Andy Schectman: There is NO Investment Like Silver
Tom welcomes Andy Schectman of Miles Franklin back to the show. Andy discusses the incredible demand for bullion and broadening mainstream adoption. Metals are beginning to make up a small but increasing percentage of investor portfolios. He describes the metals markets as unlike anything he has seen in the past thirty years in his industry.
He explains how there are six well-funded primary distributors in North America. These distributors have contracts with all the major sovereign mints and refineries. All of the mints are struggling with production, leading to increased risk; therefore, the entire supply chain is raising premiums.
The Reddit movement has renewed his optimism regarding hope for precious metals and the eventual exposing of the banking system’s activities.
There are also six primary mints, the US, Canada, Austria, Australia, South Africa, and the United Kingdom. Mexico has recently curtailed most production. All of these Mints are inefficient, and most are reporting production issues. He discusses how both Canada and the US Mint have reduced availability and rationing to dealers.
He recommends investors get out of unallocated synthetic products like Kitco, Perth Mint, and ETFs SLV and GLD. There is an awful lot of smoke at Perth and Kitco, and where there is smoke, there is likely fire.
The Comex will change the rules to avoid default, and this is why steady adoption of metals is the best approach. When there is little supply left, it has to spill over into the Comex markets. If everyone takes two ounces, soon, there will be nothing left.
Andy discusses the upcoming Basel III reclassification of gold into a Tier One classification and how globally we see massive repatriation of gold. Seventy percent of the world’s population are rapidly moving away from the dollar and becoming part of China’s One Belt One Road enormous infrastructure project.
Andy feels the platinum to gold ratio is almost as compelling as silver, although it lacks the rich monetary history of silver and gold. He believes that “Silver is the pathway to getting more gold and platinum.”
Trust your gut, buy the dips, consider metals as generational wealth, and don’t focus too much on the manipulated price.
Time Stamp References:
0:00 – Introduction
0:37 – Demand for Bullion
6:00 – Premiums & Supply Chain
13:12 – No Secondary Supply
17:29 – Differences in Mints
27:22 – Reddit – WallStreetSilver
41:04 – Manipulation
47:23 – Basel III Regulations
53:30 – One Belt One Road
57:13 – Platinum Thoughts
1:02:38 – Trust Your Gut
1:04:40 – Wrap Up
Talking Points From This Episode
- Bullion Demand and Mint Supply
- Primary North American Distributors
- Steady Buying will Overcome price
- Banking Gold Repatriation and Basel III
Andrew (“Andy”) Schectman has been a prominent figure in the financial services industry for more than 25 years, during which he has served as President and owner of Miles Franklin, Precious Metals. Before starting Miles Franklin, Ltd. in 1989, Andrew became a Licensed Financial Planner, specializing in Swiss Franc Investments and alternative investments. At Miles Franklin Ltd., a company that has recently eclipsed $5 billion in sales, Andrew has developed an operation that maintains trust, collaboration, ethical behavior, superior customer service, and satisfaction to serve their clients better. He is responsible for overseeing the firm’s operations and business functions, including strategic planning, account management, finance, and new business. Andrew has distinguished himself as a successful entrepreneur, a foremost expert on the precious metals industry, and a reputable speaker on economics, global investing, and foreign currencies.