gold news

 years and years ago I think it was 2006 or something I interviewed Jeff Christian of cp/m group because I believed that the Hunt Brothers were not responsible for driving you know people I'd say gold hit 50 bucks in 1980 and people oh yeah that was the Hunt Brothers just trying to corner the market on gold and they drove it up no the Hunt Brothers were actually seriously concerned about the dollars potential demise because we almost lost the US dollar in 1980 and a lot of people almost nobody realizes that and

it was Paul Volcker coming in and the commodities exchange constantly changing the rules on them trying to smash silver down I believe that that the Hunt Brothers were the scapegoats the people that were used to cap the gold price by changing the rules to liquidation orders only on silver in January of 1980 where you could not open up a brand-new commodities contract you can only close out old ones that's a rule that says until this rule is lifted the price of silver can only go down what they were trying to do was stop

Gold's runaway because it was in a runaway and in a runaway gold can cause fiat currencies to fail and so they had to get a handle on this this is the reason they raised interest rates so high was to get debt outperforming inflation once again because the inflation all debt was losing value compared to inflation so you weren't making gains on bonds they were called certificates of confiscation but with gold in a runaway silver is a is a miniscule market when I did my book it was one the the trading that goes on in

silver in a day compared to gold silver was one three hundredth the size of the gold market back then so it's much easier to manipulate the silver market than it is the gold market and by changing the rules on silver while gold was in a runaway and silver was also in a row but it was the it was the common man that actually caused this him changing his preference from gold to silver that caused the gold silver ratio to change and silver to just skyrocket by changing the rules to liquidation orders only

there's all these people that trade both gold and silver when you go to the commodities exchange back then it was what they call pits or circles of guys screaming and doing hand signals at one another and and they're all the silver pit is right next to the gold pit and so the ID don't you think that the gold traders are saying boy if they can do that - silver we're next and so it's time to sell gold because the very next day you know gold peaked and fell as soon as they capped silver gold peaked

and fell the very next day and so I believe that that and when I interviewed Jeff Christian from CPM group years and years ago you know more than a decade ago I I told him this and he goes yeah you know the Hunt Brothers added 50 maybe 75 cents at the most to the gold to the silver price and so it was really the public changing their preference and I believe that that will happen again somewhere around 3,000 to 5,000 dollars an ounce the public is going to say wow you know gold was only 250 dollars an

ounce back in the year 2000 and it's hitting 5000 dollars an ounce it seems that seems awful expensive silver is still dirt cheap at 50 bucks so I'm gonna buy silver and I'd really think that there's I do think that there's this potential that you could see even a ten to one ratio with gold at 5,000 so that's $500 silver yeah is it gonna go there I don't know I don't have any idea and I don't want to you know stake my reputation and everything else on that but I do believe triple digits silver is

absolutely in the cards and I believe that these things are a certainty it's those long-term charts playing out it's the public rushing toward other stuff that's popular and forgetting about gold and especially for silver I mean it's just not in anybody's memory even though it is the most commonly used form of real money but even when you measure it against all of the currencies more stuff has been bought and sold throughout the centuries in silver than anything else and so there's going to come a day where

people rush back to it will it become a predominant currency once again I don't know I doubt it but when you look at the mine supply statistics in an economic downturn like this all of that that 60% that you're talking about that supply goes away because they stopped mining copper and zinc and wet and so just when everybody wants it is when there isn't any penny of new stuff available that I think is what's really exciting about silver and it's going to cause a super spike in silver and so we've got some

exciting times coming this will be great