Must Watch Video

120
Thu, Oct 23, 2014 - 9:01pm

By now, most have seen last week's announcement from First Majestic Silver regarding their decision to withhold some silver from the market at these price levels. In this remarkably candid interview, the CEO of First Majestic proposes a new "Silver Producer Cartel" to counter the price manipulations so prevalent in today's paper markets.

This video is posted at Dan Ameduri's FutureMoneyTrends site. You can find it here: https://www.futuremoneytrends.com

In this 15-minute interview, Dan and his guest Keith Neumeyer, the CEO of First Majestic Silver, discuss a number of very important topics, including:

  • First Majestic's recent quarter
  • The rationale for holding back silver from the market
  • How to operate a mining company at these price levels
  • The idea of forming a "Silver Producer Cartel" to counter the manipulative effect of the Comex

Remember, as you listen, that First Majestic is world's largest primary silver producer.

This is fabulous and extraordinarily timely. Please be sure to give this interview a thorough listen.

TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  120 Comments

Oct 23, 2014 - 9:02pm
Gamble
Oct 23, 2014 - 9:05pm

Working late turd?

Good on ya!

gamble gamble

FutureMoneyTrends
Oct 23, 2014 - 9:12pm
Gamble
Oct 23, 2014 - 9:13pm

This was too important to wait until morning

Plus, with the NYC Ebola stuff...No sleep for Turd.

NYC mayor Deblasio presser LIVE FEED below:

Dr. P. Metals
Oct 23, 2014 - 9:16pm

I've been quiet For all of 4 hrs :)

now this could be very significant. This is worth discussion and monitoring yes timely for sure. Thx turd.

Gamble
Oct 23, 2014 - 9:25pm

Did that audio seem weird and

Maybe edited and cut together with two different interviews?

whatever he said what he said, I would suggest the CEOs and presidents of gold companies have the same discussion !

gamble gamble

boomer sooner
Oct 23, 2014 - 9:27pm

I take it that there are no

I take it that there are no Big bankers on the board of First Majestic.

Dr. P. Metals
Oct 23, 2014 - 9:27pm

Dr. P

We're all friends here and definitely all in the same boat.

Hang in there and thanks for being a part of the site.

boomer sooner
Oct 23, 2014 - 9:30pm
DayStar
Oct 23, 2014 - 9:39pm

Harvey's Up! (TFMR)

Harvey's Up! https://www.tfmetalsreport.com/comment/626026#comment-626026

  • Mark O'Bryne (GoldCore): Microchips embedded in the arms of citizens to track their activities, the total destruction of the middle classes and a cashless economy where an authoritarian state can freeze the accounts of dissenting citizens excluding them from all economic activity... These are all part of the cheery scenario painted by the highly respected author and IMF-insider with connections to the Pentagon, Jim Rickards in his most recent article for Agora Financial. "In the year 2024" as the article is called, capitalism and markets will have been abolished in favour of a marxist dystopia managed by the "New World Order." The savings and assets of the middle classes will have been annihilated. This unfolds through a series of panics and shocks to the markets and hyper-inflation. As the hyperinflation takes hold there is a mass exodus out of paper currency and into gold. The G-20 arrange for the mass confiscation of gold, to be stored in an enormous vault in the Swiss Alps, in order to force the public back onto newly created digital currency. To ensure that the public cannot protect themselves from the profligacy of governments gold is taken out of circulation forever. "Shock doctrine is simple. Political leaders use crises to ramrod policies into place no one would accept in normal times." Using this model the elites simply wait for the next crisis to unfold and then use the fear and confusion ("people begin to value order over liberty") as cover for implementing anti-democratic agendas. Rickards cites the USA Patriot Act which was passed by congress following the 9-11 attacks. In that highly charged atmosphere, reams of legislation - which had obviously been drafted before the attacks just waiting for the appropriate crisis - were rushed through congress. Privacy in the face of the state is now a thing of the past in the U.S. The private communication of all citizens are collected and stored on a database to be monitored at will by intelligence agencies who are not accountable to the public in any real way.
  • David Schectman: According to an industry insider I know, JPMorgan was the largest physical buyer of silver heading into the summer, but then they stepped away, sold the crap out of the metal on the paper market, knocking the price down $3/oz. and then came back in and bought up the silver (physical) at a huge discount. What a scam!
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  • James Wilson and Michael Hunter: Demand from China and other parts of Asia will support the price of gold, the chief executive of one of its largest miners said, as the precious metal traded near its strongest level in six weeks. Chuck Jeannes of Goldcorp said he saw "as much clarity in the market as there has ever been," with a "floor" created by strong demand whenever gold reached or fell below about $1,200 per ounce. "The anecdotal evidence is that gold goes down and physical demand goes up," Mr. Jeannes said in an interview with the Financial Times. "A huge number of physical buyers in the world see gold as a bargain below $1,200."
  • Ted Butler (Butler Research): As I mentioned previously, JPMorgan's concentrated short position in Comex silver is now lower than it has been since acquiring Bear Stearns in early 2008. If anything, JPM's Comex silver short may even be lower than I have calculated, simply because it is no longer that large relative to the holdings of the three other big shorts. With just over 34,000 contracts held short by the big 4, once you subtract JPM's 10,000 short contracts, the remaining three shorts average 8,000 contracts each. This is a far cry from years earlier when JPMorgan singlehandedly held as many as 40,000 contracts of Comex silver net short and represented close to 70% of the big 4's total silver shorts. Both the longer term and recent trends seem to indicate JPMorgan may not wish to remain the prime silver manipulator as it clearly had been in the past. Throw in my previous speculation that JPMorgan has been buying physical silver over the past three and a half years with a reckless abandon and may, in fact, be Mr. Big when it comes to buying in SLV and in Silver Eagles; it is easy to conclude that JPM may hold an extreme net long position in silver despite holding 10,000 Comex contracts (50 million oz) short.
  • Smaulgld: In September 2013 we began tracking the silver to gold sales ratio as reported by the U.S. Mint comparing the number of one ounce American Silver Eagles sold to the number of American Gold Eagles sold. In September 2013, the U.S. Mint sold 364 times more Amerian Silver Eagles than American Gold Eagles. From October 1, 2013 through October 21, 2013 the U.S. Mint has sold 476,500 American Gold Eagles and 42,653,000 American Silver Eagles or 100 X more Silver Eagles than Gold Eagles, far exceeding the 2013-2014 gold silver ratio of about 62:1. Indeed, 2013 was a record year for American Silver Eagles sales, and a record year for over all silver demand. Sales of American Silver Eagles in 2014 are on pace to surpass last year’s record sales. Admist this surging demand, the price of silver has fallen from a high of $32.23 in January 2013 an ounce to $17.50 in late October 2014. The price of silver is lower today than its 1979-80 average prices. In September 2013, we surmised that the supply demand imbalance was a temporary market anomaly that would soon adjust. It hasn’t. The price of silver continues to fall as demand increases. The reverse dynamic of declining sales and rising prices has taken place in the real estate market.* What is causing these imbalances? Quantitative Easing (drives real estate and stock prices higher) and manipulation (drives silver prices lower) – two names for the same thing. It’s the Fed’s stated policy to keep interest rates low in order to boost the stock and real estate markets. It seems that they have achieved these price increases without a corresponding increase in demand or nominal exchange listed company profits. It appears to be an unstated policy of the Fed and central banks to suppress the price of precious metals.
  • Andrew Hoffman: Volatility, by definition, means the odds of a large move in either direction are equal. However, as noted above, gold and silver NEVER have significant upward movements - and even when sharply rising, they ONLY occur at the same time of day (the Comex open) ALWAYS capped by the aforementioned "Cartel Herald" algorithm. Conversely, there are no limits to the amount, depth or viciousness of PM price declines. As for stocks, the polar opposite is true - as they are NEVER allowed to materially decline; are constantly "goosed" higher, and have a constant backstop of both PPT buying and relentless propaganda. So please, let's stop kidding ourselves with the "volatility" fallacy - particularly as relates to silver, which has been so brutal attacked for so long, it has become "common knowledge" that the commodity with perhaps the most bullish (and stable) supply/demand pictures is "wildly volatile." My friends, the only reason this is so is because TPTB are so terribly fearful of it - knowing full well it is the "financial world's Achilles Heel." Thus, we cannot be more vehement in our view that its risk/reward trade-off has never in history been more favorable - particularly as at any time, on any day, history's most maniacal suppression scheme could abruptly end permanently.
  • Zero Hedge: Just when you thought it was safe to assume that Ebola-in-America was fixed (one day into Ron Klain's tenure as Ebola Czar), NYPost reports some rather disquieting news. A New York City doctor - who returned from treating Ebola patients in Guinea 10 days ago - has been rushed under police escort to Bellevue Hospital... He is being tested for Ebola. Market liquidity has dried up instantly! *PATIENT BEING TESTED AT BELLEVUE FOR POSSIBLE EBOLA, NYC SAYS. *NYC HEALTH DEPARTMENT TO ISSUE STATEMENT SOON, SPOKESMAN SAYS. *NYC: PATIENT WITH FEVER, GASTROINTESTINAL SYMPTOMS AT BELLEVUE. *NYC SAYS PATIENT EBOLA TEST RESULTS EXPECTED WITHIN 12 HOURS. *NYC TRACING ALL OF PATIENT'S CONTACTS. *NYC HEALTH DEPARTMENT ALSO WORKING CLOSELY WITH HHC. Update #2: POSSIBLE NYC EBOLA PATIENT DID NOT SELF-QUARANTINE: CNN. POSSIBLE Zero Hedge: Just when you thought it was safe to assume that Ebola-in-America was fixed (one day into Ron Klain's tenure as Ebola Czar), NYPost reports some rather disquieting news. A New York City doctor - who returned from treating Ebola patients in Guinea 10 days ago - has been rushed under police escort to Bellevue Hospital... He is being tested for Ebola. Market liquidity has dried up instantly! *PATIENT BEING TESTED AT BELLEVUE FOR POSSIBLE EBOLA, NYC SAYS. *NYC HEALTH DEPARTMENT TO ISSUE STATEMENT SOON, SPOKESMAN SAYS. *NYC: PATIENT WITH FEVER, GASTROINTESTINAL SYMPTOMS AT BELLEVUE. *NYC SAYS PATIENT EBOLA TEST RESULTS EXPECTED WITHIN 12 HOURS. *NYC TRACING ALL OF PATIENT'S CONTACTS. *NYC HEALTH DEPARTMENT ALSO WORKING CLOSELY WITH HHC. Update #2: POSSIBLE NYC EBOLA PATIENT DID NOT SELF-QUARANTINE: CNN. POSSIBLE NYC EBOLA PATIENT TOOK UBER TO BOWLING ALLEY YDAY: CNN.

https://www.tfmetalsreport.com/comment/626026#comment-626026

DayStar

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