HUGE NEWS! Silver Price Manipulation Is About to END For The Big Banks – Keith Neumeyer

June 13, 2024

HUGE NEWS! Silver Price Manipulation Is About to END For The Big Banks – Keith Neumeyer

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so but yet the banks are short uh uh hundreds of millions of ounces and and they’re they’re feeling the pain today and I know that for a fact um so we have to take advantage of the current metal prices which we do and are doing right now uh but it’s interesting because the B Bank limits that a lot of these Traders have are have have hit their limits as a minor the gold producers and silver producers out there you know they’re having issues selling metal at current metal prices because all the credit limits are all at their limits throughout the entire banking system you on the supply side you know we haven’t seen any new Supply and I don’t see any new Supply I see less Supply in today’s episode Keith new CEO of First Majestic silver a major player in the silver industry vo concerns over the unrestricted ability of banks to short sell vast amounts of silver newer highlighted the lack of regulat limits on the quantities that Banks like JP Morgan and HSBC can trade which he sees as a significant risk to Market stability according to him Banks can and do manipulate the market on a massive scale merely at the click of a mouse this unchecked power he argues has profound implications not just for investors but for the silver market as a whole new Meer went on to describe the current state of the physical silver market which he claims is is closer than ever to a critical shortage despite regular assurances from exchanges that the supply squeeze is temporary new Meer painted a picture of a market teetering on the brink of a real crisis this precarious situation is exacerbated by geopolitical tensions and increased nationalistic policies where countries are increasingly Keen to repatriate their precious metals further straining global Supply chains the conversation also touched upon the broader challenges facing the silver mining industry new Meer pointed to systemic issues such as a decades long neglect in Exploration and development of new minds he specifically noted the arduous and prolonged permitting process that new minds face citing a personal example where a discovery made in 2010 is still years away from obtaining the necessary permits to begin operation this bureaucratic inertia he lamented hinders the industry’s ability to respond to Growing Market demands and contributes to the declining production figures seen worldwide now we’ll show you the best clips of his latest interview but first smash the Subscribe button and turn on notifications so you do not miss out our daily Recaps enjoy the episode so but yet the banks are short uh uh hundreds of millions of ounces and and they’re they’re feeling the pain today and I know that for a fact um you know we deal with the physical market and yet as a minor you know we we sell our ounces and uh um uh we have to sell our ounces we because we’re not in the business of hoarding our own ounces uh our institutional investors expect us to take advantage of the current metal prices and they want to see those revenues and those profits and that fects the analysts and that affects the target prices they put on our stock and that affects the shareholders who own we have 80,000 shareholders worldwide if all of a sudden we have no revenues then um it’s not going to be very good for our share price um so we have to take advantage of the current metal prices which we do and are doing right now uh but it’s interesting because the B Bank limits that a lot of these Traders have are have have hit their limits which which I remember going back to 2011 the same phenomenon occurred and but it was so long ago that I kind of forgot about it but now as a minor the gold producers and silver producers out there you know they’re having issues uh selling metal current metal prices because all the credit limits are all at their limits throughout the entire banking system because there is a delay from the time we sell our ounces to the time we actually deliver the ounces and that could be a 30-day delay it could be 60 days it could be 90 days and that that difference is financed and the banks finance that on behalf of the mining sector and that’s a relationship that’s been going on for decades and decades and decades and that’s just the simple the way it works yet now those limits have ex have come to uh numbers that uh have reached uh a Breaking Point and uh and I and I’m going to spend some time on this topic over the next couple of months and see what can be done from a mining uh uh business perspective to see how we can avoid such things in the future one of the things we have done is open our our own mint so we can pull silver out of the banking system we can talk further about that uh but dunan your question was also on the supply side you know I think you had about 10 uh topics of in your Preamble which uh I should had a piece of paper in front of me and wrote them all down but you know on the supply side you know we haven’t seen any new Supply and I don’t see any new Supply I see less Supply so if you look at uh Kur to Lanes uh or Kur mining’s uh production numbers you look at first Majestics uh silver production numbers Pan-American silver production numbers silver production is dropping worldwide and there’s all kinds of reasons for it we can we can have a uh maybe when I see you in Florida we can have a beer together and I can explain all the different uh nuances that go on in the mining sector but permitting is the biggest issue um and that is getting more and more difficult countries around the world are more reluctant to permit mins um we’re we’re trying to get silver on the Strategic medals list um I remember watching a interview from Pierre lond about um I guess it was about two years ago and he he said on this interview that he was called up by the U uh mining minister of the province of onario here in Canada and and the and the minister asked him you know how do we produce more metal and and you know Pier Lan was blown away he said what do you mean how do we produce more metal you give us permits so we could produce more metal and and you know this minister of uh of mining had no clue right uh uh so you know if if Mexico wants to loosen out their permitting or or or the or Nevada or Arizona you know or or Canada where where most of these Metals come from uh we could produce more Metals as an industry but for the mining sector and I’m the chairman of a company called first mining gold which many of your listeners probably are familiar with um uh we’ve been working for seven years on a permit the asset was discovered in 2010 is now 2024 14 years after discovery and still hasn’t got a permit we’re not expecting a permit for probably the next two to three years and that’s if everything goes smoothly so the burn rate on that permit is about $20 million a year so over over that 20e period it costs around $3 to $400 million just to get the permit then you have to break ground and and uh build the mill which is going to be another 6 700 800 million dollar so how long is it going to take you to get payback on that so institutional investors they don’t have the patience so you go you go to an institution say I want you know $50 million I’ll pay you back in 20 years they’re going to laugh at you so it it’s it’s a very difficult industry very tough to raise money for and it’s a it’s a long game and uh you know you have to have patience as an investor but you have to have patience as a management team and and uh you know at first Majestic I think we’ve proven ourselves you know over the last 20 years and uh but uh it is a big challenge talking about silver you know talk to the governments and ask them the question why don’t they put silver on the Strategic medals list um put or you know if they did then maybe governments would would wake up and say hey look we need this metal and we’re going to FastTrack permitting and rather than taking you know 20 years to get a permit we’ll we’ll do it in three years and if they did that then we could potentially get you know silver ounces produced uh you know or or more silver ounces produced on an annual basis in today’s market recap Wall Street throws in the towel on gold after Friday’s route Main Street optimism likely a pre-sell off snapshot this week precious metals Market saved all their drama for the grand finale spot gold opened the week trading at and spent much of the first four days trading in a relatively narrow $25 range the expected 25 basis point rate cuts from the ECB and the Bank of Canada came and went with spot gold eventually setting its weekly High just after midnight on Friday North American traders went to bed Thursday night expecting Friday morning’s non-farm payrolls NFP report to be the week’s highlight for gold but the People’s Bank of China pboc stole the spotlight in the early hours announcing at 400 a.m. EDT that they had broken their 18month streak of sovereign gold purchases in May and sending Metals prices crashing through multiple levels of support as algorithmic stoploss orders were filled in Rapid succession spot gold sank like a stone with of the move taking place in a matter of minutes then the yellow metal was in the moments before the 8:30 a.m. release of the surprisingly strong us jobs report which drove gold down even further as markets recognized that the FED would have even less reason to cut in the near term as gold was already down over $40 at that point the NFP took the yellow metal all the way down to support now we’ll show you the best Clips but first smash the subscri subcribe button and turn on notifications so you do not miss out our daily Recaps enjoy the episode would be much better answering this uh question than I would be but I’ll tell you why I did it so you know here we are we started selling ounces you know to the retail public in 2008 and uh that business built over time and it’s was something we’re very proud of We’re the we’re the only company that you know actually uses our own silver you know ships it out from Mexico gets a refiner in the United States produces a retail product has an e-commerce website and sells our product uh you know on the internet and it’s been going on for some time so a couple years ago after the whole covid situation when when uh the interest came into the metal during the Reddit squeeze and all that uh and then even since then uh the demand for physical retail products has increased substantially um it fluctuates of course and you know it’s it’s uh um and listen to your podcast all the time and I listen to Andy all the time and I know it’s you know the premiums move around and the demand moves around but nevertheless the demand is there and yet the mints uh would not supply us with the demand that we wanted and we had we had demand that ex probably was two to 300 times uh or 300 two two to three times um uh our demand or or what what we could sell what the mints would be able to produce for us and we could turn around and sell it to our our customer base and it was getting more and more frustrating and I said you know a year and a half ago hey look let’s just do this ourselves and we we got a building we got the staff we’ve got all the equipment and we just started production literally two months ago uh we’re only producing three products currently a 5 oun Ingot bar 10 o Ingot bar and a 1 o kilo bar it’s under the name first mint um uh Nevada base uh company and we’re super proud of it uh uh we’re we’re only budgeting a couple million to go through that mint in the first year because there’s you know growing pains and you know all the things that you have to go through to get you know get it wrapped up but my goal is to get 100% of our silver ounces produced through that mint and and I’d also like to convince you know K and heckla and many other mining companies out there to also put their ounces through this mint as well and the whole rationale behind that is you know you know because you you interview tons of people and and you’re knowledgeable about this space that there’s a a a a a a leverage in the system of somewhere around we don’t know exactly but call it 300 to one you know uh there’s you know something like you know 250 trading days in a year you know silver paper markets trade something like a billion ounces a day um you know so so that’s a call just round it up to 300 to one you know for for argument sake we we produce 10 million ounces so 300 time 10 m 10 million is 3 billion ounces so so we know the banks leverage our 3 billion ounces right or our 10 Milli our 10 million ounces are leverage to three billion paper ounces so the banks know they’re getting our physical metal and they leverage that in the paper markets because they know it’s coming to them and then they know when it’s coming to them because we put up public announcements and the entire mining sector does exactly the same thing we do so the banks know how much Gold’s coming into their vaults the banks know what how much silver is coming into their vaults and they hedge that in the paper markets which creates this whole you know um manipulation if you want to call it and I’m not sure if that’s the right word but it’s basically managing their book I think is the probably the best way of putting it but but uh nevertheless it it has this constant supply of paper uh that’s that’s being put put into the paper market so during a Reddit squeege which did occur there was a ceiling on the on the paper Market because the banks knew the physical was coming in and they were happy with the price and they put a Lin on the price in the paper markets and uh then next thing you know the buying dries up because the banks are bigger than the than the paper buyers and uh of course they know that once the buying drives up this price of the paper a mar Market’s going to drop and they’re just going to sit there and buy back all the paper it’s just such a wonderful game and uh and they love doing it and they you know so what I’m trying to do is pull off those ounces so if I can pull three billion of paper ounces paper silver ounces out of the market you know it’s it’s not a lot compared to the amount trades in an annual basis but at least it’s the beginning and my my mission in life is to try to uh pull as much paper uh silver out of the market as possible what do you think of Keith’s take will more permits increase Supply over the next 18 months or would rather the inefficiencies at the administration create a massive big Bank silver squeeze Post in the comment section down below your honest opinion now watch this video right here because it’s a perfect fit for you I see you on the other side

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