Today billionaire Eric Sprott spoke with King World News about the recent raid on gold and silver and noted that it has unleashed a “torrent of buying.” Sprott also communicated to investors what they should be doing in the aftermath of the raid. This is the third of three written interviews with Sprott that will be released today. Below is what Sprott, Chairman of Sprott Asset Management, had to say in part III of this remarkable series of interviews.
Sprott: “I think the raid (on gold) was meant to shake people out of gold. As you know various people have said, ‘It’s an eight-sigma event,’ or ‘A seven-sigma event.’ We’ve calculated it to be a six-sigma event, which is one that happens every 13 years.
Those who have calculated it (the raid on gold) as as an eight-sigma event said it could only happen once every million years….
“If it’s a seven-sigma (event) I think it’s every 4,500 years, which would suggest that this was a very anomalous occurrence that never should have happened.