Today billionaire Eric Sprott told King World News that the price of silver will soar into “the hundreds of dollars.” Sprott also warned KWN that the central planners’ recent actions will lead to disaster for the global economy. This is the third in a series of written interviews with Sprott that has now been released. Below is what Sprott, who is Chairman of Sprott Asset Management, had to say in part III of this remarkable series of interviews.
Eric King: “Eric, what has you worried going forward?”
Sprott: “These policies of supporting the financial system or the banking system are not going to work. QE1 didn’t work, QE2 didn’t work, now we’ve got QE3 and Japanese money printing. Central banks are (also) now buying stocks.
How much lunacy do we have to have? Just think through it a little. It has to stop some day. We just can’t keep accelerating this without one of two things happening: You are going to get a financial collapse, or you are going to get hyperinflation….
“If you get hyperinflation you are going to have a financial collapse anyway because interest rates have to go up and it’s all over for governments because their cost of interest skyrockets and they are all broke anyway. So it will not end well, one way or another.”