RE:Oh, Eric: what'll happen to your shiny new BGM shares?Well, I stand my view that Sprott was very lucky in the early days of the mexican gold mining boom. And I strongly suspect he'll be extremely unlucky in the future gold market.
What will Sprott be worth with gold at $1,075, the 20+ year 50% retracement level?
How about $881, the 61.8% retracement?
The 38.2% retracement was at $1,269 and it is pretty safe to say that level did not hold just like the 23.8% level at $1503 didn't hold.
Interesting time ahead.
halcro wrote: Monday, May 25, 2015
Billionaire Eric Sprott Says Stock Market Will Crash, Not Gold
“Well, God knows when the dust settles, but what I’ve expected for a long time now is that the basic fundamentals for gold and silver will win the day...
But I think it’s reasonably predictable that we are going to have a failure. All of the demand data and the reasons for owning gold have improved. We all know that zero interest rates and printing money has not provided the answer and won’t provide the answer.
The only thing it does is it allows people to speculate on buying securities, but it’s not helping the economies. In fact, there are elements of the economy that are doing worse. The savers are way worse off today than they were before. They are forced to speculate in order to get returns. By speculating they are taking on greater risk.
Source, Eric Sprott via King World News
https://ericsprott.blogspot.ca/
AND MIGHT NOT SOME CONSIDER THAT TRADING ABOUT $20 MILLION IN CASH FOR 85,480,564 FAIRLY ILLIQUID BGM SHARES (OF WHICH 69,583,333 ARE LIKELY TO BE SHINY, NEW SHARES) RAMPANT SPECULATION?