It means panic buying. From 15 to 26 in 2.5 months!
Inflation adjusted high is 149 in 1981. It was 30+ for most of 2010-2012. It could go a lot higher.
It is hard to value. It can be mined in Mexico for $5/oz, but those mines are in terminal decline and new mines are $18 and up. Solar panel makers will pay $100/oz if they have to, but will also invest R&D to find cheaper alternatives. X-ray film uses a lot of silver, but if it gets too high poorer countries especially will switch to digital. And private investors treat silver as a Giffen good, they want more as the price rises in violation of the axiomatic law of demand.
Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.
A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.
A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.
I don’t believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn’t there.
The psychology of numvers intrigues me. Why are we drawn to 2000? Why is it a destination. Why not 2026? It feels like numerology or phrenology. Dow 30000. Etc. The number has no intrinsic meaning
[quote=gzz]Having all of your liquid net worth in paper and electrons during a plague and depression is scary. And despite the stock and RE markets doing fine, 12% unemployment and 35% YoY GDP decline is a deep depression.
A paper dollar from 1921 is worth maybe $2 if you can find someone who collects them, but more realistically just $1.
A silver dollar from 1921 is worth $20 in poor condition, $30 if in perfect shape.
I don’t believe the conspiracy theory that SLV/GLD is a scam without actual silver/GLD backing it. But after Enron, Wirecard, Worldcom, AIG, etc., there certainly is some risk the metal isn’t there.[/quote]
Im a contrarian dope, but not very far off the plantation. I dont believe in the system, but i believe in electrons. And sec filings, and various trusts and pledges and so forth. Inconsistent gadfly
“ But i dont believ e there is any physical reality.
I firmly believe we are living in a computer simulation run on alien computers.”
The first part is right, reality is mental (subjective idealism). See the work of George Berkeley for details. The second part is wrong. We exist as ideas in the minds of ourselves, others, and of God.
