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Dr. Scott Craig: Silver Market Manipulation

Tom welcomes a new guest Dr. Scott Craig to the show to discuss sound money. Dr. Craig is a professional historian and author. He studies monetary history, government imperialism and educates others through his website “The Silver Independent.” He says, “There is a lot that can be learned from monetary history and the actions governments take to solve these problems.”

Sound money like gold and silver is no longer taught in school; instead, the focus is on the existing fiat standard. In the history of money, paper currency is the anomaly, and when people understand how these systems work, they will be able to protect their wealth.

Scott discusses JP Morgan’s recent billion-dollar fine over silver market manipulation and why it is a tiny slap on the wrist for them. These fines have no real impact on banks, but people are becoming more aware of these institutions’ manipulation.

The gold to silver ratio is a fascinating historical metric that is useful in assessing silver’s value. The historic mean has been around 1:15, but over the past 150 years, it has become further decoupled from gold. Extreme ratios in silver can point to severe imbalances in the markets.

We’re living in a very delicate period where there is a lot of uncertainty and chaos worldwide. This uncertainty bodes well for gold and silver. He discusses the potential for additional stimulus programs and the potential for universal basic income. These types of policies can only be bullish for hard assets.

Time Stamp References:
1:00 – Studying currencies and the long-term perspective.
2:00 – Understanding sound money.
5:15 – Alexander Del Mar on silver and bubbles.
8:30 – Repeating the same mistakes.
10:00 – JP Morgan and silver manipulation.
12:10 – Spoofing and naked shorting.
13:00 – Gold vs silver and value.
15:30 – Elections and metals markets.
16:35 – Stimulus and asset protection.
18:35 – His website’s purpose.

Talking Points From This Episode

  • Educating others about sound money.
  • Measuring silvers value compared to gold.
  • Uncertainty globally and further stimulus.

Dr. Scott Craig is a professional historian and author of Bonds of Empire: The Politics of Penal Colonies in the Founding of America and Australia. His analysis of imperialism led him to see the quality of money as one of the most critical factors in sustaining empires, nations, and societies. After spending years studying the history of precious metals, he created The Silver Independent to educate others about the importance of sound money in protecting from inflationary forces, which tend to present themselves at the end of fiat paper monetary systems.

Guest Links:

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