Tom Bodrovics welcomes Bix Weir, and Steve St. Angelo for a lively and professional debate around metals manipulation and mining. Bix believes there is a large amount of gold in the Grand Canyon region, while Steve believes it’s uneconomic to mine both logistically and due to energy costs.

The conversation focuses on Charles Spencer and his attempts to mine gold in the area in the early 1900s, and how his efforts failed due to the fineness of the gold and the lack of a profitable return. They also discussed the New York Times article from 1912, which Steve speculated was an attempt to get more investors to invest in the mining operation even though it had been shut down.

The conversation then turned to the KISS principle, with Steve discussing the energy return on investment of oil, and how it has been steadily falling since its peak in 1970. This has caused a variety of issues, such as inflation, and Steve believes that it is more important to focus on energy than to get lost in the details of the manipulation theory.

Louis McFadden, the chairman of the Committee on Banking and Currency from 1920 to 1932, was then discussed, with Bix believing that he wanted to fix the problem of mines being uneconomical by introducing a tax of fifty percent. This was intended to give the miners a premium and encourage more gold production. Steve looked at the issue from an energy perspective, stating that the real problem is not the manipulation of the gold and silver price, but the lack of available energy and the way in which it has been siphoned away from poorer countries to the more developed nations.

The two experts then discussed gold and silver as money. Steve argues a lot of this money has been lost throughout time. Bix also spoke of the fixing of the price of gold at $20.67 in the US in 1900, which the banks knew would cause a lot of mines to fail due to the increasing costs.

Finally, Bix and Steve discussed institutional investors and their lack of understanding for investing in silver and gold, and how the US Mint is required by law to produce coins in quantities equal to demand, yet they are only producing a third of what they are capable of. They attributed this to the new Mint director, Ventress Gibson, who has never been in charge of the Mint before and is an HR professional. They believe that something bigger is going on and that the US Mint is holding back coins from the public.

They agree that gold and silver prices have been manipulated by large banks and the US government, but they disagree on the role of energy in the pricing. They also discuss the KISS principle, the energy cliff due to declining oil production, the Comex, and the US Mint’s apparent lack of increased production of silver eagles. They emphasize the importance of energy, saying that it always comes first and is the foundation of the economy and all that we do. Lastly, they agree that silver will outperform gold in the coming years.

Timestamp References:
0:00 – Introductions
4:47 – Grand Canyon Gold?
21:30 – 1900 Gold Supply
33:54 – Gold Price Fixing
36:57 – Taxes on Gold
41:18 – Counterarguments
50:00 – Gold Manipulation Chart
1:00:10 – Derivative Impacts
1:01:43 – Today’s Production Costs
1:06:05 – Supply/Demand & Price
1:09:55 – Mining & Energy Use
1:15:25 – 1980 Highs & Benchmarks
1:25:40 – High Frequency Trading
1:27:10 – Reserve Disparities
1:29:34 – Silver Eagles & Supply
1:39:12 – Energy & Fairy Tales
1:45:22 – Energy & Crypto Mining
1:46:54 – COMEX, Hedging, & ETFs
1:57:22 – Revaluation & Metals?
2:03:24 – Shale & Energy Sunset
2:06:20 – Silver Lining Wrap Up

Talking Points From This Episode

• Bix believes that there is a large amount of gold in the area near the Grand Canyon and that freely traded gold would be easier to mine.
• They discuss the EROI of oil, and how it has been steadily falling since its peak in 1970.
• They discuss the importance of holding silver while Steve stresses the importance of energy production in the future economy.
• They both agree that it is important to think for oneself and avoid the trap of dismissing any theory as a “conspiracy theory” without further research.

Guest Links:
Website: https://srsroccoreport.com/
Twitter: https://twitter.com/SRSroccoReport
YouTube: https://www.youtube.com/channel/UCED7G7CZfqdSV9zttlr1M_g

Independent researcher Steve St. Angelo (SRSrocco) started to invest in precious metals in 2002. Later on, in 2008, he began researching areas of the gold and silver market that, curiously, most of the precious metal analyst community have left unexplored. These areas include how energy and the falling EROI – Energy Returned On Invested – stand to impact the mining industry, precious metals, paper assets, and the overall economy.

Steve considers studying the impacts of EROI one of the most important aspects of his energy research. For the past several years, he has written scholarly articles on some of the top precious metals and financial websites.

You can find many of Steve’s articles on noteworthy sites, such as GoldSeek-SilverSeek, Market Oracle, Financial Sense, GoldSilver.com, SilverDoctors, TFMetals Report, Outsiderclub, SGTreport, BrotherJohnF, Hartgeld, Der-Klare-Blick, PeakProsperity, SilverStrategies, DollarCollapse, FurtureMoneyTrends, Sharpspixley, FinancialSurvivalNetwork, PMBull, Deviantinvestor, PMBug, Wealthwire, and ZeroHedge.

Guest Links:
Website: https://roadtoroota.com
Twitter: https://twitter.com/RoadtoRoota
YouTube: https://www.youtube.com/channel/UC73WeDULjX2BwsSmICJ0y0w

Bix Weir has 30 years’ experience in the financial industry with various fortune 500 companies. He is the creator of the “Road to Roota Theory” and his commentary is published at RoadtoRoota.com. Bix has dedicated his efforts over the last 15 years to exposing the long term manipulation of the gold, silver & crypto markets. He has worked closely with the Gold Anti-Trust Action Committee helping to pull the curtain away from the Cabal of International Bankers that has taken control of our free market system.

At RoadtoRoota Bix deals with the conspiracy and manipulation side of the gold, silver and financial markets and is not constrained by conventional thinking of how market prices fluctuate. Bix has developed this website to aid in the discovery of the truth behind our massively manipulated markets and to help expose those who threaten our free market system.

“May the Road you choose be the Right Road.”