Keith Neumeyer: Silver/Gold Manipulation Ending Soon?
Keith Neumeyer: Silver/Gold Manipulation Ending Soon? by Rory, The Daily Coin
You’re asking whats going to influence the price. This reminds me very much like 2001. We had the stock market rally like crazy from 1998 to 2000; we had Y2K, many of your listeners may not know what Y2K was; but Y2K was a big concern it drove the NASDAQ from 2,500 to over 5,000 and then it cracked and when it cracked silver was 5 bucks an ounce, gold was $250 an ounce. All the sudden the metals started to move. From 2002 to 2012 we all know what happened – silver went up 10 times, gold went up 8 times. I think we are right in the beginning of a brand new cycle. You never know, of course, when the NASDAQ is gonna crack or when things are gonna change. When they do change, they’re going to change very dramatically. I think we are going to see a repeat of what we saw from 2002 to 2012. ~Keith Neumeyer – The Daily Coin
If you were a shareholder of a large company with a significant position of stocks would it bother you if that company was continually fined for criminal activity and continually hit your stock to pay these fines? Would that bother you after, say, $30 billion in fines? What about $50 billion in fines? Do you think the larger shareholders of these criminal banks, the shareholders that are not in “the big club” have been voicing their concern the past few years as these insolvent, behemoth banks are continually dragged into court and have another fine levied against them? My guess is, after a while, the shareholders, the significant shareholders, have been beating down the door of these big banks.
A few weeks ago I interviewed Craig Hemke, TFMetals Report, to get an update on the precious metals. During that interviewed he suggested the too big to jail banks may be growing weary of manipulating the precious metals markets, due to the cost, the resources and share holders.
When I sat down with Keith Neumeyer, President and CEO, First Majestic and Chairman, First Mining Finance, he echoed what Mr. Hemke stated. While I agree the situation, at this point, is probably very taxing on the shareholders having to dole out billions and billions and billions for fines due to the criminal activity of these banks, I contend the banks could care less about the fines as the banks do not actually pay the fines. The real question will be answered when the shareholders rise up and demand answers and their money back.
The GDXJ “rebalancing” is over. This has hit the junior miners stock valuations in a negative manner. The punishment to some of the individual miners was pretty harsh, creating an opportunity to get in the market at a better price point, but the overall has remained fairly healthy. The GDXJ, as of the recording of this show, was still up more than 15% YTD while the S&P 500 is up only 7.7%.