By Henry Bonner ( email@example.com) In a recent call with Eric Sprott, founder of Sprott Inc., he said he was still buying physical gold -and planned to keep buying it for as long as he could. The gold shortage that he talked about in our May interview is still there, and economically, things aren't getting better. "When people finally decide they want to buy gold, there probably won't be any gold," he explained. Nice to catch up with you again Eric. Where are you putting your own money now? Well, I've recently bought some gold and silver funds up here in Canada. I probably have 70 or 80 percent of my portfolio in precious metals right now, and I believe that's the right amount to have. Time will tell whether I'm right or not. Sprott stands for precious metals in a great way - a large part of the value of our company depends on precious metals, and I'm totally committed to that. Much as I find it unsettling what gold and silver prices do on a day-to-day basis, I am absolutely confident that precious metals will prove the right choice in the longer term. The moves that you can see in the stocks are almost unimaginable in other assets. We've already had gold and silver stocks that have put on three-digit moves this year. It feels like more of these moves could be coming. When you look at more recent economic data, do you believe it still supports the gold thesis? Since before the crash of '00, I have thought the banking system was susceptible to pressure. I didn't want to have my money in a bank because I thought the banks could go broke very quickly. Fast forward to 2008 — all the banks were essentially broke, as far as I could tell. The Fed came in to support the banking system, which they've now been doing for the past six years. And yet, there has been essentially no improvement in capital ratios at the banks and the risk of putting money there. In fact, you now lose money when you put it in the bank because of negative real interest rates - and you still take on the risks associated with the bank. To me, it's just totally ludicrous to put yourself in that position when you realize how levered the banks are.