Latest / Financial Survival Network / Will Gold Make Eric Sprott Wealthier Than Musk? - Triple Lutz Report #495

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Will Gold Make Eric Sprott Wealthier Than Musk? - Triple Lutz Report #495 · Financial Survival Network

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  Speaker 1: There's no more resistance because we're in uncharted territory, but
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  Speaker 1: we could conceivably see it go to five thousand, maybe
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  Speaker 1: ten thousand, maybe even more. I don't even hazard a guess.
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  Speaker 1: I don't know when it's going to happen. I'm not
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  Speaker 1: sure that it's going to happen, but I am sure
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  Speaker 1: that Eric Spratt, should it happen, is going to be
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  Speaker 1: the biggest beneficiary of it. And this means that his
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  Speaker 1: influence in the space will position him as one of
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  Speaker 1: the most powerful individuals on the planet.
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  Speaker 2: So let's take a look at Eric's journey.
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  Speaker 3: You're listening to Carrie Letz's Financial Survival Network, where you
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  Speaker 1: Ever, and welcome this. It is Financial Survival Network. I'm
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  Speaker 1: your host, Carrie Lutz. It's time for another Triple Lutz Report,
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  Speaker 1: and this is Triple Lutz Report or ninety five. So
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  Speaker 1: wrote an article. I I hope you've all had a
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  Speaker 1: chance to take a look at it. Basically, is Eric
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  Speaker 1: Spraught the next Elon Musk. And look, we've been living
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  Speaker 1: in a world dominated by tech billionaire oligarchs like Elon Musk.
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  Speaker 2: He is an oligarch, even though he might be out.
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  Speaker 1: Of touch with the other oligarchs because he's seems to
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  Speaker 1: be leading more and more left, more and more right,
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  Speaker 1: rather whereas the other oligarchs keep leading more and more left.
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  Speaker 1: He is an unabashed supporter of free speech. Free speech,
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  Speaker 1: whether it's fake news or whether it's whatever you know,
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  Speaker 1: deep fakes, whatever it might be satire which was just
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  Speaker 1: outlawed in California, deep fakes within the ninety days of
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  Speaker 1: an election or one hundred and twenty days before ninety
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  Speaker 1: days after. It's insane. But look, you know what it
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  Speaker 1: comes to impact upon society, all of his different businesses,
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  Speaker 1: Musk is in a league all is own. But I
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  Speaker 1: believe we are heading for its a revision or reversion
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  Speaker 1: back to original wealth. An original wealth was basically wealth
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  Speaker 1: you took from the ground, and that could be trapping
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  Speaker 1: furs in Canada, that could be water. Oh now it's
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  Speaker 1: precious metals, gold, silver, platinum, and Eric Sprout, you know
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  Speaker 1: a multi billionaire from Canada, interviewed him once many years ago.
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  Speaker 1: He's quite gracious, just a regular guy. In the past.
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  Speaker 1: The twenty years that I've been doing this, actually twenty
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  Speaker 1: five years since I started buying gold, Eric Sprott has
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  Speaker 1: quietly amassed one of the most formidable portfolios, if not
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  Speaker 1: the most formidable, in the mining sector. And as the
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  Speaker 1: prices of gold and silver continue to climb, his wealth
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  Speaker 1: and power are going to climb too, and perhaps they
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  Speaker 1: will eclipse or surpass all the tech moguls, including Elon Musk. Now,
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  Speaker 1: Eric's been doing this for fifty years nearly, and he
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  Speaker 1: started when gold was probably around one hundred and eighty
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  Speaker 1: two hundred dollars the ounce.
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  Speaker 2: Currently gold's hovering.
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  Speaker 1: Near twenty six hundred ounce, and I believe it's boised
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  Speaker 1: for an even more explosive rally once it hits three thousand.
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  Speaker 1: That is a major psychological number. There's no more resistance
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  Speaker 1: because we're in uncharted territory, but we could conceivably see
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  Speaker 1: it go to five thousand, maybe ten thousand, maybe even more.
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  Speaker 1: I don't even hazard a guess. I don't know when
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  Speaker 1: it's going to happen. I'm not sure that it's going
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  Speaker 1: to happen, but I am sure that Eric Spratt, should
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  Speaker 1: it happen, is going to be the biggest beneficiary of it.
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  Speaker 1: And this means that his influence in the space will
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  Speaker 1: position him as one of the most powerful individuals on
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  Speaker 1: the planet. So let's take a look at Eric's journey
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  Speaker 1: to becoming a multi billionaire. He began in the finance world,
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  Speaker 1: not in the tech world, and after starting his career
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  Speaker 1: as a research analyst at Merrill Lynch, he found its
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  Speaker 1: brought Securities in nineteen eighty one and set his sights
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  Speaker 1: on the resource sector, and unlike many investors who chased
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  Speaker 1: the fast growing tech stock, he remained committed to the
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  Speaker 1: tangible valalue of precious metals. His conviction that hart assets
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  Speaker 1: such as gold and silver would serve as the ultimate
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  Speaker 1: store of wealth in times of economic turbulence. That is
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  Speaker 1: kind of the hallmark of his career. Look, what we're
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  Speaker 1: saying is a dollar hedgemony, threatened dedollarization of the Bank
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  Speaker 1: for International Settlements declaring that gold is a Tier one asset.
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  Speaker 1: So basically he's invested heavily in gold, silver and mining
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  Speaker 1: companies as well as being a physical holder. You know,
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  Speaker 1: He's got several ETFs that hold precious metals that actually
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  Speaker 1: are audited and can prove their assets. They're audited yearly,
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  Speaker 1: and some of them, I think are even audited more
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  Speaker 1: than that. The spot physical commodity ETFs. He's got one
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  Speaker 1: for uranium now. But perhaps his greatest asset is his
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  Speaker 1: ability to identify undervalued mining firms provide them with a
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  Speaker 1: capital necessary to develop their resources and come to market
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  Speaker 1: or be bought out. And this strategy has earned in
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  Speaker 1: billions already. But if I'm correct, and I believe that
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  Speaker 1: I am in the coming surge and precious metals, this
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  Speaker 1: fortune could increase exponentially and look so goal Currently twenty
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  Speaker 1: six hundred nouns pretty close. Many experts predict it's just
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  Speaker 1: the beginning of a much larger rally. I think it is, too.
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  Speaker 1: I don't know when the next phase of it is.
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  Speaker 1: My personal feeling is probably time for a pullback to
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  Speaker 1: like the twenty four hundred and twenty three point fifty
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  Speaker 1: at the bottom, But it could go more than that,
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  Speaker 1: because one thing about the gold market and the precious
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  Speaker 1: metals market is that it always frustrates the majority of
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  Speaker 1: participants and always proves them wrong. So, but look at
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  Speaker 1: the factors that are driving this potential surge inflation, global
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  Speaker 1: economic uncertainty, wars. I mean, we've got multiple wars taking place,
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  Speaker 1: some of which you know about you reading the paper
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  Speaker 1: is Ukraine, Israel, Middle to East, but some of them
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  Speaker 1: are just very covered up. You don't even know what's
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  Speaker 1: going on. Africa. There's wars happening, not much in South America,
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  Speaker 1: but that could blow up at any time. China. Is
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  Speaker 1: China going to invade Taiwan? My gut feel is they
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  Speaker 1: are not. They like to project power and saber rattle
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  Speaker 1: right now. China is he not aware, has cleaned large
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  Speaker 1: swaths of the South China Sea is their own for
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  Speaker 1: which they have no historical claim upon, but they go
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  Speaker 1: back like two thousand years. You know, some people from
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  Speaker 1: China landed in the Philippines, so it's ours and they've
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  Speaker 1: made these artificial islands which are thinking.
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  Speaker 2: So my point is, I don't want to dwell on
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  Speaker 2: it too much.
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  Speaker 1: Is that the geopolitical situation, the risk of global conflagration
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  Speaker 1: has never been higher. And when we look, silver has
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  Speaker 1: been the laggard. Silver you know right now is around
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  Speaker 1: thirty one bucks the ounce. It just can't seem to
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  Speaker 1: stay over thirty bucks. But there was a guy Biederman
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  Speaker 1: who I used to interview when I first started my podcast,
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  Speaker 1: and he said, right now, silver is the worst investment
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  Speaker 1: in the world.
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  Speaker 2: But one day you are.
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  Speaker 1: Going to wake up and silver will be the best
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  Speaker 1: investment in the world. I don't know when that's happening,
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  Speaker 1: but my gut feel is it's sooner rather than later.
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  Speaker 1: So a silver and gold boon would increase sprot's influence dramatically,
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  Speaker 1: and in my opinion, it will surpass the tech entrepreneurs
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  Speaker 1: and the hedge fund managers in the world, and a
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  Speaker 1: strategic vision will guide the development of some of the
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  Speaker 1: most valuable resource companies. Happened happened back in the thirties
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  Speaker 1: when the gold was devalued, and this led to you know,
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  Speaker 1: it's an interesting thing. When gold was devalued, the purchasing
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  Speaker 1: and the power of the dollar was actually going up,
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  Speaker 1: so when they tried to inflate they weren't able to
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  Speaker 1: so effectively. They gave all of these active liners a gift.
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  Speaker 1: Gold went from what was it, thirty four dollars to
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  Speaker 1: forty two. It's just a huge increase, you know, it's
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  Speaker 1: like twenty five percent. But this was on top of
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  Speaker 1: the dollar that had already increased in purchasing power. Now
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  Speaker 1: we're seeing a dollar decreasing and purchasing power. So the
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  Speaker 1: one thing I see happening here, and it's a wake
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  Speaker 1: up call to the investment world. All wealth begins with
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  Speaker 1: resources and extracted industries. Traditionally, that was the way wealth
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  Speaker 1: was created. For decades. Technology has been at the forefront
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  Speaker 1: of wealth creation, but without the basic resources gold, silver, copper, nickel,
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  Speaker 1: and numerous other metals uranium, there can be no tech revolution.
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  Speaker 1: Everything from evs to renewable energy infrastructure requires these raw
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  Speaker 1: materials and demand is growing. But the governments of the
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  Speaker 1: world are so stupid they're not speeding up the turnaround
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  Speaker 1: time for permitting of minds. In fact, that time has
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  Speaker 1: gotten longer and longer and less and less huge minds
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  Speaker 1: are being developed. So it's brought He understood this truth
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  Speaker 1: a long time ago. He had the ability to financial
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  Speaker 1: wherewithal the weight it out and finally his weight is
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  Speaker 1: going to be paid off.
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  Speaker 2: And look, when you've.
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  Speaker 1: Got currency devaluation, the debt increasing geometrically, all these things,
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  Speaker 1: and then a lack of supply. This means something major
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  Speaker 1: is going to happen. I don't know when, but I
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  Speaker 1: think the thesis is clear. It's going to happen. Just
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  Speaker 1: be prepared. So his ability to control such a large
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  Speaker 1: portion of the market gives him significant geopolitical influence as well.
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  Speaker 1: Governments and industries will need the resources produced by the
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  Speaker 1: companies in his portfolio, making him an essential player in
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  Speaker 1: the global economy. And his power is not just going
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  Speaker 1: to be limited to financial markets. As his wealth and
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  Speaker 1: influence grow, will likely become a more prominent figure in
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  Speaker 1: shaping the global marketplace. And look, he's getting older. He's
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  Speaker 1: up in years. I don't remember his exact age, but
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  Speaker 1: the fact is, assuming he stays around and he stays healthy,
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  Speaker 1: trend is set. He's going to be a key player
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  Speaker 1: in global resource policy, and he's going to drive the
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  Speaker 1: future of extracted industries. So he may not just be
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  Speaker 1: the next Elon Musk. He could become an even more
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  Speaker 1: dominant force defining the future of global wealth and power
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  Speaker 1: in the resource driven world to come. So it's been
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  Speaker 1: another triple let's report Carrie Leuts signing off. Make sure
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  Speaker 1: you go over to Financial Survival Network dot com. Take
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  Speaker 1: a look at what we've got. Sign up for your
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  Speaker 1: free newsletter. Al great to talk with you again. We'll
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  Speaker 1: be back.
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  Speaker 3: Thanks for listening to Carrie Letz's Financial Survival Network, your
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  Speaker 3: Financial Survivalnetwork dot com. Financial Survival Network now more than ever,