Eric Sprott & Brendan Cahill
Billionaire-entrepreneur and founder of Sprott Asset Management, CEO Eric Sprott says the official economic numbers are bogus; most people realize they are paying more for life's necessities than reported. Even after spending trillions of taxpayer dollars, the Fed has accomplished little other than put the US further into debtor's prison. Last week, the EU put savings accounts with over 100,000 Euros at risk of confiscation - Eric Sprott says that investors across the pond should be bracing for something similar, unless of course savings are held in physical bullion, coins and bars. But tarry not, according to his research physical demand for gold exceeds global mining output; one nation (China) is consuming all of the gold produced in the entire Western world. Bank trading desks combine their financial clout with the leverage facilitated by paper contracts to manipulate the precious metals markets with impunity. He shares a recent headline story of a homeowner who found a container of gold coins in the backyard worth $30,000 when buried, now worth $10 million, illustrating the safe haven qualities of the yellow metal.Excellon Resources (tickers: EXN & EXLLF) is a unique mining company that recently earned top scores at Tickerscores.com rating service. Goldseek President, Peter Spina visited the firm; to say that he was impressed is an understatement. Precious metals virtually flow from the ore at the La Platosa mine, which is the highest-grade silver producer in Mexico, a country known for its silver production. In addition, it is one of the lowest-cost operations, nationwide. Top institutional investors such as Sprott Asset Management own a sizable position in Excellon shares, giving investors the peace of mind of knowing that the smart money has faith in corporate management and future prospects.
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