Today billionaire Eric Sprott told King World News that the demand for physical gold is now overwhelming Western central banks. Sprott also said orchestrated price smashes in the paper gold market have been used in a desperate attempt to frighten investors and keep a further groundswell of demand from coming into gold.
This is the third and final in a series of interviews with Sprott that has now been released which reveals the increasingly desperate situation Western central planners face as we head into 2013.
Eric King: “What has you worried going forward?”
Sprott: “What has me worried as an investor is that we are up against some powerful forces. I look at the minutes of the (Fed) meeting as, okay, here they go, they are trying to force the price of gold down. It’s a fight every day. I mean it’s trench warfare. And maybe they can convince people that they shouldn’t own gold. They are trying their damnedest.
Luckily we have many allies on our side these days that weren’t allies before. We have the Chinese buying, the Russians buying, all sorts of countries are buying gold, and in large quantities. We see the American public buying gold, Canadian public, Europeans (also) buying gold and silver….