Bullion banks hold mining companies hostage by manipulating metal prices – RT’s Keiser Report

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Author: RT
This post originally appeared on RT Business News

Bullion banks hold mining companies hostage by manipulating metal prices – RT’s Keiser Report

Max Keiser interviews Craig Hemke of TFMetalsReport.com about the prices of gold and silver being unable to signal anything, thanks to interventions in price discovery.

They agree that the silver mining industry is “in the pockets” of the regulators and the Federal Reserve, “and they do what they want them to do.”

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The bullion banks hold the mining companies hostage because miners need cash flow for production, says Hemke. He explains that the miners sell their product to the banks which give them cash, and then the banks take the product and keep it for themselves. The firms “routinely withhold production because they know the price has been ridiculously manipulated lower.”

The expert suggests that if people want to diversify out of dollars, they could buy some physical metal. “That makes sense… And if we could all kind of make a practice of doing it, kind of roughly at the same time… then we could really make an impact on how this system is structured,” he says.

For more stories on economy & finance visit RT’s business section

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102
15 shares, 102 points

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