by Steve Brown, The Duran:
A discussion of the ‘earth’s crust’ gold-to-silver ratio is complex; suffice that the ratio of sixty-five ounces of silver per one ounce of gold (per current quoted Wall Street spot price) is an high-end estimate, and the mining ratio to mine the actual product is about 8-to-1. So why is the quoted Bank of Big silver spot price so out of step with the physical market price which is at least $10 per ounce higher?
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Silver is generally not considered to be a strategic metal, because in the past it has not been. But that situation has changed. According to BullionVault, silver is ‘… invaluable to solder and brazing alloys, batteries, dentistry, glass coatings, LED chips, medicine, nuclear reactors, photography, photovoltaic, RFID chips, semiconductors, touch screens, water purification, wood preservatives and many other industrial uses.’ All of that especially includes the tech sector, a sector of the economy where enforced deflationary pressure has been great for many years. Understanding ‘enforced deflationary pressure’ is key to understanding how the silver spot price is suppressed.
Formerly the secretive Silver Users Association then morphed to become the Precious Metals Association of North America which is now a subsidiary to the International Precious Metals Institute (IPMI). I’m not sure the IPMI is really in need of the $200 it charges to join, but have no doubt that despite its front-facing positive statements about the metals, the true agenda of the IPMI and its sponsors is to see the price of silver suppressed — just as they always have by any name. Think of the IPMI as being a jeweler’s guild with very close links to the LBMA; the LBMA being one of the key gamers of the silver market along with the Bank of International Settlements.
As we’ve explored in The Illegal Gold and Silver Fix the fixing of a commodity’s price is patently illegal, and the precious metals are the only commodities to have their price fixed. So why is that allowed? Well, if the price-fixing lawsuit had been allowed to proceed in the United States, the US government believed a negative outcome could impact the economy, hence the US government kiboshed the lawsuit. (see GATA website for details)
Motive for the crime is of course the Fed-Treasury. The Fed has whined about low inflation for years while obscenely expanding the money supply to impact land and property prices, Wall Street share prices, certain commodity prices, and its own gamed debt market. A notable commodity left out is silver. That’s because silver is key to billions in imports with regard to the tech sector, which supports this credit-driven economy.
The US cannot dominate by food and weaponry alone, the economy survives on consumer credit which requires cheap foreign goods to drive demand. If silver were to rise, those consumer goods will escalate in price, and Americans will see inflation in far more than property or Chipotle Mexican Grill share prices. When silver rises, the cost of computers, cell phones, IC chips, communication gear, cars and trucks, and all related prices will rise exponentially… that’s something the Federal Reserve and its partners in crime wish to criminally suppress.
Now we have a large and growing sector, understanding of the Federal Reserve’s criminal activity in collusion with the major Bullion Banks.* Their hope is to challenge Monetary Empire which has given us endless wars, destruction of the environment, destruction of health and education, and an unfair system ruled by a tiny cadre of perverse technologists and trillionaires.