In a continuation of his recent interview with Liberty and Finance, Andy Schectman, CEO of Miles Franklin, further elaborated on the alleged manipulation of the silver market, pointing fingers at the military-industrial complex and major Western banks. Schectman's assertions, while controversial, shed light on the complex forces at play in the precious metals sector.
Schectman's core argument revolves around the idea that the sustained suppression of silver prices is not driven solely by profit motives, but by a larger geopolitical agenda. He contends that the military-industrial complex, along with powerful financial institutions, benefits from artificially low silver prices due to its crucial role in various industries, including defense and technology.
"Why put so much effort into holding down the price of silver is the question that needs to be asked and then work backwards," Schectman stated, emphasizing the need to look beyond surface-level explanations. "It's not profit. There are many other things they could do that would not be as risky as what they're doing. There is a bigger agenda with silver."
Silver's "Plurality in Demand"
Schectman highlighted silver's unique position as a commodity with diverse applications. "You have monetary demand, you have industrial demand, you have military-industrial complex demand," he explained, arguing that this "plurality in demand" makes silver a strategic asset that powerful entities seek to control.
He further criticized the "war-mongering" and the push for increased military involvement, suggesting that these actions are driven by a desire to maintain cheap access to silver for weapons manufacturing. "If that's really what you want and you want to continue to make weaponry, you need cheap silver," Schectman asserted.
Global Accumulation and Strategic Stockpiles
Schectman pointed to the accumulation of silver by countries like India, China, and Russia as evidence of its strategic importance. "India, I would argue, does [understand silver's value], and that's why they've imported, I don't know, North of 800-900 million [ounces]," he said. He also highlighted China's acquisition of doré concentrate and Russia's addition of silver to its strategic stockpile.
"These are all questions that they don't need to be answered, they need to be asked," Schectman noted, urging viewers to consider the underlying motivations behind these actions. "Ockham's razor says because it's a whole hell of a lot more important than the price would lend one to believe."
The "Largest Concentrated Short Position"
Schectman pointed to the "largest concentrated short position" in silver held by a handful of Western banks as further evidence of manipulation. He also raised concerns about the alleged "90-plus percent naked" shorting in the LBMA silver market. "I guarantee you those same eight banks have been doing the same thing in the LBMA," he claimed.
He argued that the manipulation is not solely for financial gain, but also to serve the interests of the military-industrial complex. "Maybe the bullion banks that mess with it figure, well, we're being told to do this, so but we can make some money at the same time," Schectman speculated. "But more so because the military-industrial complex has been running this country."
BlackRock's Influence and Ukraine Reconstruction
Schectman also raised concerns about BlackRock's growing influence in the precious metals market and its involvement in the reconstruction of Ukraine. "Who do you think is now the primary custodian of SLV and GLD along with JP Morgan? Oh, that's BlackRock," he said. "And who do you think got all the contracts to rebuild the Ukraine where all the money will be made? Well, guess what, that's BlackRock."
He argued that these "massive behemoth institutions have crossed the line from, you know, being a corporate entity into, you know, becoming more government than anything else."
A "Glorious Spectacular Fashion"
Despite the alleged manipulation, Schectman remains optimistic about the future of silver. "It will happen, it will happen in a glorious spectacular fashion," he predicted. "It will test your patience, but when it snaps, it will snap in a way that you finally will understand why you had such strong fingertips that your intuition led you in the right direction."
He acknowledged the frustration of silver investors, but reiterated his belief that the metal will eventually catch up to and surpass gold in percentage gains. "The final chapter hasn't been written on silver yet," he concluded.
Weekly Specials and Market Insights
Schectman also discussed Miles Franklin's weekly specials, highlighting the value proposition of junk silver and other silver products. He noted rising premiums and dwindling availability, suggesting a shift in market dynamics. "Junk silver is the place to be. It's the most undervalued silver asset or silver product," he advised.
He also made mention of the remaining numismatic coins, and how the value has changed. “The numismatic ship it from the once in a career value has kind of sailed. There's a few hundred of those BU and AU of Liberties left for those who hear this and want to jump on it.”
Schectman’s claims, while not independently verified, provide a compelling narrative for those concerned about market manipulation and the influence of powerful institutions. His insights into the global accumulation of silver and the alleged role of the military-industrial complex offer a unique perspective on the forces shaping the precious metals market.
Watch the full interview:
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