Actual Silver Price and Possible Paradigm Price Shift 

Click graph to access the source article by Steve St. Angelo

Today – August 14th 2014 something will happen that has not occurred since 1897. The daily silver fix price will stop.  “On a long term basis, we believe today’s silver and gold bullion prices are an extreme value.  This is why we continue to buy and hold for the long haul.  We encourage you to do the same while silver and gold prices hover near 3-year price lows.”

As Mike Maloney’s Knowledge Centre explains further:

“Who uses the Silver Fix?

The Silver Fix is used to set spot prices worldwide. It affects for example the price that miners change for silver, or the price of industrial silver used in electronics, jewellery etc. (Plus solar panels, medical applications, RFID chips.)

The fix is also used to price paper derivatives tied to silver, such as exchange-traded funds (ETF’s).

What does this mean for Silver buyers and sellers? 

Unless a new system is created, buyers and sellers will either need to price their deals on the moving silver spot price or use another daily benchmark such as the silver futures closing price on the U.S. Comex exchange.

Will the Gold Price fixes (both AM & PM) be ending next?

The end of the silver fix brings into question the future of the other precious metals benchmark fixes – especially gold.

The gold fix continues to be operated by four member banks regardless of its process being old-fashioned and opaque. The London Gold Fix’s days are most likely numbered. The statistical evidence of price collusion is all too obvious.”  To read the full article from Mike Maloney’s website click here.

As Eric Sprott of Sprott Money.com concludes it is “history in the making“.

“For decades, those in the precious metals community have cried out about the rampant manipulation that affects not only gold and silver but the commodities markets in general. Until recently, if you were part of this small but growing collective, you would have been called a conspiracy theorist or told to don your “tin hat” if you raised this subject.  Now this is no longer the case.

Not only has the movement grown over the years, but thanks to the hard work of GATA, Ted Butler and many others in the precious metals community, the issue has gone mainstream.

This comes as a serious blow to the manipulators. I am sure they are scrambling on all fours to find a solution.  For the time being, those of us who desire to see the true price of silver set free can rejoice in this huge victory.

Will we see a $250 per oz silver spot price as a result of this?  Likely not, as a solution to the London fix will be found by the manipulators, but undoubtedly it is a step in the right direction and a much needed victory for precious metal bulls.”