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