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SHTF Plan
Mining CEO
Proposes: Crush Market Manipulation By Halting Silver Sales
Mac Slavo
October 24th, 2014
In 2011 the price of silver topped $48 per ounce, but just a few years
later we’ve seen it collapse to such levels that it is now becoming
nearly impossible to for mining companies to get it out of the ground
and make any sort of profit.
Many believe the price of silver, and it’s precious metal counterpart
gold, is being manipulated by top-tier financial organizations that
include large investment firms as well as Western central banks.
Through the use of heavy leverage and coordinated attacks it is
believed that these ‘cartels’ are working to keep the price of silver
and gold low in an effort to prevent these resources from supplanting
the global reserve status of the U.S. dollar. It’s gotten so bad that
the Chinese government has actually decided to open their own precious
metals exchanges just to try and counter the manipulation.
Now, even the private mining sector is saying enough is enough.
In an interview with Future Money Trends, Future Majestic Silver Corp.
CEO Keith Neumeyer says that manipulated paper markets are not
representative of the physical price of silver. According to Neumeyer,
it costs about $16.50 to get silver out of the ground and with it’s
current “paper” spot price trading at about a dollar over that, it is
becoming more and more difficult for mining companies to break even,
let alone maintain profitable businesses.
Though the world produces about 800 million ounces of silver every
year, paper traders are somehow able to control as many as one billion
ounces of silver a day through the use of extreme leverage and
derivatives. It is this leverage that has left many silver mining
companies reeling.
Neumeyer has made a proposal to other mining company executives around
the world and suggests that they combine their efforts to create their
own cartels, kind of like what OPEC does with oil.
If we were to suspend production for just one month that would send
ripples to the entire system. The supply is already tight. So it would
be extremely interesting to see what would happen in a situation like
that.
I not only encourage them [silver producers], I would suggest that we
all get together and do exactly that. I think it would be a very
exciting thing for all the silver companies to form a semi-cartel in a
way similar to OPEC. I don’t see why we can’t do that.
I think we all agree that the paper market has no representation for
the physical market… and I think it makes sense that we would all work
together to sell our product to industry… and I would encourage all of
them to pull back our silver.
We should pick a month in 2015 and say ‘We’re going to hold back silver
for 30 days’ and see how the silver buyers respond to that.
Indeed, such a move would send ripples through the market. And though
the paper markets are massive compared to the actual physical markets
they represent, a one month hold on the majority of the silver
production in the world could well drive prices to levels we haven’t
see before, and perhaps end the massive manipulation once and for all.
Read the article with video at SHTF Plan
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