Editor Vikram Barhat of the Advisor Group site features the expertise of Sprott Asset Management's two top executives, and according to them, the fundamentals behind gold are better than ever, and when you hear the mainstream media say the economic recovery is humming along -- believe them at your own portfolio's risk:
Eric Sprott, CEO of Sprott Asset Management LP, told a roundtable this month, "There is no recovery. We're just going into a more miserable situation by the day."
He adds, "We've had negative GDP; we have a 2% tax increase and 2% reduction in your paycheque [this year], causing your discretionary spending to go down by double that rate."
As well, current gasoline prices have hit a high compared to the same period in previous years. "I don't know how anybody could be optimistic about where we're going."
John Embry, Sprott's chief investment strategist, says the alarming pace of financial decay appalls him.
"We're in an unprecedented situation today where the sovereign governments of the world are in an absolutely unsustainable debt position," he says. "This is leading to unprecedented money printing and essentially negative interest rates." ...
"Gold's nobody else's liability and it has no counterparty risk; that is the best advertisement for gold," Embry says. "It's provided protection against destruction of wealth for centuries and we're at the cusp of another major chapter in its illustrious history."
He goes so far as to say now might be the best buying opportunity in the whole bull market.
"[Gold's] price has been really held back, the fundamentals have gotten better by the day," he says. "Yet, if you look at the price, it's been down -- totally out of whack with what's going on in the fundamentals."
Eric Sprott, CEO of Sprott Asset Management LP, told a roundtable this month, "There is no recovery. We're just going into a more miserable situation by the day."
He adds, "We've had negative GDP; we have a 2% tax increase and 2% reduction in your paycheque [this year], causing your discretionary spending to go down by double that rate."
As well, current gasoline prices have hit a high compared to the same period in previous years. "I don't know how anybody could be optimistic about where we're going."
John Embry, Sprott's chief investment strategist, says the alarming pace of financial decay appalls him.
"We're in an unprecedented situation today where the sovereign governments of the world are in an absolutely unsustainable debt position," he says. "This is leading to unprecedented money printing and essentially negative interest rates." ...
"Gold's nobody else's liability and it has no counterparty risk; that is the best advertisement for gold," Embry says. "It's provided protection against destruction of wealth for centuries and we're at the cusp of another major chapter in its illustrious history."
He goes so far as to say now might be the best buying opportunity in the whole bull market.
"[Gold's] price has been really held back, the fundamentals have gotten better by the day," he says. "Yet, if you look at the price, it's been down -- totally out of whack with what's going on in the fundamentals."
More information can be found online at http://www.goldbullionadvisors.com
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