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« SK OptionTrader makes 24% Just 2 Trading Days into 2013! | Main | Daniel Ameduri of interviews Bob Kirtley »

Billionaire Eric Sprott - Fed Has No Exit Plan & There Is No Exit

Today billionaire Eric Sprott warned King World News that when it comes to the Fed, “... there is no exit plan.  There never was an exit plan, and there is no exit.”  This is the first in a series of interviews with Sprott that will be released which reveals the increasingly desperate situation Western central planners face as we head into 2013.

Here is what Sprott, who is Chairman of Sprott Asset Management, had to say:  “The Fed is trying to suck and blow at the same time because they are suggesting the rates are going to stay low out to 2015, unless the unemployment rate gets down.  They come out with this statement about the minutes, which means nothing because it’s not policy.”

What I found most striking about it is if people really imagined that the Fed was not going to buy bonds, what should happen to interest rates?  What should happen to the stock market?  What should happen to the homebuilders?  What should happen to gold?    

The only thing that really got smashed (out of those asset categories) was gold and silver....

Continue reading the Eric Sprott interview please click here.

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Reader Comments (2)

Well for once I think Sprott has the bond market wrong. He says who will continue to buy ? This is what happens in Europe.
The ECB creates a bond and gives it to an EU member. This member then creates it's own bond and then sells it ,not to another country but back to the ECB . So we just go around and around and nobody has to pay anyone back. Well it seems to be woking but I am blowed if I know what will make it collapse as gold is held down to protect this system from collapsing. Any Comments ?

January 5, 2013 | Unregistered Commentergold bug

In terms of a catalyst its a bit like an avalanche, everything appears to be fine until the last snow flake lands and tips the balance, then all hell brakes lose.

Some time ago I tried to explain this money go-round to my daughter and she drew me a picture of the economy as a sick patient having a money transfusion into one arm with the money being taken from the other arm!!!

Sorry I cant do better than this.

January 5, 2013 | Registered CommenterGold Prices

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