Spot The Difference: Eric Sprott Questions Central Banks’ Gold on MSM & Alternative Media
It’s amazing how politically sensitive gold is to the MSM, especially when it touches on central banks’ gold.. Watch the two interviews below featuring Eric Sprott, CEO of Sprott Asset management discussing his recently published article “Do western central banks have any gold left???“.
Appearing first on Bloomberg TV, Sprott was asked whether he is as much a fan of precious metals today as he once was, “given the fact that they’ve treated you so poorly over the past 18 months”. His reply:
A little history is probably important here. Gold has gone from $250 to over $1700. It’s beat the Dickens out of every other asset class over the last 12 years…To specifically answer your question, am I more optimistic today than I might otherwise be? Absolutely. I wrote an article recently questioning whether the Western Central Banks had any gold left. We simply did a physical analysis of the people that are coming into the gold market and the changes that have happened since 2000, (and the supply of gold has not changed since 2000 on an annual basis, it’s still 4,000 tons). When you look at the fact that the central banks used to sell 400 tons annually, now they buy 500 tons. The ETF didn’t even exist in 2000, now they buy 300 tons a year.
Notice how he was immediately interrupted by Bloomberg host, Erik Schatzker, claiming that this sounds like a conspiracy theory… Watch the full interview at Bloomberg’s site, and return to watch Sprott interviewed on the same subject by Greg Hunter of USAwatchdog.com below. Mainstream or Alternative? Pick your choice.