Zlato a stříbro – několik citátů

Dnes pokračuji ve výběru citátů významných lidí pohybujících se v sektoru drahých kovů. Tentokrát jsem vybral dva zástupce firmy Sprott Asset Management, jedné z nejvýznamnějších kanadských firem v oboru.

John Embry – chief investment strategist at Sprott Asset Mgmt

• The world is dealing with so much debt issuance, that it has produced debt indigestion. The debt saturation which will bring down the fiat currency system since it cannot be serviced. The solution they rely upon has been to print money in debt service. In the end, hyper-inflation will result.
• Austerity plans imposed on nations that struggle lead invariably to depression.
• The HUI major mining stock index should reach 840 at minimum. If gold hits $2000 (an easy forecast within 12 months), then HUI could double to hit 1200.
• He yells from the rooftops that the Western central banks do not possess the 30,000 tons of gold bullion. The bank ballast was sold into the market, long gone, not to be returned.
• He regards a rasied debt ceiling as no solution, simply a stayed execution for a short period. The great leveraged debt unwind is deeply entrenched since the failure of OTC derivatives in 2008. No meaningful intervention in this economic downward spiral will come since no reform or remedy was done surgically at the cause.

Eric Sprott – zakladatel stejnojmenné firmy (obchodovatelné na burze)

• The money printing (monetary expansion) is unbelievable, in his words. Suggested strategy is to continue purchasing precious metals in a dollar cost averaging scheme, which means to devote equal volumes of cash at regular price intervals.
• Doubters have littered the path all along since $400 gold through $800 gold. This is a secular bull market with much more to come. Wealth protection must be done in an asset free from debt.
• If QE3 is announced, gold & silver will go bonkers, in his words.
• Official solutions and programs to deal with the financial crisis have aided precious metals enormously, since they all involve debasing the USDollar currency. It is losing its purchasing power. The common theme is bank rescue and toxic bond redemption, which taints money.
• The risk of a string of bank failures in contagion is great. People are moving money out of banks and into Gold, in order to avoid having money trapped or lost.