Well known First Majestic Silver CEO Keith Nuemeyer knows what he's talking about when he stated "I'm guessing the mining sector produced something in the order of 800, maybe 825 million ounces in 2022" during a Q4 overview of his company. He has also stated that he fully expects triple digit silver and soon, going so far as to say that silver will eventually hit $1,000, as published in an article dated February 17, 2023 at InvestingNews.com.
Neumeyer also mentions the massive silver deficit we saw in 2022, which according to my research, hit 194 million ounces in 2022. He states in the article that demand far exceeded production, with demand consuming between 1.2 and 1.4 billion ounces of silver, for everything from cell phones to solar panels. Was he suggesting the silver deficit is actually closer to 500+ million ounces? He's an expert in the field. What he says should be taken to heart.
Bix Weir of RoadtoRoota.com states in a video published on March 14th on Youtube that silver riggers have just dumped a massive 800 million ounces in paper derivatives on the silver futures market. Weir says this is just below the total amount of mined silver in 2022 and was accomplished with a click of a mouse. Not a single ounce of real physical silver was traded. All on paper!
According to Weir, this was an attempt to push silver back down as precious metals began taking off after SVB, Silvergate and Signature banks went down. Alas, it didn't do much to bring the price of silver down.
In spite of this massive sell off, the spot price of silver hardly moved, as shown in the Kitco chart above. Last month, Weir exposed a 600Moz dump to push the price of silver down from $24.50 down to just below $20. Add the latest 800Moz dump and that's 1.4 billion paper ounces in about a month's time. This tells me they are getting really scary kind of desperate. Did you read any of this in the news? Of course not!
This system that has been rigged in the banksters' favor is now falling apart as they lose all control. Think a minute about that 1.4 Billion ounce total and ask yourself, 'How are they getting away with this?'. That total comes very close to 2 years worth of mined silver. As more of us start figuring this out, their shenanigans are being exposed, with thanks to excellent sleuthing by the likes of Bix Weir (future U.S. Post Master???).
In his video, Weir says that as banks fail they will be forced to sell their assets, one of the most liquid being gold and they'll sell their gold to raise said liquidity but get this, they have no silver (Except JP Morgan Chase Bank)! He expects gold to go to $5,000 and eventually to $10,000 but what about silver? He believes that there will come a time when the silver to gold ratio, presently just above 87:1, will be one to one. He points out that practically all the gold ever mined has been accumulated while silver is being gobbled up by industry which suggests far less silver than gold.
So what is the true ratio? It's a great question to ask. According to SDBullion.com, some 50 billion ounces of silver have been mined throughout history. In terms of geology, the ratio of silver and gold in the Earth's crust is actually 8:1. That's right. The average is that for every ounce of gold mined, 8 ounces of silver are mined. Financial paradigms through the ages pegs the ratio at an average 15:1. For a couple of centuries, the Japanese held the peg at 4:1. When they opened up to trade in the 1850s, Japan was robbed of an estimated 25 tons of gold within a year and a half. Outsiders / Traders took advantage by selling the Japanese four ounces of silver for one ounce of gold which they then turned around and sold outside Japan's borders for 12 ounces or more of silver and repeating the process until the Japanese government stepped in. Then, later on, the English drained China of their silver by creating the Opium epidemic. Addicts could only buy opium with silver coins (These days, it's called the fentanol epidemic and it's coming from China. Is it payback?).
The point I'm getting at is that silver is far, far more important than most people could ever know. So why is the ratio so out of whack today? Just last week, the ratio was above 91:1 and in spite of this huge 800Moz paper silver derivative dump, the ratio has improved by a few digits! The powers that be have dumped 1.4 billion ounces of paper silver in a month or so in an obvious effort to keep silver prices depressed. Doesn't look like it's working.
Silver could very well be the play of the century. Rich Dad, Poor Dad author Robert Kiyosaki thinks it is. So much so that he bought his own silver mine.
Consider investing in silver and / or gold. I think we've come to the point where time is of the essence. Also think of canned / dry foods, water, spare car parts and anything you can think of that might be needed later when liquidity drys up, aka banks go belly up. I believe the next few months and into summer are going to get rocky and strongly suggest to get prepared now. Better to be a few months early that to be just one second too late.
Remember the freakouts over toilet paper in 2020? I am absolutely sure you will not be in that crowd when it happens again. Next time though, it won't be toilet paper everyone will be after, it'll be cash. We're already seeing the long line ups at ATMs. Eventually, when the system implodes, even cash will become toilet paper.
The 'Gold Silver Tag Team' will win and are quite willing to go to the very last round, just like Rocky Balboa did and at the last second, deliver the knockout punch. The referee, Mr. Bitcoin will gleefully count all the way to ten as the system gasps its last breath and the rest of us can finally start living again!
Peace and love to everyone.
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