
    August 3, 2012 at 12:13 PM

    Funny now how Sunday nights are becoming the PTB’s go to day for the “big” announcements.

  2. Avatar of JerryMatt JerryMatt says:
    August 3, 2012 at 1:15 PM

    I don’t want to be pessimistic, but I’ve been hearing this same hype too long. I deeply love Eric and the rest and respect them all, but until JPMorgan and the rest of the  FED bank bullion manipultors are all put to rest and I mean sent to HELL, I’m not buying anymore pie in the sky. I’m having enough trouble controlling my blood pressure as it is, and I am 100% IN! I’m still waiting for Bill Murphys crystal ball predictions to come true in August….29 days and counting

  3. Avatar of C6 C6 says:
    August 3, 2012 at 1:19 PM

    I think the safest plan for me is to KEEP STACKING.

  4. Avatar of PowerBall PowerBall says:
    August 3, 2012 at 1:25 PM

    This sounds eerily similar to what Jim Sinclair recently stated.  Everything will happen on the weekend just before markets start to open.

    We can only assume the well connected and insiders will know a few days ahead of time which will create a rapid Friday market rally — similar to whats happened today!  Hmmmm?

  5. Avatar of Da yooper Da yooper says:
    August 3, 2012 at 1:51 PM

    I just dont see how this will happen when you have the US government JPM & Sucks manipulating the PM’s they have proven they have deeper pockets than the rest of the world combined

  6. Avatar of StackerX StackerX says:
    August 3, 2012 at 5:18 PM

    I agree with what Sprott said. I dont believe the Fed will announce QE3 at Jackson Hole or on Sept 13-14. The Non Farm payroll today was 163,000 jobs added. The market expected at least 100,000 jobs. So as far as the markets see it the economy is improving. But we all know better I hope. We realize how rigged and manipulated the government reports are. The non farm payroll report has a tolerance of 100,000 jobs + or -, so the report could easily be at 63,000 instead of 163,000. I believe its closer to 63k. I had a feeling this report would look more positive and the next two should be as well. After all it is a election year.

    If QE3 isnt annouced before Sept 15, be prepared to see metals fall in my opinion temporarily. My opinion has been since Dec 2011 that Silver will probably drop to roughly $22-23 then should start climbing from there. Maybe briefly late Sept early October. But once it starts climbing watch out! You will probably kick yourself for not buying when it was under $30 per oz. I see it roughly in the $30 range by the end of the year. But in the 1st quarter 2013 when the fiscal cliff is kicked down the road and we get a debt downgrade Silver and Gold should see a spike up. Silver closer to $40 and Gold closer to $1,800. 
    QE2 never ended. The only reason they would announce QE3 is to keep investors in the stock market. So if the dow would get fairly close to falling under 10k or the S&P under 1k thats when they will make the announcement.
    In order for that to happen investors have to lose faith in the markets. Another Debt Ceiling dispute and Debt Downgrade could bring it closer to 10k but it will need an unexpected event to pull it under 10k like a bankrupt JP morgan for instance. I see this black Swan event happening anytime. When it happens QE3 is not more than a week away. I believe the black swan event will be war with Iran. After Obama has won reelection. War with Iran will shoot Oil per barrel past $200. The war should serve as a good distraction from the US debt downgrade in probably January or early February.
    When QE3 is announced Silver will breach $35 resistance and probably double within a few months. There will probably be a few margin calls attemted to restrain it but I believe it will have no effect. If Silver jumps to $60-70 most likely food prices double and gas shots past $6-7 per gallon. Silver at $70 in 2013 will probably make anyone feel stupid for not buying Silver when it was under $30 or Gold under $1700.
  7. Avatar of croc987 croc987 says:
    August 3, 2012 at 9:21 PM

    JerryMatt–couldn’t have said it better. PTB will manipulate until they can’t. 

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