For the past three plus years I have been asking how silver and gold have always been available when we can see stress in the markets all through the supply chain. According to several prominent analyst, and producers, global silver and gold production declined in 2015. In Mexico alone silver production is down approximately 6%. According to some of the information that we reviewed, here at The Daily Coin, silver production increased due to the low price of silver.
Silver has become a just-in-time product. With Eric Sprott, Sprott Assets, recently announcing a $5 billion addition of physical silver to the PSLV ETF we shall see what is happening with the silver market at the institutional level.
Keith Neumeyer also explains how a large electronics manufacturer recently contacted his company, First Majestic, regarding the acquisition of silver for their manufacturing processes. This screams of a very, very tight supply of silver in large quantities. Where is metal coming from?
I sat down with Keith Neumeyer, CEO, First Majestic and Chairman, First Mining Finance, to get his take on Duestche Bank admitting to rigging the silver and gold markets and naming both HSBC and Scotia-Mocatta as being involved with the scheme. The important part is Duestche Bank naming other bullion banks as being part of the scheme.
Keith also shares with us how the gold/silver ratio is so far out balance that when it begins to correct that it will be breathtaking in the way it unfolds. Can you imagine a 8:1 gold/silver ratio price? Currently, the ratio is 75:1. Meaning the price of gold is 75 times higher than silver even thought silver is mined at a 10:1 ratio to gold.
Let’s listen to Mr. Neumeyer and allow him to explain the current condition of the market and how the mining production will continue to decline, thereby, putting quality mining operations in the drivers seat for the unfolding next leg of the precious metals bull market.
Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.
The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.
