Mark O’Byrne: Silver Should be 10x Higher
Tom welcomes Mark O’Byrne, Research Director and founder of GoldCore, back to the show. GoldCore is a Bullion dealer based out of Ireland.
Mark discusses the overall world economy and how China is evolving in manufacturing and a stronger currency. There is a lot of tension between China and the United States. Gold could become a tool of nations in this economic struggle. A lot of gold the Chinese have acquired, and mined has not been declared to the world.
There is a lot of electronic manipulation of precious metal markets, and banks have been prosecuted over the years. There is concern about dollar assets if gold is rising, so U.S. authorities have a high interest in suppressing the gold price. There are conspiracies all the time, and banks often conspire to make profits. Ultimately the free market decides the cost of everything along with supply and demand.
The silver-gold ratio will revert to the mean soon, perhaps 30 to 1 or better. Having a substantial allocation of gold and silver in your portfolio makes sense. It will only take a tiny trickle of the hundreds of trillions in world assets to shift direction to have a dramatic effect on precious metal prices.
Time Stamp References:
1:05 – Currency and trade wars.
7:00 – Paper and electronic manipulation.
14:00 – Platinum, palladium and silver.
18:30 – Silver as an industrial and monetary metal.
23:00 – Warren Buffet and talking your book
23:45 – The real value of gold.
Talking Points From This Episode
- The world economy, currencies, and China
- Electronic manipulation of precious metals.
- Platinum metals and risk.
- Expectations for silver and the gold-silver ratio
Mark O’Byrne is Director and a founder of GoldCore, which began in 2003. He is a staunch believer that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
He has been an Executive Director in GoldCore since its foundation, and today is the Marketing and Research Director.
Mark has a B.A. in History and Greek and Roman Civilization from University College Dublin, and this gives me an insight and a prism with which to view today’s turbulent world. He is a regular contributor to media internationally and takes part in the Reuters, CNBC, and Bloomberg gold and precious metal surveys. GoldCore is now an acknowledged expert on precious metals, and their research is respected as informative and enlightening.
Twitter: @Goldcore @marktobyrne