VIDEO — Andy Schectman: Big Money Draining Exchanges of Gold, Silver

The largest global financial players understand that gold and silver are wealth, and Andy Schectman, president of Miles Franklin, believes that individual investors need to pay attention to what these major entities are doing.

Speaking to the Investing News Network, he explained that physical metal is being withdrawn by these large players, not just from the London Bullion Market Association and the COMEX, but also from silver exchange-traded funds.

"It's called share redemption, where very, very wealthy people who have large, large amounts called baskets — of SLV as an example, or GLD — can actually redeem the shares for metal," he said, explaining that this is not easy to do.

"I guess what I'm saying is that all of these deliveries off the exchanges is creating to me a story that the biggest money in the world is taking possession of metal, and they don't care about price because they see what is coming," he said.

Schectman admitted that it's difficult to pinpoint exactly when the situation may come to a head, but said he would rather be much too early than 60 seconds too late. "I think we've been living on borrowed time for quite some time," he noted.

In his view, that means there are more reasons than ever to have exposure to gold and silver.

"Do what the biggest money in the world is doing," Schectman said when asked what tactics investors should use right now. "De-dollarize, mitigate your exposure to the dollar. Get out of debt and own precious metals as wealth to whatever capacity you can."

Watch the interview above for more of his thoughts on gold, silver and more. You can also click here for the Investing News Network's full Vancouver Resource Investment Conference playlist on YouTube.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.