March 14, 2012

Eric Sprott Silver

What is happening to gold and silver is stunning. When he is looking at the silver market, in 30 minutes time span we had sellers of 225 million equivalent paper oz of silver, in a market that in one year silver miners can only produce 800 million ozs. So again, it’s paper markets that overwhelm the physical market. It’s stunning to me that on day like Feb 29, the world traded 500 million ozs of silver.
No rational person could believe it had anthing to do with the real market of silver…
Eric Sprott via a recent King World News Interview

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Eric Sprott is a Canadian hedge fund manager and founder of Sprott Asset Management. He became a billionaire on paper with the initial public offering of Sprott Inc., the parent of his Sprott Asset Management firm.