Mint CEO Reveals Private Jets Flying Silver to London Amid Historic Supply Squeeze

Gold above $4,200. Silver past $53. But according to Scottsdale Mint CEO Josh Phair, this is only the beginning of a global metals revaluation that could reshape finance, energy, and geopolitics. Speaking with Kitco News Anchor Jeremy Szafron, Phair reveals why he believes we’re entering what he calls a “metal war” — and why whoever controls the metal will control the future.

Phair introduces the Phair–Sinclair Ratio, a modern evolution of legendary trader Jim Sinclair’s gold model, linking U.S. foreign debt to its gold reserves. He notes that ratio has hit 30,000 twice before in modern history—and could easily do so again, implying a massive revaluation of gold is already underway.

The physical market tells the same story. Refineries are backlogged four to six months, lease rates have surged to 85%, and silver is being flown across the Atlantic to fill supply gaps. “You’ve got one price for Dubai and Shanghai, another for London and New York,” Phair says, describing a split global system—“two worlds, think Axis and Allies.”

With nations repatriating gold and rebuilding vaults outside the Western network, Phair warns this bifurcation marks the start of a new monetary order where hard assets—not debt—define power.

This is a must-watch interview for anyone tracking gold, silver, energy, AI, and the global shift in financial sovereignty.

(Recorded October 16, 2025)

Follow Jeremy Szafron on X: @JeremySzafron (https://twitter.com/JeremySzafron)
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Follow Josh Phair on X: @JoshPhilipPhair (https://twitter.com/JoshPhilipPhair)

01:09 - Precious Metals Insights
01:58 - Global Metal Flows and Economic Implications
03:49 - Impact of Tariffs and Trade Policies
08:29 - Retail and Institutional Demand for Precious Metals
16:16 - Supply Chain Challenges and Refining Bottlenecks
19:58 - Global Trade Dynamics and Tariff Risks
20:38 - Impact of Backlog on Miners
21:31 - Merchant Banking and Metal Trade
21:56 - Retail Level Supply Shock
23:10 - Comex and Metal Stockpiles
24:56 - BRICS and Gold Trade Strategies
29:26 - China's Role in Metal Wars
31:53 - Future of Gold Prices and Market Volatility

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