Our favorite bankster shill Jeffrey Christian, who boldly told CNBC in January that gold and silver had seen their highs for 2012 (it took all of 2 weeks for that call to be proven wrong), has rather inadvertently made a rather strong case for $359/oz silver while attempting to bash gold again.
Never expected to see the day when Jeffrey Christian made a rational case for a 4.6:1 silver/gold ratio.
from Bix Weir, Road to Roota:
The latest release from the Banking Cabal’s more than bizarre egomaniacal mouthpiece, Jeffrey Christian of CPM Group, inadvertently makes a rather strong case for $359/oz silver while trying to trash gold. I’m sure that it was not his intention to promote silver as his release was clearly designed to pour cold water on any hopes for gold to take off but true to form – he put his foot in his mouth again!
5 Billion Ounces of Gold… His main argument in this article is that there is an astounding amount of gold out there available for sale. He tries to back this up by showing us how his historical numbers are derived. This is the first time I’ve heard him tell the world where his historical gold numbers come from and I find it fascinating that the origins come from the 1960′s estimates commissioned by Harry Oppenheimer.
I’ll save that analysis for another day but what I find most interesting in the CPM report is that in their burning desire to trash the gold psyche they state…
“On 17 May CPM Group will release its Silver Yearbook 2012. In that report we will show that cumulative world silver production is estimated to have surpassed 50 billion ounces in 2011, ten times as much as gold. In stark contrast to gold, about 46% of the silver mined throughout history is estimated to be lost or undetermined in its location. People will lose silver, or use in it an industrial or household application from which it does not get recovered(e.g. mirrors). People tend not to lose gold.
So if we are to believe Christian when he claims that there is 23B ounces of silver above ground (50B x 46%) and 5B ounces of gold above ground then the silver-gold price ratio should be 4.6-to-1 rather than the 53-to-1 current price ratio.
With gold currently trading at $1,650 isn’t Christian making a case that silver is MASSIVELY UNDERVALUED at $31/oz? According to his own data, available above ground silver should be trading at a ratio of 4.6-1 of the fair market value of gold or $359/oz.
Maybe he’d like to have a “DO-OVER” of last year’s Silver Manipulation debate!
Of course we know there is not even close to 23B ounce of silver available but you get the idea. Silver, even according to the Banking Cabal’s mouthpiece Jeffery Christian, is MASSIVELY UNDERVALUED!
Load up while you still can. May the Road you choose be the Right Road.