Silver Expert Predicts $140 Silver

The Motley Fool has an interesting article on Keith Neumeyer, CEO of First Majestic Silver, a major silver miner, predicting a $140 silver price.

Is silver really in such short supply that not only could it double in value from its current price, but triple or even quadruple? First Majestic Silver (NYSE:AG) CEO Keith Neumeyer says you would be crazy to think silver will be trading at $30 or $50 per ounce within the next few years. Nope, instead he believes silver will hit $140 per ounce, a ninefold increase from where it stands today.

Notably, Neumeyer believes the higher prices will be driven mainly by the increasing demand for silver in cellphones and other electronics, due to economic growth in emerging economies.

Also, he recently suggested silver could hit $1,000 and gold $10,000 in an interview with Future Money Trends:

Gold Standard Gaining Mainstream Interest

The Chicago Tribune has a new article about how the gold standard is gaining mainstream support as more people realize the flaws of the current monetary system.

George Gilder thinks gold-standard ideas are on the way back whatever the politicians do. Founder and chairman of the Gilder Technology Group and a bestselling author who helped popularize supply-side economics in the Reagan era, he says the trillions of dollars that fly around global currency markets every day are a “bizarre abuse of capitalism,” sucking vitality out of the real economy.

Gold Infographics from Visual Capitalist

Since infographics are the rage nowadays, we’ll provide the Gold Series by Visual Capitalist. Below is the four-part series.

Here is the history of gold.

Here is mining and supply.

Here is uses and demand.

Here is gold as an investment.

 

China Reportedly Acquiring Gold Mines

According to FutureMoneyTrends, China is preparing for a new global monetary arrangement by not only buying above-ground gold but also by acquiring gold mines.

If true, this is an interesting and seemingly very effective strategy given that gold reserves throughout the world are getting depleted due to demand and given the difficulty of extracting gold from the earth’s crust.

RCM Sells One of World’s Largest Gold Coins

The Royal Canadian Mint just offered one of the largest and purest gold coins available in the entire world. The coin weighs 3,215 troy ounces and is .99999 (five nines!) pure. It is a remarkable feat for the sovereign mint. It is valued at over $5 million (USD) and has a face value of $1 million. There are only five in existence. Gold Core is selling them.

Jim Rickards: Gold to Reach $10,000

Here is an excellent interview of economist Jim Rickards, author of “Currency Wars,” with Hedgeye CEO Keith McCullough. In this interview, Rickards debunks numerous arguments made against a gold standard and gold by the general public and media pundits.

He points out numerous advantages that tangible wealth has over intangible wealth, and asserts that the current system is a “shadow gold standard,” given the increased interest in gold by central banks around the world, particularly in the east.