Eric Sprott sells his Silver Trust units

[bl96S5eu]

Thoughts?


Eric Sprott and Sprott hedge funds have sold trust units in Sprott's Physical Silver Trust. The trades were made in the last two weeks of April when the price of silver peaked.

The trades were reported in a document published by the Securities and Exchange Commission. In total, 1.6 million trust units were sold at an average price of about $21, making the proceeds worth about $34-million. The selling unitholders were Sprott Hedge Fund L.P., Sprott Hedge Fund L.P. II, Sprott Asset Management L.P. and Eric Sprott.
link: http://www.theglobeandmail.com/globe-investor/investment-ideas/streetwise/eric-sprott-sells-his-silver-trust-units/article2006755/

1970SA we know where you stand ;D

[Large Sarge]

I think this summer the fed starts raising interest rates.

collapses the bond market

makes the dollar strong (temporarily)

Martin Armstrong said "the new wave starts june 13th 2011"

I think the new wave is the run up in interest rates.

historically interest rates follow gold, gold rises first, and then interest rates follow.

[mamboni]

Rising interest rates will set off debt defaults on debt defaults like dominos. The US economy will crater into a superdepression. :o

[Large Sarge]

Rising interest rates will set off debt defaults on debt defaults like dominos. The US economy will crater into a superdepression. :o


yes you are right

here are my points

Bill gross of PIMCO (largest U.S. Debt holder in the U.S.) has dumped all his U.S. debt, "only in cash"

lets pretend there are some real tensions between the U.S. and china (not manufactured zionist engagements), well one way to hit back at the chinese is to raise interest rates, which drops the value of all of their bonds they are holding (almost overnight)

and the last point is that the U.S. has entered the stage of runaway inflation IMO, monetizing everything. and since no foreign markets will buy up our debt, the only choice is to let interest rates rise.

anyway I am just speculating, but the Bill gross thing makes me really wonder...

[Large Sarge]

the other thing is sprott might see some tax benefits to selling this year

I believe he is in Canada?

perhaps the tax laws change next year?

and potential gains are offset by tax losses

or he wants to capitalize for another venture?

or?

[Neuro]

the other thing is sprott might see some tax benefits to selling this year

I believe he is in Canada?

perhaps the tax laws change next year?

and potential gains are offset by tax losses

or he wants to capitalize for another venture?

or?


He thinks that silver will drop substantially after gaining some 170% in 9 months. Stranger things have happened? I don't think that silver has had it's manic phase yet, but it could very well half over the summer...

[Large Sarge]

they keep raising margin calls, no one will be left in the silver market

[Large Sarge]

so much for the scare

http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities

[bellevuebully]

Eric's pretty high profile in this game. He has done a lot of talking about gold/silver/monetary issues. Too much so to engage in any hanky-panky without the risk of discrediting himself. imo

[Glass]

Eric Sprott is on Keiser Report next week. Perhaps we can get Max to ask him some questions for us about his moves?

[Glass]

From Zerohedge


http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities

Earlier we reported that Sprott had sold $35 million worth of PSLV, which caused many to panic that the precious metals guru had indicated the market top in the market. Well, as it turns out and as he just told the Globe and Mail “We haven’t lost our enthusiasm for silver.” Quite the opposite...


Link...... (http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities)

[bellevuebully]

From Zerohedge


http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities

Earlier we reported that Sprott had sold $35 million worth of PSLV, which caused many to panic that the precious metals guru had indicated the market top in the market. Well, as it turns out and as he just told the Globe and Mail “We haven’t lost our enthusiasm for silver.” Quite the opposite...


Link...... (http://www.zerohedge.com/article/so-much-sprott-silver-scare-every-dollar-pslv-sales-was-reinvested-silver-equities)


Equities.......dirt cheap.

I'd also bet Sprott will move the (equity) market with this news.

[Glass]

Seems Large Sarge saw this before I did.