"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
talk about crackpot analysts - here's 600yrs in 1998 fiat USD value....
As we can see Silver hit a high of round $800oz but as new discoveries with the help of new tech in mining/production the value of silver went into a very long bear trend down in value till very recent where we see a solid bottom an a move towards the start of a bull market on the back modern man demand for tech some 10,000 applications, an growing investment demand of investment seeing the clear failings of fiat.
Last edited by JBmurc; 16-10-2011 at 04:35 PM.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Worried About Silver? Listen to Eric Sprott’s Stump Speech
by JOHN RUBINO on OCTOBER 21, 2011
Hedge fund manager Eric Sprott’s speech at this week’s Silver Summit turned a room full of nervous precious metals owners into pumped-up silver buyers. Some of the highlights are posted below, and here’s a link to a recent Financial Sense interview where he makes many of the same points.
The US Mint sells about the same dollar amount of gold and silver coins, which means it sells 50 ounces of silver for every ounce of gold. It’s more or less the same story at GoldMoney and Sprott Money.
Ten times more silver than gold is produced each year, and the ratio in the earth’s crust is 15:1, so how can the price be 50:1? Expect a return to the historical norm of 15:1, which implies that silver will outperform gold.
The demand/supply picture has seen a 380 million ounce per year positive swing — in a 900 million ounce market. Where is the silver coming from?
The paper silver markets trade a billion ounces a day and the world only produces 900 million in a year. The amount available for settlement of these futures contracts is something like 1.5 million ounces, ludicrously little compared to the amount of paper.
“On the physical side I’m seeing only buyers.”
“There are a lot more people who can afford a one-ounce silver coin than an ounce of gold.”
Gold will be a reserve currency and silver will also play a role.
“We tried to buy 15 million ounces of silver and had to wait three months — and some of the silver we got was manufactured after we ordered. So there’s not a lot of silver sitting on shelves waiting for people to buy it.”
“Somewhere along the line some manufacturer will say ‘I can’t get the silver I want’ and the jig’s up.”
People will prefer gold and silver to having money in a bank where there’s tremendous counterparty risk. Three months ago Dexia was considered to be the best capitalized European bank and now they’ve been nationalized.
“You go to some of the biggest names who own gold and ask them about silver and a lot of them haven’t even looked at it.”
Central banks are selling gold surreptitiously.
“It’s shocking how undervalued the junior miners are…Gold and silver stocks are growth stocks. They all have a plan to increase production dramatically. Small miners can start a new mine and double in size…The relative value of gold stocks will become apparent with time…The breakout, when it comes, will be very sudden.
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
Worried About Silver? Listen to Eric Sprott’s Stump Speech
by JOHN RUBINO on OCTOBER 21, 2011
Hedge fund manager Eric Sprott’s speech at this week’s Silver Summit turned a room full of nervous precious metals owners into pumped-up silver buyers. Some of the highlights are posted below, and here’s a link to a recent Financial Sense interview where he makes many of the same points.
Gold will be a reserve currency and silver will also play a role.
Hahaha, yeah, pull the other one.
Sprott says silver could go to $1200 an ounce this decade. The guy's a few cards short of a deck, if you believe that you'll believe anything, but goldbugs do. They believe in the Phillipine gold, Fort Knox is empty, we're running out of silver, the Illuminati and The New World Order.
$1700 x 1200 = $2,040,000. You're gonna be super-duper rich JB. LOL
$26.70oz USD kitco is the set price for a new 2011 bet I have with SKOL the prize a round about $100 bottle of wine of the losers choosing(skol a reds fine by me)
Will the Silver price crash back to the teens by the end of 2011
IMHO no Silver will be much higher my prediction over $40oz USD
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
What a larf, in the last few hours the silver price has plunged, or maybe I could use the word 'crashed' $3.
Keep posting JB, maybe it'll go down some more. LOL
has done before no big deal... overall how much of the year has been over 26.70 .. crashing LOL wasn't that may years ago silver was forced down under $10 ...200% return since then unlikely to go back on demand
"With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu
has done before no big deal... overall how much of the year has been over 26.70 .. crashing LOL wasn't that may years ago silver was forced down under $10 ...200% return since then unlikely to go back on demand
In the last few hours your 1700 oz pile of silver has plunged about US$5100. Ouch, does it hurt?
Reply With Quote
Originally Posted by Skol
$10 silver LOL
Bookmarks