Just in case you were distracted by one of the twenty million things going on in the world, comes this article from Activist Post:
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”.
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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.
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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 its reserves in gold, demand the return of all its gold being held overseas, and will cease selling gold to the rest of the world.
If that doesn’t come to pass though, an even bigger event is brewing in China, and it threatens to destroy London’s monopoly on gold and silver pricing once and for all. For nearly 300 years, the London Fix has determined the global price of gold. Now China has opened a free trade zone in Shanghai, and an international gold exchange along with it. Essentially, there will now be two prices for gold. If China doesn’t agree with London’s price, they can set theirs higher or lower. I’m betting they’ll set the price higher, because China has a much greater interest in Gold that most Western nations.
Which brings me to the next major factor that will affect the price of gold. Countries like China and India continue to outmatch the demand of every other country on Earth. Asia is responsible for the majority of the global precious metals market, and that demand isn’t just coming from the government. Private citizens are getting in on that action as well, especially in India where gold has been a traditional store of wealth for centuries.
That doesn’t mean governments aren’t still hoarding massive amounts of gold. With sanctions putting pressure on Russia, Putin’s government has been doing everything it can to separate itself from the dollar. That includes increasing its gold reserves by 54 tons over a six-month period. The new purchases have made Russia the sixth largest country in gold reserves. They now have a total of 1094.7 tons of gold, which is more than China. While every national currency is racing towards the bottom to keep their wealth from being traded overseas, it seems like every government, (except for the U.S. and Britain) is trying to buy up as much gold as they can. You can imagine what this will do to gold prices in the near future.
What you may not have imagined, is how the Ebola virus will push the price of precious metals. I’m not talking about the virus causing an economic collapse or anything like that. I’m talking about the numerous gold mines that are situated in West Africa. Ghana alone is the world’s 10th highest gold producing nation. Even if Ebola doesn’t significantly affect the rest of the world, it could easily continue to ravage West Africa, and put a halt to its gold mining operations.
If you ask me, it looks like 2014 is going to be the last year of cheap gold and silver. You have mining companies tired of their goods being priced by the phony stock market. You have citizens around the world trying to protect their wealth from inflationary currencies, and you have governments trying to invest away from the dollar. We’re seeing century-old monopolies being shattered right before our very eyes, and even acts of nature threatening to dismantle the old order.
It almost seems like the whole world is coming down on gold all at once. Call it Karma. What comes up must come down, and vice versa. Decades of market manipulation and centralized price control have created huge imbalances in the system, and a massive and global backlash is bearing down on the price fixers.
The free market is finally catching up to the schemers, and anyone who is holding paper stocks and fiat currencies is going to lose.
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