Earlier this week, Mac Slavo reported on an interview conducted with the CEO of Future Majestic Silver Corp, Kieth Neumeyer. In it, Mr. Neumeyer proposed a brilliant way to put an end to the blatant manipulation of the gold and silver market. If all of the mining companies in the world agreed to halt production for a single 30 day period, it would ‘send ripples throughout the entire system’.
It would show the phony paper market who’s really in charge. With the price of 800 million ounces of physical silver being controlled by 1 billion ounces of paper stocks, a challenge like this could make stock prices tumble while the price of real silver goes through the roof. He suggested that they agree upon a month sometime in 2015. I’d be willing to bet that the anticipation of that event, would make silver prices go ballistic long before that month arrives.
Of course, even if Mr. Neumeyer doesn’t have his way, there’s a long list of events on the horizon that could push gold and silver back into the spotlight. There’s so many factors that are converging at once, that if only a few them come to fruition, we can expect gold and silver to be making some serious gains by the end of this year.
Another challenge to metals market may be coming down the pike by the end of this month. In Switzerland, a referendum is being planned for November 30th, that could bring about the first gold backed currency in decades. Currently, polls show that support for the bill has a very narrow lead, so we’ll see what happens in the next few weeks. If it passes, Switzerland will hold 20 percent of it’s reserves in gold, demand the return of all its gold being held overseas, and will cease selling gold to the rest of the world.
This post was published at The Daily Sheeple on October 26th, 2014.