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Showing posts with label miners. Show all posts
Showing posts with label miners. Show all posts

Tuesday, January 3, 2017

Silver price could recover faster than gold in 2017 as metal producers prepare to enter class action lawsuit against the banks

In the wake of the Deutsche Bank revelations that the bullion banks had been colluding to rig the gold and silver markets for at least the past decade, a group of metal producers, particularly those in the silver industry, are preparing to join a massive class action lawsuit against these banks for earnings and profits lost due to the manipulation of the metal's price.

Keith Neumeyer, who is the CEO of the world's largest silver producer, spoke in an interview on Jan. 3 where he stated that he is currently talking with the heads of several mining companies that may ban together at some point in the future to jump in on an ongoing class action lawsuit that is expected to incur damages well into the tens of billions of dollars. 
Now that the cat is out of the bag and Deutsche Bank has agreed to turn over documents implicating other banks in related schemes, major mining companies are preparing lawsuits of their own. Straight-shooting First Majestic Silver CEO Keith Neumeyer, who in 2015 was the first mining company head to issue a public statement on the manipulation of precious metals prices by a small concentration of players, has said that the company’s legal team is closely monitoring the situation
Citing loss of revenue, jobs and shareholder value Neumeyer said in an interview with SGT Report that his company will likely be preparing legal action against the bullion banks involved in the rigging of prices. - SHTF Plan
In addition to this, and on a separate note of interest, many precious metal analysts have been citing the greater potential for silver to rise in value much faster than gold in the future, especially as governments begin to crack down on gold ownership in the wake of collapsing currencies and monetary policies.  And with the expectation of silver being the catalyst for new technologies expected to arrive over the next five to ten years, once silver completely breaks away from its manipulation, the rebound back to a historic 15:1 or 10:1 ratio to gold will make it potentially one of the best investments of all time.

Tuesday, June 14, 2016

Potential for gold shortages expanding as miners decide to hold 20-30% of output off the markets

Besides the historic accumulation of gold by countries such as Russia, China, and India over the past four years, and increased speculation in the precious metal by billionaires and well known hedge fund managers, there is another element to add the to the mix that could soon be tightening supplies and driving up prices.

In an interview with SGTReport on June 12, the CFO of MX Gold Corp is joining in with others in the mining industry to hold back between 20 and 30% of their gold output from the market, and stockpile it until prices rise to a more equitable fair value in or out of the Comex.

For years, the Commodities Exchange (Comex) and the London Gold Fix have manipulated and suppressed prices in order to protect paper currencies in the U.S. and Europe, and this has led to an environment where it actually costs mining operations more to take it out of the ground than the price they receive from mints or refiners.

MX Gold Corp CEO Akash Patel and CFO Kenneth Phillippe say that they are positioning their company to stockpile between 20% to 30% of their physical gold production in coming months, noting that prices are nowhere near where they should be at current supply and demand levels. In an interview with SGT Report, Phillipe appears to be taking the stance of many precious metals investors, which is to stockpile the physical asset in anticipation of any number of potentially cataclysmic economic and monetary events like the hyperinflation we are witnessing in Venezuela. 
We want to pull out the physical gold… We want to take this gold and we want to store it. We believe that having the physical gold in the vault makes a lot more sense than selling it at these prices. Gold is ready to move. We believe it’s going to continue to rise… we’re going to be storing our gold and holding it for the long-term. - Shtfplan.com

Friday, January 29, 2016

Got Karatbars? London metals price fix breaks threatening the West's future ability to determine prices

Besides being used to determine daily spot prices for gold and silver, the London/Comex price fix mechanism is also used to settle large trading positions between big banks and investors, and at what price the brokers purchase metals from the originating miners.  And on Jan. 28, this mechanism broke right at the time of the daily 'fix', sending silver shooting downward prior to the open when such contracts are settled.

According to Saxo Bank, which participates heavily in the daily metals price fix, this 'flash crash' was not a mistake, and threatens the entire integrity of the London and Comex price determination for commodities such as gold and silver.
At the time of the auction, which begins at 12 noon London time, the spot price was at $14.42 per ounce while the futures price on the CME was at $14.415, leaving a number of market participants extremely confused as to what has happened. 
“The LBMA Silver Price is established through a transparent electronic auction mechanism designed to adjust the price until there is equilibrium between buy and sell orders,” a CME spokesman said. 
“Given the orders placed in the auction today by five participants, the buy and sell orders became balanced after 29 rounds and the LBMA Silver price was established at a price of $13.58,” CME added. 
The difference between silver price and futures prices was nearly six percent but the benchmark cannot be changed, a second person familiar with proceedings told FastMarkets. 
“Unfortunately, it’s not [a mistake],” Ole Hansen, head of commodity strategy for Saxo Bank, told FastMarkets. “This could be the end of the fix. It took 14 minutes to find a fix - they obviously found a fix way off of the market.” 
Another source also suggested that the continued existence of the fix has been put in jeopardy by the huge discrepancy in today’s price, adding that many producers - who still use the price as their daily reference - may have lost significant amounts of money if any contracts have been settled according to the fix. - Bullion Desk

Flash crash at LBMA after London Price Fix breaks

Of course what is at stake is the credibility for London and New York to continue to be the gatekeepers for determining gold and silver prices, especially as China is expected to announce their own price mechanism as early as April.  And when this occurs, gold sellers from central banks to the miners themselves will be enticed to leave the confines of the manipulated London price fix and make China the new capital for gold, silver, and all monetary metals... and at a much higher price.


The West for the past five years have used the Comex and London Fix to protect the dollar and suppress the true price of gold and silver as a way to mask the effects of money printing, quantitative easing, and zero interest rates.  And a loss of their ability to control prices would suddenly put all currencies in the West in peril, and open the floodgates for a complete lack of confidence in the dollar.

So if the processes that have controlled the price of gold for over a century are starting to break down, and a new gold pricing mechanism is waiting in the wings to take over price discovery, what is the best way for you to protect yourself from a dollar or euro collapse, and to be in at the ground floor of some of the lowest prices in gold that will occur in our lifetimes?

You can do this with a company called Karatbars



Buying gold through Karatbars is one of the easiest things on the net.  In fact, the business model of Karatbars is to sell gold in affordable quantities, such as 1, 2.5, and 5 gram increments, and allow customers to get into the metal without having to shell out $1200+ for a single ounce coin.

And as added perks to signing up with Karatbars, as a customer or affiliate, Karatbars is working on a new e-wallet system that functions just like an offshore bank account, and is outside the authority of the banking system.  From there, you can take your fiat currency in any denomination... dollars, euros, yen, etc... and purchase physical gold which can either be delivered directly to you, or stored for free at one of Karatbar's vaults.

Additionally, any gold that you buy can easily be sold back to Karatbars, or any metals dealer, and if with Karatbars it is then exchanged for currency that is uploaded to you through a pre-loaded debit Mastercard which is connected directly to your e-wallet.  And as we know, MasterCard is recognized in nearly every country around the world, and usable in any currency that accepts it.

But perhaps the best feature with Karatbars is their affiliate program, where you can earn money off commissions from getting others to sign up and become a customer or affiliate.  Not only do you receive commissions from their purchasing of physical gold, but you also earn commissions from anyone who buys a commission package, with that money going directly into your debit MasterCard when you have enough units to cycle.

Imagine the ability to earn the money in which to buy your gold savings simply by purchasing a commission affiliate package one time, and then getting others to sign up and do the same thing.

How many businesses or entrepreneurs can build an infinite business with spending less than $400 of their own money?  And there is never a mandatory requirement to buy beyond what you desire, on your own schedule.  And there is nothing to lose, because you're using money (paper dollars) to buy gold (physical money) and in the end you don't lose a thing.


The global financial system, along with dozens of respected economists, are telling us that now is the time for the end of our current form of money, and the beginning of the transition into a new monetary system that is expected to be backed by gold.  And with banks, governments, and even Harvard professors mandating that central banks have no choice but to eliminate cash from usage by the people to stave off collapse, will you wait until it is too late to make a decision on how you will protect your wealth, and be able to function within the coming new monetary system?

To learn more about Karatbars, you can contact the individual who sent you this article, and click on their referral link to open a free account and begin buying, or building your own gold savings or business with the company of the future.