• Gold: 1,228.80 3.68
  • Silver: 14.70 0.12
  • Euro: 1.146 0.001
  • USDX: 95.979 0.03
  • Oil: 69.45 0.7

Weekly Wrap-Up with Eric Sprott

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January 15, 2018 - 4:17pm

The year is off to a hot start with the dollar sinking and the price of crude oil going up. This week, Eric talks more about the “shockingly weak dollar,” the economic weakness in the U.S., and the continuing fraud of the COMEX.

But this week, he zeroes in on perhaps the strongest argument for precious metals: vulnerability.

“We have to talk about these Intel chips that were flawed, OK? Because if you’re a wealthy person, and a smart person, do you know that your bank account can be hacked? Do you know that the bank where you have your money can be hacked? Do you know that everything can be hacked? Where do you want to have your money? Do you want to put some in gold, so that at least it can’t be hacked, ‘cause it’s physical—you’ve got it in your own possession? So, I think that’s going to be very, very important to both gold and silver here, that everything is so vulnerable. Of course, nobody talks about it anymore. The market goes to a new high, it doesn’t matter that all our computers are hackable, because someone else is controlling the market. But as smart guys thinking about this sort of stuff, do I really want to keep my wealth in something digital where I have no control over it?”

To hear Eric’s full thoughts, including his “stock of 2018,” listen here: https://soundcloud.com/sprottmoney/sprott-money-ne...

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About Eric Sprott

Eric Sprott is Chairman of Sprott Inc., CEO, CIO and Senior Portfolio Manager of Sprott Asset Management LP and Chairman of Sprott Money Ltd. Eric has over 40 years of experience in the investment industry.

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