The Daily Bell released an interview with legendary commodities investor Jim Rogers this week, and asked Rogers specifically regarding his thoughts on silver and whether the metal was manipulated.
Rogers responded that while he personally owns silver and believes silver is going to go much higher, he doesn’t buy into the theory that silver is being manipulated, stating that he is skeptical and that ‘by now, somebody would have told us‘.
When asked by the Daily Bell whether silver is manipulated and ultimately whether the manipulation matters to silver Rogers stated:
A) It doesn’t matter and B) I don’t think it is. There are conspiracy theorists out there who say it’s manipulated but I don’t buy it. Mainly, I don’t buy it because if it were manipulated like the conspiracy theorists say, it’s been going on for 25 or 30 years. By now somebody would have told us. You can’t keep a secret like that because then the conspirers would have to be all over the world. There would have to be tens of thousands of people. By now we would know about it. I’m a little skeptical.
It doesn’t matter, as far as I’m concerned. Silver is going to go much higher. I own silver and if there’s somebody trying to artificially suppress it, more power to them because in the end it’s going to go up even higher. Whenever you artificially suppress something, once it finally breaks free, boy, does it skyrocket. Look at gold in the ’70s. They artificially kept it down at $35 for a few decades. Finally the market said enough and it went up over 40 times.
While we disagree with Rogers’ conclusion that silver is not manipulated because someone would have told him (in fact, as Chris Powell stated, there are no free markets anymore Mr. Rogers, just interventions), we agree that ultimately, the manipulation simply doesn’t matter, and will serve to propel silver prices MUCH HIGHER than they would have gone without the artificial price suppression.