Billionaire Eric Sprott: ‘There Isn’t A Solution To The Problem’ – ‘If The People Had Any Sense They Would Be Buying (PHYSICAL) Gold And/Or Silver’

Sprott – We’re Being Lied To, Even The 1% Is Having Problems (King World News, June 29, 2012):

Today billionaire Eric Sprott gave King World News an extraordinary interview, and it’s not the kind of thing you are going to see in the mainstream media.  Sprott told KWN, “…as much as we knew the 99% was having a problem, I can guarantee you the 1% is having a big problem today.”  Sprott, who is Chairman of Sprott Asset Management, also said, “the markets go up because the central planners want the markets to go up … The system is imploding on itself, but the central planners want everyone to think it’s fine.  They just lie to us.”

I’ve been asked before, is there a solution to the problem?  There isn’t a solution to the problem.  There’s things that might happen.  There’s a default that could happen.  There’s hyperinflation that could happen, but none of those would be deemed as solutions to the problem.  But one or the other or both is going to happen.

People should, rightly, have fear of having their money in paper instruments, whether it’s in a bank account or a bond.  If they had any sense they would be buying (physical) gold and/or silver.  That’s the only way to maintain your purchasing power.

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