The Secret To How Eric Sprott & I Became Wealthy

Today one of the wealthiest people in the financial world spoke with King World News about how he and Eric Sprott became so wealthy. Rick Rule, who is business partners with billionaire Eric Sprott, also spoke about one of the greatest opportunities that he has seen in his entire career. Below is what Rule had to say in his interview.

Rule: “You know, Eric, it’s funny because right now I am up in Vancouver, and looking at the despair in the professional investment community and juxtaposing that with the strange elation that I feel has caused me to feel very contemplative.

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One of the things that occurs to me is that this is my fourth major market cycle. The three previous down-cycles that I’ve been through previously were the cause of my personal wealth, and Eric Sprott’s personal wealth….

“It’s interesting that at age 60 I have a lot more patience than I did when I was age 30. And I think one of the things that’s happening right now is the fact that markets and conditions have caused me to be a 3-to-5-year thinker, and most of the people I compete with, who are 20 years younger than me, have a 2-to-3-week time frame.

And the idea that somebody who has a 2-to-3-week times frame can compete with somebody who has a 3-to-5-year time frame is very problematic. What Eric and I are trying to do in very crass terms is go from being quite wealthy, to being ludicrously wealthy.

But the reality is that we are competing with people who are trying to make payments on their 2nd house at Whistler. In other words we are competing with people who are trying to live rich as opposed to being rich, which constrains them to a very, very short time frame.

Certainly I feel bad about having paid $3 for some stock that is selling at 60 cents, but it’s not the first time I’ve ever done that, and it’s certainly not the last time I am going to do that. But what I can tell you is that the money I’ve made in my life has come about through the aggressive deployment of capital at times like these.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/15_Rick_Rule_-_The_Secret_To_How_Eric_Sprott_%26_I_Became_Wealthy.html

Silver Set To Advance A Remarkable 800% From Current Levels

With continued uncertainty in the gold and silver markets, today a 58-year market veteran told King World News that silver will advance roughly 800% and gold is set to soar over $3,000 from current levels.  Ron Rosen, who has been at this business for almost six decades, also spoke about the mining shares..

Eric King:  “Ron, you’ve been doing this for 58 years, where are we right now as you see it in the gold and silver bull markets?”

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Rosen:  “We are on the verge of the biggest move in the history of the precious metals market, and it’s not far away from beginning.  It’s going to be a monster move….

“What I don’t understand is why everybody doesn’t see it.  There are so many analysts out there and if they just knew how to look at a monthly chart, and put it in a logarithmic form, they would see that gold and silver are going to explode.

This explosion higher in the price of gold and silver will just be Mother Nature at work, and there is nothing on the face of this Earth that can stop it — no individual, no central bank, no country, and no collection of countries.”

Eric King:  “You went through the bull market of the 1970s.  How do you think this market will compare to that one?”

Rosen: “It will outperform it to such an extent that it will almost be beyond belief.  We are looking at a massive move in front of us that will top sometime in 2014.  At that point there will be a correction.  Then, a massive blowoff will take us probably into early 2016.  People who have been tortured by this long corrective phase, they will be thrilled if they have the ability to hang on.  They just need patience here.

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/15_Silver_Set_To_Advance_A_Remarkable_800_From_Current_Levels.html

This Market Collapse Will Shake The World Financial System

On the heels of another wild week of trading in global markets, today one of the top economists in the world sent King World News an exclusive piece warning that a key market collapse will shake the world financial system. Michael Pento, founder of Pento Portfolio Strategies, wrote this piece for KWN.

Pento: “The U.S. Ten-Year Note yield has been surging of late. Absent another recession, or renewed European debt crisis that threatens the existence of the Euro currency, or the Fed launching QEV; the yield should approach 4% by the end of this year. How much should we be concerned about yields rising to that level?….

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“Well, the surge in yields from 1.6%, to 2.6% since the beginning of May has already caused purchase applications for new homes to plunge 28% month over month. Mr. Bernanke predicated the economy’s healing on saving the real estate market. Since the Fed is now threatening to begin removing its stimulus programs, that primary support column for the economy is being eliminated.

One has to question what rising rates will do for this so-called recovery. The U.S. economy (and indeed the rest of the globe as well) is already suffering from anemic growth. Now we are told by the puppet masters of the economy that the manipulation is going to end. But can we really believe them?

Source: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/7/13_This_Market_Collapse_Will_Shake_The_World_Financial_System.html