Keith Neumeyer recently sat down for an interview with Crush the Street and made it clear that mints are being overwhelmed by the demand for silver. Neumeyer also opined on the government’s response to the pandemic saying “governments can’t keep businesses closed.”
And we’d agree with him. At some point, even if restrictions are never lifted, people will leave their homes to look for work. Humans cannot be locked up house arrest for much longer, and have already been asked to endure too much. Neumeyer said “already they [the government] are destroying small businesses…” and “governments can’t prevent everyone from going bankrupt.”
Unfortunately, the big corporations will be fine and come out even bigger as the small businesses go under and are no longer able to stay in business. This is crony corporatism at it’s finest. Neumeyer says the government has overreacted and caused massive damage that cannot be undone.
Vegetables are not being depleted, but processed foods are not available. People have bought them out. Most others have has a similar experience at their own stores, says Neumeyer.
Once the conversation shifts from food and toilet paper to precious metals, Neumeyer says “this is the perfect storm.” He says “people have realized that governments are not going to stop printing money. They have put themselves into a corner.” What does that mean? “We’re going to be awash in currency no matter where you are on the planet. Which means you must own gold. I think gold’s your safe haven.”
“I still believe silver is going to outperform gold in the next couple years,” Neumeyer added. There is no mint in the world that has $12 silver because the mining industry didn’t sell any silver at those prices. (Neumeyer’s companies never sold silver in the $12 dollar range despite the spot price being that low.) There’s no point in selling at these prices, so companies are just going to hoard it as opposed to take a loss on it.