Crypto Silver And The End of Price Manipulation

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Still trying to catch up on my podcasts after the holidays and came across another interview that I think those into physical silver will find promising.

I think we are all waiting for the day that the price tampering by the paper market comes to an end. It sounds like there is hope that it may becoming sooner than later.

Silver Doctors' Elijah Johnson did an interview with Keith Neumeyer, CEO of First Majestic Silver Corp, where they discussed the future pricing of silver.

As if we weren't aware of the price manipulation by the COMEX, CME and LBMA, Neumeyer points out that the current mining of silver and gold is at a ratio of 9:1. Which means 9 ounces of silver is being mined for every 1 ounce of gold. Yet the price ratio is currently around 80:1 which indicates silver is much rarer than people believe it is. In fact he believes there is going to come a day in the near future that a lack of silver will prevent companies like Tesla, Apple, Toyota and many others from producing their products.

Blockchain to the rescue

Neumeyer is skeptical of bitcoin (like most physical metal insiders) and admits it might be because he doesn't have any and feels he missed the boat.

Nevertheless he believes that blockchain technology is going to end the current pricing system of today. Blockchain will allow mining companies to set the price and sell directly to the consumers, eliminating the marginal banking that is the cause of the current price manipulation.

Coming soon to a mine near you

Neumeyer indicated, that although still it's infancy, there is work going on within the mining industry on a blockchain based pricing and distribution system. Let's just hope it happens sooner than later.

Here is a link to the interview and if you found my overview interesting I would suggest taking a listen. Interview starts a 1:06 if you want to skip to it.