types of continued news events that would drive investors to it not to mention according to the world gold council central banks will buy more than five hundred tons of gold this year that's up from four hundred sixty five tons in two thousand and eleven a new high so what's happened there and the recent period aside which we just addressed we'll get to that you can see what proceeded that was more than a decade's long decade long really bull market in gold ok what we can't see behind this though is how much of this has been driven by the types of factors that we talk about every day ok q we debt downgrades that versus how much is driven by issues such as the twenty year bear market in gold that preceded this run with the structural changes of supply that happened over a very long period of time forcing the inevitable price adjustment that were perhaps seeing today so earlier i spoke to eric sprott c.e.o. of sprott asset management and started by asking how he's weighed those factors over the years here's what he said. when i first got to go gold in this serious manner which was two thousand the c

last year there was a record import of gold of nine hundred sixty nine tons according to the world gold council and this is leading to a record deficit for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks or because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold horn kill the banks turns off yeah and finally you know on this one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there's no social security system but here we have a false illusion that the government i