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Rick Rule of Sprott Asset Management says quantitative easing by the EU and US central banks is all but inevitable in the short term.
In an interview with King World News the veteran commodities investor says statements by central banking heads on either side of the Atlantic portend a further round of quantitative easing, or in Rule’s own words, “counterfeiting”:
A few things are on my mind right now, Eric. Recent statements by both Draghi and Bernanke, suggest to me the inevitable fact, and near-term inevitable fact, that both the European Central Bank and our own central bank officials, will be engaged in what they call some form of quantitative easing. This is what we would call counterfeiting.
Although this bodes poorly for government solvency and inflation, it conversely indicates that bullion and commodities prices are set to gain relative to weakening currencies.
Rule also says listed miners are already benefiting from the onset of the resource cycle’s discovery phase, with Africa Oil (V:AOI), Reservoir Minerals (V:RMC) and GoldQuest Mining (V:GQC) all surging in the past several weeks on the back of spectacular new resource finds.
Image of Rick Rule from YouTube and Eric Sprott
