Central banks have lost their battle against gold

Central banks have lost their battle against gold, Sprott tells King World News

Submitted by cpowell on Sun, 2010-05-16 03:51. Section: Daily Dispatches

11:46p ET Saturday, May 15, 2010

Dear Friend of GATA and Gold:

Interviewed for 10 minutes today by Eric King of King World News, Sprott Asset Management CEO Eric Sprott remarks that the stock market's recent thousand-point slip signals a bear market ahead; that Europe's trillion-euro bailout couldn't be more gold-friendly; that debt isn't producing much economic growth anymore; that people are looking at gold much differently over the last two months, realizing they have to get some amid the financial lunacy of governments; that central banks have lost their battle against gold; that many gold stocks are very undervalued as gold mining profits rise sharply; and that eventually currencies will be backed by gold again. You can listen to the interview at the King World News Internet site here:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/5/15_Eric_Sprott.html

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.