eric sprott the guy who has come to the market and said look here's what the annual production is here's what the annual above ground supply is here's what the demand is and this thing is going to go higher and of course that eric sprott we're not talking about by an ounce denounce we're talking about a billionaire one of canada's leading billionaires is talking about buying a billion dollars worth of silver at a time but now you probably have more time i know you must have more contact eric sprott than i do personally but it's see you know i think of him as a silver vigilante like a clint eastwood character going down to the silver pit you know and then just firing away at these paper of silver bugs but you get the sense that he's genuinely has kind of a. burning in his belly to go after this these paper bugs. well he's never told me that really talks about the pay system initially and how unsafe it is and how safe it is to own a metals and that's really your only asset class you can hold outside the banking system we're not exposed to these banking problems that exist so that's number

see won't control what their mandate says it should but to me i want to make the point that eric sprott who started the p.s. of a physical sort of trust. recently did a shell fall of one point five billion ounces not that long ago it took to chill falling down in the issues about three hundred million dollars to buy roughly ten million ounces of silver when that there's a collection million ounces of silver was bought the price shot up from the point it was announced to it was collected roughly two hundred dollars yet it took fifty five times that amount on paper to take it down the same amount in price so i really feel that we're winning matches mean that again shows the point of what you started with the buy announced take down j.p. morgan this by an ounce given how it's all about taking the physical and holding onto it because that is what do you leverage is the system to pick fifty five to one to get the system down the same amount of price and shows you that buying something physical really has meaning well as far as these grassroots campaigns like grass if you morgan buy sell or b

world against the developing world you point out your colleague an editor at the daily reckoning eric sprott i when he was giving the example did at one point c.d.s. on triple a rated. was higher than that which was rated below that and not only that but higher then brazil. colombia and death it was all one notch above junk and then if you look at you have this in your book to the how latin american stock exchange has performed some of the stock markets in latin america versus some western european stock markets so what is the market telling us and all these trends market is telling us that these countries have some people that we all want a lot of these countries that resource rich so they've been right in the commodity boom again i can't emphasize things like population being young and they don't have a lot of the debt problems we do in these countries and governments are also moving more towards open markets making it easier to for foreigners to invest and so those things are starting to pay off now that's one question you touched on debt is that really at the end of the day what a trend