John Manfreda and Jason Burack of Wall St for Main St had on precious metal experts David Morgan and Chris Marchese of The Morgan Report http://www.silver-investor.com/ to talk about their new book, Silver Manifesto.
During this 40+ minute discussion, John asks David Morgan and Chris Marchese about the turnout for this year's Silver Summit conference on silver.
Chris and David say only "true believers" and die-hards are left buying and holding in the silver market and all the trend traders and johnny come latelys are long gone and are probably shorting silver.
Jason then asks David and Chris if the cancellation of the NY Hard Assets Conference, SF Hard Assets Conference and the re-branding of the resource dominant Cambridge House Conference are contrarian indicators a bottom is in?
David and Chris think the bottom for precious metals is close or has already occurred.
Next, John asks David and Chris about silver investment demand.
David and Chris think silver's physical investment demand is strong with evidence provided by US Mint sales and sales of silver to India and China.
Jason then asks David and Chris if industrial demand for silver has drastically fallen in 2014 given the large drop in silver price.
David and Chris think silver's industrial demand has not fallen despite the fall in silver paper prices and Chris and David expect more industrial usages to continue to increase industrial silver demand over the long term.
John asks David and Chris about their book and the macroeconomic situation and if the US economy is recovering and if the Fed will have to reverse taper. Chris and David think the Fed will reverse its taper in the near future.
To wrap up the interview, Jason, John, David and Chris talk about the problems with gold and silver miners and how miners have struggled to maintain profitability despite enormous cost cutting.
Unfortunately, Chris and David expect higher cost primary gold and silver miners with bad balance sheets to go bankrupt and their supply to come offline in 12 months or less unless metals prices start going higher quickly.
Jason asks David and Chris how much more cost cutting can be done on mines without shutting down the mines? David and Chris think miners may be able to make smaller additional cost cuts but no more big cost cuts are possible without shutting down mines which means supply problems and a big cut in production since about 25% of global silver supply is from primary silver miners and no primary silver miner is profitable.
David and Chris say that silver prices this low are unsustainable in the long term.
Please visit the Wall St for Main St website here http://www.wallstformainst.com/
Follow Jason Burack on Twitter @JasonEBurack
Follow Mo Dawoud on Twitter @m0dawoud
Follow John Manfreda on Twitter @JohnManfreda
Follow Wall St for Main St on Twitter @WallStforMainSt
SUBSCRIBE (It's FREE!) to "Finance and Liberty" for more ►http://bit.ly/Subscription-Link
FINANCE AND LIBERTY:
Like us on Facebook ►http://fb.com/FinanceAndLiberty
Follow us on Twitter ►http://twitter.com/Finance_Liberty
Google Plus ►http://Gplus.to/FinanceLiberty