Diamond Lifetime
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What you are failing to take into account is physical silver is no longer relevant in the market. The physical market is extremely small, something like a hundred billion dollars would buy all the silver in the world. The market price is set by comex futures contracts, which can be sold "naked" or without the metal ever being delivered. There are at least a 100 times as many paper contracts sold each day as could actually be produced in physical metal. That is how the price is set and it has nothing to do with supply and demand.
Back when the Hunt Brothers made there run it was a different world, they where buying real metal not paper contracts.
Currently JP Morgan has more actual silver than the Hunt brothers controlled when they "cornered" the market.
Gold and silver will remain unimportant and silly, until they dont. At some point there will be an awakening/understanding that the paper currency in your pocket is backed by nothing but trust in our government and the ability for said government to make good on its debts. The government will never make good on the national debt, It probably wont default, it will just inflate away the debt till the dollars required to pay it back are worthless.... Or devalue the dollar so it only takes a 1/4" as many new dollars to pay it back.
In my lifetime (the next 40 years or so) There will be a dollar crisis, its a mathematical certainty. Even the Government accountability office says our current path is unsustainable.
I think at that point, even though it might be decades away, it wont matter if you paid $5 or $50 an ounce for your silver.
Really though what it comes down for to me is owning "something" Sliver and gold have had value since man started making things. I dont want numbers on a screen. To me owning a pile of silver and gold is the goal, it has nothing to do with how many dollars I could trade them for (at least currently) because I have no intention of trading any of it for dollars. The whole reason to buy the stuff is to get out of make believe paper currency.
Have you ever noticed that the new FED notes match monopoly money colors exactly? Do you think this is a coincidence? I dont, they are thumbing there nose at you. They know when it gets right down to it they are both worth the same..
Back when the Hunt Brothers made there run it was a different world, they where buying real metal not paper contracts.
Currently JP Morgan has more actual silver than the Hunt brothers controlled when they "cornered" the market.
Gold and silver will remain unimportant and silly, until they dont. At some point there will be an awakening/understanding that the paper currency in your pocket is backed by nothing but trust in our government and the ability for said government to make good on its debts. The government will never make good on the national debt, It probably wont default, it will just inflate away the debt till the dollars required to pay it back are worthless.... Or devalue the dollar so it only takes a 1/4" as many new dollars to pay it back.
In my lifetime (the next 40 years or so) There will be a dollar crisis, its a mathematical certainty. Even the Government accountability office says our current path is unsustainable.
I think at that point, even though it might be decades away, it wont matter if you paid $5 or $50 an ounce for your silver.
Really though what it comes down for to me is owning "something" Sliver and gold have had value since man started making things. I dont want numbers on a screen. To me owning a pile of silver and gold is the goal, it has nothing to do with how many dollars I could trade them for (at least currently) because I have no intention of trading any of it for dollars. The whole reason to buy the stuff is to get out of make believe paper currency.
Have you ever noticed that the new FED notes match monopoly money colors exactly? Do you think this is a coincidence? I dont, they are thumbing there nose at you. They know when it gets right down to it they are both worth the same..
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