Join BullionStar's Ronan Manly in conversation with Keith Neumeyer, President, CEO and founder of First Majestic Silver Corp.
First Majestic is one of the world’s largest primary silver producers, with extensive production silver and gold mines in Mexico and Nevada.
In this fascinating discussion, Keith explains everything from the supply-demand deficit in the physical market, to why the current price discovery structure of precious metals prices needs replacing.
Keith also discusses the growth and evolution of First Majestic and the company’s plans for 2022 and beyond, while also giving his views on silver and gold prices in the year ahead.
This BullionStar Perspectives video filmed in January 2022 and can be viewed here:
The interview with Keith is 42 minutes long and each topic in the interview is clickable as follows:
00:00 Introduction
00:35 First Majestic – locations and recent developments
03:36 Diversifying jurisdictions and diversifying metal resources
07:01 Differing perspectives of primary vs secondary silver producers
08:39 The physical deficit and paper trading
11:38 Paper manipulations and flawed price discovery
14:27 A different pricing mechanism – taking the banks out of the system
16:07 What would a physical price discovery market look like?
19:22 Silver Institute / World Gold Council ignore price discovery
21:56 Why was the CFTC and Wall Street so terrified of the Silver Squeeze?
25:19 Is silver the Achilles Heel of Wall Street?
26:23 Strategic stockpiles of silver - Russia, China, India?
28:20 Inflation-adjusted prices & the Gold/Silver Production Ratio
30:10 Silver Majestic’s online physical bullion store
32:17 First Majestic shareholders - Eric Sprott and Van Eck
As much as I like silver, I'm so tired of hearing promises of silver exploding that it's really become a broken record. The bottom line is that the market is manipulated by the big guys. It's virtually the same as price fixing of commodities by communist countries resulting in low prices for things that cannot be bought anywhere. I've kinda reached the conclusion that the day it explodes to triple digits will be the same day that the dollar crashes, resulting in a net zero gain of spending power. Well, not exactly net zero but the true spending power of the metal won't be as dramatic as we think when we hear about $800 silver prices.
The place to be is crypto. So far, it's not a manipulated market. That could change as big finance gets its grubby fingers on it but for now the volatility is characteristic of an unmanipulated market.