perpetual bailouts and money printing?

perpetual bailouts and money printing?

1. In an interview today with Eric King of King World News, Sprott Asset Management Chairman ERIC SPROTT foresees perpetual bailouts and money printing.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/6/10_Eric_Sprott_-_Were_Headed_Over_a_Cliff%2C_Be_Wary_of_Paper_Assets.html

kingworldnews.com

With continued gold and silver volatility, the Dow breaking below 12,000 and the US dollar on the move, today King World News interviewed billionaire Eric Sprott, Chairman of Sprott Asset Management. When asked about year over year explosions in the price of corn 118%, wheat 71%, cotton 83%,...

Sprott tells King:

"Just look at the printing of money and the way we've attempted to deal with the stresses in the banking system, and my ultimate end for gold is when people realize they are probably better off not having their money in a bank. They get paid nothing, they take all of the risk of the bank balance sheet, which is incredible, and, in my mind, why wouldn't you own gold and silver, which are going to maintain their purchasing power in almost any circumstance? You are way better off owning physical metal than owning a piece of paper at a bank."

FROM FACEBOOK WHY BUY GOLD? (AND SILVER!) 2011-06-10

2. I said in response to above:

I'm hearing from others that it will be "perpetual" until China says "no" to more US credit & sells more to other countries and to the biggest customer in the world, its own people.

FROM FACEBOOK WHY BUY GOLD? (AND SILVER!) 2011-06-10