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Soros, Icahn And Major New Players Rushing Into Gold: "Things Are In The Works As We Speak"
Submitted by Mac Slavo via SHTFPlan.com,
The price of gold and silver is set to explode according to one of the most well known CEO’s in the precious metals mining space.
Keith Neumeyer, the CEO of one of the world’s lowest-cost primary silver producers, says that the negative headlines surrounding history’s most trusted monetary instruments will soon give way and the smart money, including the likes of George Soros and Carl Icahn, is taking massive positions ahead of the breakout.
Neumeyer, who has created two billion-dollar companies and recently founded the mineral bank investment firm First Mining Finance, argues that the fundamentals are simply too great to ignore.
It’s really what you pay for stuff that creates value. If you’re buying stuff at the top of the market you’re destroying value. You never really know when the exact top of the market is and you never really know when the bottom of the market is. But, I know we’re around the bottom or are close to the bottom… But I don’t really care because I’m a long-term fundamental investor and I know that we can make a lot of money buying assets at these prices that we’re paying today.
...
I do believe that markets ultimately prevail. I do believe that supply and demand will ultimately prevail. I’m confident that we will see that occur...
The fact there are some very substantial new players coming into the sector and taking positions in gold and silver… I think that’s showing that things will change and I think things are in the works as we speak.
Neumeyer recently sent an open letter to the Commodity Futures Trading Commission slamming the rampant manipulation of precious metals paper markets, going so far as to call on global producers to withhold silver deliveries in an effort to bring balance to markets.
As he notes in his interview, that prices of silver are currently trading at around $15 per ounce is counter-intuitive given that demand today is significantly more than it was at the height of silver’s rise to nearly $50 in recent years. Moreover, the price at which mining companies are able to acquire precious metals assets in the ground has collapsed significantly from just a few years ago:
Generally speaking the average price that a mining company would pay for gold ounces that are drilled in the ground is about $50 an ounce. That number did go over $100 and there were some transactions that went through in the 2011 time frame that were much higher.
But I am just using generally speaking over the last thirty years… $50 is the normal one that we use as mining companies in the industry… so if we’re buying ounces today at $10 an ounce… and it’s actually lower that that… we’re paying $7 to $9 an ounce… that’s five times less than a normal market.
...
The silver market is extremely tight. Unfortunately you don’t see it in the price.
When silver was $45-$50 per ounce the demand was a little bit less than it is today. That’s a surprising statement. The demand today at $15 silver is greater than it was at that $45-$50 silver.
It goes to my earlier point about headline news and the hate on the mining sector, the hate on resources, the hate on metals… That’s what is causing prices to be where they are today.
I do believe that the street will wise up to that supply and demand fundamentals story and see that silver is actually a strategic metal.
The question, of course, is when? When will prices of silver and gold finally respond to widespread global demand?
While we can’t time the markets, if we take Neumeyer’s advice it doesn’t really matter. The long-term fundamentals are strong and the manipulation is clearly evident.
I think the supply/demand fundamentals for silver are the best of any metal. Of course gold is interesting because of the money printing that’s going on by governments. That’s why I am very much focused with First Mining on buying gold assets.
I think gold is going to start moving in the next six to eighteen months and I think gold will be driving the rest of the metals much higher.
I do believe that silver will outperform gold. The ratio currently is 75-to-1. I wouldn’t be at all surprised to see the ratio go down to 20-to-1.
...It’s not that inconceivable and that’s going to put silver in triple-digit categories.
The reality is that silver paper markets trade about one billion ounces daily. The entire yearly production of silver is about 800 million ounces. At some point that disconnect will be revealed for the sham it really is.
When that day comes we can expect gold and silver to rise precipitously as mainstream financial pundits look on with bewilderment.
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These guys have almost all already stockpiled money in gold. Only they aren't talking about their physical gold investments.
Agreed.
They would be foolish to broadcast, in advance, that they are moving into PMs.
Big enough positions to take physical delivery.
--Auric Goldfinger
(how's that Polish gold train project coming, Mr Soros?)
And if you are smart, you'd know this is the signal to sell.
LOL...Now is the sell signal?
He's right. Big players keep fucking quiet when buying. When they have enough they tell the public about it. This is intended to drive up prices so they can dump to the public at a profit.
Oldest trick in the book. What they say is opposite of what they do.
I'll buy all you've got, oh great trader.
No you won't. You are broke.
"the smart money, including the likes of George Soros"
When is the piece of shit going to go back to hell that he slithered out of?
If I wuz him I'd be collecting them new $20 bills with the famous black woman on 'em instead.
Oh, the irony. Put a black female on fiat currency.
Can't make some shit up now, can ya'?
Oprah!
Mike (Mooch) Obama
Screw that. Put a historical black woman of substance that we all grew up with on there...
AUNT JEMIMAH!
{Mmmm! I love pancakes smothered in syrup!}
You know what the slang for a twenty is going to be if they put a "famous black lady" on it? It will actually be funny as shit to listen to people talk as if they are trading slaves. And you know it will happen. Jokes > PC.
Brown Sugar
Jackson fought the central bank formation with every ounce of his being. Of course he has to vacate the $20 bill. I think they should replace Hamilton's with Aaron Burr on the $10. Hamilton would have had an orgasm at Jekyll Island. The cocksucker.
I lost everything I had investing with Peter Schiff
You bet they are. Any one who is talking gold and silver to the upside is pretty much done buying. And they won't be selling any time soon. The metals will go with out an offer until the real price is so high that people like me will say,"Oh alright, you can have a few ounces, hehe."
What's everyones view on PM mining stocks given every analyst is saying dump stocks? Do they mean PM miners too?
Keep your powder dry, Dicey. Miners, like everything else, are going to take a hammering. Or ride them down short. Of course, if Yellen QE4s, all bets are off. Do be stacking shiny though...
Oh Goody. A 30 min infommercial on ZH pretending to be news, or whatever goes on here.
Much like Yahoo!
Gold -$5.20 on the news.
They really don't mind the manipulation. The music is still playing.
Bad money (read fiat currency) chases out good money (read real money) or something like that.
rushing, as we speak?
lol
Damn right Georgy Porgy "Jew" is taking the full court press to Au!
Game Over Man!!!!
PMs are always on the verge of an epic breakout, but the never do! Buying PMs is like shorting the dollar. Do you really think that the dollar is going to do down? The world has borrowed in dollars, and if the global economy is "tanking" (seems to be a technical term here on ZH) the dollar will increase in value as thing get worse, which will depress PM values! Do you doomers here even understand economics? Your views are paradoxical. Just dollar cost average into the US stock market (under the advice of a professional advisor who can talor a portfolio to your risk tolerance), relax, and go out to dinner with your freinds. Get a nice bottle of wine with dinner. Take a vacation. Buy a new car. Everything will be fine. Don't worry.
I am not worried. But i do NOT expect everything to be fine. Try this out, it takes a bit of "creativity" to get it matched to the so called real world operations, but it is worth pondering the results at least.
Try playing a game of monopoly where one player acts as the FED, the rest are US citizens. Then play another game where EVERY player is their own CB and one of them is the FED. The key piece in these is that when you hit "free parking" and pass "Go" you collect "gold" (use pennies or whatever) that can be redeemed for paper, or used outright. Eventually, not immediately what happens to those gold tokens vs. the paper? NOTE THE RESULTS OF THAT EXPERIMENT...then tell us your thoughts of gold and silver.
So as my Canadian dollar sinks against the USD, guess what's been holding its value and is in fact up around 8%.
I'm up 30% on my USD/CAD position. Truth hurts.
The dollar is not going to "Tank". It's going continue upward until it is replaced.
Doesn't anyone listen to Jim Willile?
"professional advisor" - comedy gold
I have not been posting here long. Funny how the "regulars" seem to think there is some sort of value or credibility in pointing that completely nonsensical point out, But I digress, your comments are sane. This is a direct affront to the goldbuganti-fed PutinAssad "team" and their belief system. Your message will be lost to the crashing din of keyboards exploding in basements all over the country (and Damascus, Moscow and Tehran)
My favorite. Beautiful.
"tanking" (seems to be a technical term here on ZH)
You mean the dollar will collapse when we run out of zeros?
>>>Buy a new car. Everything will be fine. Don't worry.
Better than MDB!
Does anyone else cringe when they read "things are in the works as we speak"?
If "works" is a euphemism for "dead pig's mouth" then, yes, I cringe.
I hear the squeal of pigs at a slaughterhouse.
I just almost listened to a 30 minute commercial !!
Will his compatriots withhold their silver ? Is it a casual threat ? HEY- is that manipulation ? You can be arrested for that right?
So you are saying it is illegal for a vendor to decide to stop selling stuff? Communist much?
If I own something and refuse to sell it and a manipulated low price, how can I be arrested? Can I call the cops and get a chevy dealer arrested when they refuse to sell me a new truck for $1000? No, so back under the rock you go orck.
I'll be interested to search Whalewatcher in the coming months to see if anyone reported big new Gold ETF positions on their 3Q 13Fs.
You know what one of the many nice things about a 100oz silver bar is? You can beat a banker to death with it and then easily melt it down to get rid of the evidence. Maybe not quite as good as a 25lb hunk of meat, but still...
Not that I would ever advocate violence against bankers. They're just doing thier jobs.
They do make for one hell of a blunt force injury.
You get the 25lbs of meat if you just eat the banker. They aren't human so you don't have to worry bout that.
@undertow: Sick, but I like it. My questions is..., but is it kosher?
Watch these guys too...
http://www.ft.com/cms/s/0/b2c2dc20-f45e-11de-9cba-00144feab49a.html
Well since you billionaires are finally pulling your head out of your arse and becoming interested, would one of you mind if I would request that you take a measly 150million and buy the last .33 ton of JPM Comex gold and STAND for delivery? Or better yet, buy the whole place, registered. eligible and all for about 7.5 billion?
Black Mercedes parked in front of yur house or WHAT?
I'd like to see the PMs reflect the Trillions that have been printed the last decade.
Is that too much to ask?
Went from 300 to 1900. Did you hit the snooze?
Gold and Silver have been in a range for too long, such that any major deviation (to the upside) is unacceptable to Western banking interests, for the obvious canary-in-a-coal-mine, socio-political-economic turmoil that major upswings would induce, i.e., fear and falling confidence in U.S. denominated assets. All of which means the system will have to suffer a major dislocation, the likes of which defy policy and roll right over it. That isn't about to happen domestically...
WOW this is the first time that I have ever heard this "advice"! I better go all in now. /sarc. It is easy to republish the same story over and over until you ultimately "call" the bottom. The past 2 months I made some money trading auy and nugt. However I have made much more trading black gold visit uwti. I am still a long term stacker and I have my phez. However until we have a rally in metals that lasts more than two days it is a trader market.
Nicely done sir.
1) Submitted by Mac Slavo via SHTFPlan.com. OK now a bastion of credibility...
2) Keith Neumeyer, the CEO of one of the world’s lowest-cost primary silver producers.
we’re paying $7 to $9 an ounce… that’s five times less than a normal market.
The silver market is extremely tight. Unfortunately you don’t see it in the price.
Whats wrong with this guy? Its called supply and demand and the demand isn't there! Instead he bellyaches about manipulation... Sure. A guy with about a $BILLION vested interests complains about manipulation cough cough...
3) This entire piece is tantamount to talkinbg your book -- on steroids... Lets claim manipulation, artificially low prices and throw Soros in on the buy... Lets get buying here people! Ha!
SUPPLY AND DEMAND!!!!! Good boy, that's right......
You know the demand is HIGHER for silver at $15 and oz than it was when silver was $45 an ounce......Now explain the law of supply and demand, dipshit....
Really?
Then explain why the price is lower on demand. No really, give a real and credible reaon/methodology on how somebody/something is depressing the price with real capital to keep the price at bay. Do tell. Who is spending ~$BILLIONS to do this?
Let me give you a dose of some real world. The solar (PV) industry has been a huge user of silver paste needed to make the solar module. Recently there have been some new technologies (developed by DuPont etc) that have severly crimped the need for this silver paste. This is just one real world example.
I think the problem is you "believe" real world demand is higher than it really is. Numismatic and small bullion do not drive the silver market. Manufacturing actually drives the silver market. We know China et al are all slowing and that is not a function of "manipulation" but real world economics. Sorry but that is a fact.
Maybe you shouldn't be so cavalier with the world dipshit eh...
Well Mr. Alphahammer,
Since you've only been here a little over 2 weeks, we can't expect you to know that the FED has admitted to controlling the gold and silver price to prop the dollar since Burns (fed chair - in the 70s if you don't know your history). You apparently don't know that the gold and silver prices are not made on a "market" as you typically would describe it. They are indeed "fixed" (with all the negative connotations that imparts) by the LBMA. So the silver and gold price are decided by a bunch of bankers based on whatever they want, not market forces. Gold and Silver have gone through several periods of monthly sales that exceed annual mine production. This data has been put together by a number of very interested groups including GATA and others. Believe what you want, but that won't change reality. It is most likely that the government is draining it's strategic vault reserves to deliver to the market in hopes of buying more time. That's the only way the math works.
Something that cannot go on forever, won't - Stein's law
If this news comes out now it means these guys are not just "moving into" these positions, but are already done with the stockpiling... the peasants are always late to the party... just in time for the "sudden" rise in these "barbarous relic" prices...
I would think twice about having G&S as a get out of jail card.
The moment you try to uses G&S in a barter situation you become a target. Hell even the person doing the sale is a target
No the only way is to go into seclusion.
If I was a Multi millionaire I would have access to a cargo container ship and fill it full of Food supplies, materials and equipment, and roam the seven seas until you all die.
Somewhere on the open ocean:
(Skipper of ship "Good Samaritan") "By Jove! I think that's George Soros's container cruise ship."
<over ship intercom> "Load tubes 1 and 2 and prepare to fire"
(XO) "Sir, it's confirmed. Soros has been sighted on the poop deck strangling a dozen cute little kittens to death."
(weapons petty officer) "ready sir"
(Skipper) "sink it."
There just isn't anywhere on this earth to hide...
Save the kitties.
I could use a break. So could my miners...
No doubt LakeCity. Every time I look at the ticker, I keep hearing the voice of the guy from the song doing the limbo dance, "how low can you go" ..... The miners have been beaten up so badly they should file a restraining order against the Fed. Come to think of it, maybe that's not such a bad idea ....
I would like to hear real news.
Car seller persuading that it is THE BEST time to buy his car is not very trustworthy. Actyally ads are full of shit since it is pure manipulation.
Interviews with guys not related to silver selling bussines should be trustworthy.
Cmon don't talk to guy telling that HIS goods are the best around the market.
I guess that was one more paid article full of shit. Advertisement pretending to be news.
PM fervor is like a religion. Most of the stackers believe they're doing the rest of us a favor by trying to convert us to their belief system - just as missionaries do primitive tribes a "favor" by modernizing them. The smarter ones, the ones in power like the CEOs and billionaires, know that it's a sham, and a profitable one. PMs quadrupling in value is like the second coming of Jesus: it's always just around the corner despite never happening, even 2000 years since the ominous predictions started.
You know if you don't count the 3 other times it's happened in my lifetime, then it's like the Second Coming.
Yes, PMs are a pet rock. Believe what you want. It's no hair off my ass. I think seatbelt laws are simply a revenue generating scheme and should be abolished just like all pre-crime. Do I think seatbelts are a good idea though proven with empirical data to the benefit of the user, absolutely.
Do what you like. I wish you the best of luck.
"The smarter ones, the ones in power like the CEOs and billionaires, know that it's a sham..." Yeah, right, colonbreath... then why did Goldman just take delivery of around 9 TONNES of physical gold? Why did JPM load up with a massive amount of physical silver? Or... are they not CEO's in "power'?? Now, go back and play with your Blankfein Barbie and STFU.
Maybe he likes gold statues and is planning to commission one?
SHTFPLAN.com regurgitates fear hype, doom, currency collapse and "buy physical" nonstop, has done for years. Very Gerald Celente.
The demand for silver is higher at $15/oz than $45-50/oz... No shit.
Here is how to take advantage of gold.
http://michaelekelley.com/2014/10/16/8-things-to-do-when-recession-happens/
Here is how to get your mind off this stuff.
http://michaelekelley.com/category/humor/
Good luck!
Houston, we have a problem. Anybody see a wee red flag here?
---
Keith N. Neumeyer
Mr. Neumeyer is the Founder of First Mining Finance Corp. and serves as its Chairman of the Board.
*and*
2015-Present
Chairman, Member of Audit Committee, Member of Compensation Committee and Member of Corporate Governance Committee First Mining Finance Corp.
A member? Or the only member?
Yeah, PMs will go up the day after I'm forced to sell my last ounce for pennies on the dollar.
The markets will prevail once the central banks are gone.
Contrarian indicator. There are now more negative comments on a ZH silver/gold article than positive
gold is going nowhere in a worldwide deflationary envrionment.
and where oh where are the details on icant and soros buying gold? paulson i believe has bought gold back, but i've seen nada on icant or soros.
If deflation is everywhere, why are my bills and food costs still going up. Nope, still an inflationary environment.
The price of gold IS PAPER GOLD. It has no predictive power on inflation/deflation or anything else. Supply and demand is meaningless, because paper can be printed to infinity.
It is a manipulated market, for speculators. I'm surprised ZH readers even debate this any more.
The published reports say that the billionaires are buying gold proxies and derivatives, ie the non-physical stuff, NOT gold itself. Of course they could buy gold, but are choosing to buy the proxies and derivatives instead.
Anybody know why ?
well... I figured the gold would be shorted so much that zios could walk in, call the loans and own all the gold... how else do you think they work???? wake TFU... haven't you learned how the game of ponzi finance is played??? if they do this nations, they also do this to assets.... real estate, good companies with good prospects, and gold.... they know that money is BS... they are the masters at exchanging shekels for hard assets... Gold will go up when they want it to... pump and dump for the new ponzi fiat..
stop down voting me shekel traders... I shall not trade my silver denarius for your worthless shekel... Where is Jesus to topple the money changers table??
Ashes to ashes, dust to dust, no HCHO (formaldehyde) and he was reblended more quickly than moderns are. Who knows they may have mummified him.
fundamentals shmundamentals
the market has always been able to remain irrational longer than I can remain solvent.
funny thing about this interview is that the interviewer asked about the $40 valuation, which is peanuts... we can take this firm over, it's only trading at 39 cents CAD... so we can do to them as they do to others... dog eat dog eat gold.
I had to reload the page, I thought I had ended up in King World News for a minute,
I stack just as long, hard, and deep as most anyone on ZH, but this "Gold and Silver are going to EXPLODE higher any minute shit is way too much.
PM's will have their day when they do, and most of us will be surprised when they do launch higher for real.
You can't go wrong listening to a CEO in the mining sector.
Is the big Shemitah thing still scheduled to come riding in on a pale horse Wednesday and save us all? I sure hope so. The way things are now, the apocalypse will be an improvement. No more IRS, no more Federal Reserve ... yeah, right. That'll be the day.
I've been engaged in these markets for ten years, and it's always in the next few months, six months or eighteen months. The reality is that no one can predict the gold and silver breakout until they know the end date of manipulation. That's the critical date. When you can target the manipulation end date, that is when silver and gold will break out.
When silver was $45-$50 per ounce the demand was a little bit less than it is today. That’s a surprising statement. The demand today at $15 silver is greater than it was at that $45-$50 silver.
Me thinks the above is impossible, just sayin'.
Amazing: Statements from Snakes In Suits that lie and steal for a living.
Gold is real money, buy as much as you can
& sell the dollar,
Help! Somebody! Please buy some gold so I can get out of my long-term losing gold position and maybe buy some fiat!
If he is that confident and made the billion dollar companies,
perhaps he can effort to buy couple hundred million worth of contracts from the CME and stand by for delivery.
Is it to hard? I dont think so but for some reason everyone is talking about how the price should be higher but nobody is pushing for it.
PS: If I had the money, I would do it just for the fun of it, CME collapse should be the prize!!!