Eric Sprott: “All The Paperwork Has Been Laid Out—For Bail-Ins As The Solution In The West”! Legalized Theft is Here!

• Eric Sprott: “All The Paperwork Has Been Laid Out—For Bail-Ins As The Solution In The West”! 
  by Tekoa Da Silva, http://bullmarketthinking.com/ 
  I had the opportunity this week to connect with Eric Sprott, Chief Executive Officer and Senior Portfolio Manager of Sprott Asset Management.
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  It was a powerful conversation as Eric spoke to the “gargantuan rise”  he sees coming for precious metals and their corresponding equities, one which he expects will take gold to new highs within the next twelve months. He also spoke to the incredibly fragile Western financial system, and pointed out the one event, which when it occurs—will completely take the lid off of gold.
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  Speaking to the gut-wrenching decline in metals and miners over the last two years, Eric said, “We’ve had many downturns in the gold market and as a portfolio manager…You just have to put up with these things. We had a horrendous decline in ’08…but sure enough, a year later [it was] right back where it should have been and anyone who sold at that time was severely misguided.”
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  The depth of this bear-market has set the stage for an epic rebound Eric explained, in that, “This event that we’ve gone through…which I think is now officially over on June 28th, is setting us up for a gargantuan rise in precious metals equities. It’s my own view that gold will go to a new high within the next twelve months and…I think when it goes to new highs, we’ll see a lot of people come into the space…such that I can imagine a very, very significant increase in precious metal equity prices. I have in my mind 300% to 500%.”
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  Such gains should be expected Eric added, for the reason that, “We’ve seen gains like that before in the precious metals equities. As you know the HUI index at its low was 35, and I think at its high was something over 600…[So] after this monstrous shakeout…the rebound [should] be incredibly exciting.”
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  When asked his thoughts on the catalyst which will send gold much higher, Eric noted that, “The one event in my mind would be when it becomes apparent to everyone that having a deposit in a bank is a very risky situation. We saw that in Cyprus where the depositors got nailed on the bail-in. We’ve seen all these proposals to have bail-ins as the solution to the problem in the US, in Canada, in Britain, in New Zealand and in Europe. All the paperwork has been laid out.” 
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