Based on the supply and demand situation of silver, it's only a question of time when a silver shortage will come. Nobody can predict exactly when this is going to happen, but we have more and more signs that those who control the price of silver are sweating to balance the supply.
The biggest question I have is, will the shorts be successful to cover their short position on time?
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So I will give you my calculation. It will be a gradual explosion of prices and slowly the users and the new investors will eat up the world visible silver, which today is around 500 million ounces. In my calculation the first 100 million ounces of visible silver will disappear at a price of $60 to $100 an ounce. The second 100 million ounces will disappear by $250, and the third 100 million ounces will disappear between $250 and the price of gold ounce for ounce.
We will be left with 200 million ounces of silver which the owners will be not taking profits on at any price. The bullion in private hands I calculate will be the first to take profits...
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I thought this blog gave only bad economic news. If price of silver is going up, that means speculation that demand will increase soon, and if it increases, that means the economy is recovering.....
ReplyDeleteI would say after food, water, bullets and other essentials - once you have all you need to survive on your own for a minimum of six months - then buy some silver.
ReplyDeleteAny .999 coins you buy below $20 is a great buy as a hedge against the dollar fall. When the dollar crashes and burns, and it must, then silver prices will skyrocket.
The Oligarch bankers really don't want you to have any vehicle to preserve any wealth. They want it all. However, they just cannot destroy our Fiat currency without PMs going ballistic. There is no way for them to stop it even if they own most of the silver and gold themselves.
That is their paradox.
However, since only 2% of Americans own any Gold coins or bullion (as an example) they are willing to allow that minority to squeak by. All holders of dollars as their primary savings will be wiped out in days, possibly hours once the time has come.
Right NOW. Do something.
NO 11:57, the recession is NOT over because silver and gold prices are going up. Those of us who have followed this situation, and have invested in silver and gold, fully expect the prices to go up almost astronomically, once the dollar collapses. I expect the collapse to come very soon, this year, and best case scenario will be 12/2010.
ReplyDeleteSo to the contrary 11:57, the beginning of the DEPRESSION will bring much higher prices for gold and silver (NOT THE OPPOSITE).
I have invested all my funds in gold and silver, buying silver rounds or bars whenever I have a few extra bucks. Probably half of the silver I own I purchased around $10 an ounce. Its nice to know my investments are going up, however, my number one reason was to have something of value once the dollar collapses which will be followed by a total economic collapse, probably worldwide, watch gold and silver prices skyrocket!
While most of my friends and relatives watch their stocks and cash disappear!
I hear many folks say that one day, someone who holds just 100 ounces of Ag will be considered wealthy at that time becuase those that hold none will pay dearly to get some. Not saying it will make you rich, but a no brainer IMO to preserve some wealth. There will be many great deals on things when the common folk begin to barter a $15000 boat or car for some silver since it will be recognized as money, and not the fake fiat crap that nobody will want to handle
ReplyDeleteI own silver and gold but I don't care about it making me wealthly. Just don't want to see my savings go up in smoke, don't want to starve, don't want to be like a current Chinese slave worker but here in the good old USSA.
ReplyDeleteAgreed, one should buy Silver and Gold these days as simply a store of wealth. Unless you're already filthy rich, I don't think you an afford to buy & sell in this kind of environment. You simply need to build and preserve what you have. Your future and your life may depend on it.
ReplyDeleteMany anticipate a imminant collapse of US currency. That may not happen in the near future. However, I think that silver and platinum group metals may see more gains in the near future. They are needed in electronics, computers, and platinum group metals in
ReplyDeletecatalytic convertors, bar codes and other products. The rise of the economies of asia will fuel demand. The diminishing stores of silver and the already tight supplies of platinum group metals are likely to drive prices up even if the dollar does not weaken furthur. I am less bullish on gold because it's primary use is jewelry which is recycled at near 100% efficiency. Silver and platinum group metals have a much higher amount of loss in non-recycled products. Also the amount mined yearly of both platinum and palladium combined is about 17% of the amount of gold mined yearly.