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Metal Money
Silver, unlike gold, is more of an industrial metal used in a wide array of applications, including photography, dentistry and electronics. Its performance is more tied to the global economic cycle than gold and therefore is not to be confused as a pure hedge against monetary chaos or financial turmoil.
Though silver will almost always follow gold, I still prefer the yellow metal as a better store of value. Earlier this month the Indian central bank purchased 200 tons of gold from the IMF; no central bank, however, has amassed silver this decade.
My target for gold remains about $2,500 an ounce in this bull market and about $75 an ounce for silver. If that's remotely correct then silver can gain another 300% from current levels compared to 118% for gold. If silver reaches its approximate 1980 inflation-adjusted equivalent then prices can surge another 575% from current levels.
I began making these forecasts on gold and silver seven years ago at various seminars for The Sovereign Society. At the time, investors would look at me wondering what planet I came from. Not anymore.
When?
Bull markets are like a rubber band. The primary trend is always exaggerated much longer than we can anticipate. And in the age of violent capital markets, aggressive central bank printing and the prospect of higher inflation over the next several years it's no wonder investors and even central banks are accumulating gold. Smart people increasingly distrust paper money.
What will kill this bull market?
The only event that's likely to derail gold and silver is higher U.S. and European interest rates. Until the opportunity cost of holding gold and silver are compromised by higher paper money rates of interest, this bull market will run its course. And fortunately for the bulls, the Fed won't be in any position to aggressively hike lending rates any time soon because credit intermediation remains badly fractured while bank balance sheets are still in repair mode.
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Prepare for the Great Depression.
Survival Seeds
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ReplyDeleteWithout a doubt. But most cannot wrap their heads around it. They'd rather finance a car and showboat or buy a big screen TV. Worse yet, they'd rather have cash in a bank.
ReplyDeleteAh yes, the smell of cash, tantalizing and tittelating.....mmmmmmmmmmm, back to sleep my sheeple, fiat is all you need.
ReplyDeleteIt's no accident that cash smells the way it does, even more new. Research shows that the paper used hits many more of the olfactory nerves than any other paper there is.
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