When I was younger, and much more inexperienced in the ways of life, I used to make outlandish claims like you. Fortunately, you have many years ahead of yourself to let your ideas mature. However, being the indulging type, could you explain the rationale of your 20 years time frame?
Someone with a $30 average price actually bought most if not all their silver at in the $20's since we Australian's pay high premiums unlike you guys in the US. Considering Silver has spent a lot of time in the $30's and $40's an average price of $30 isn't bad.
I said my average cost is UNDER $30 an ounce. so not really. yes I did buy some bullion over $30 but it was only a couple of oz most of my stack was bought in the mid 20's hence the AVERAGE at under $30 an ounce so you shouldnt really comment on things you know nothing about Im pissed of at idiots saying back the truck up as its going to da moon when it is clearly not the case
it is a gut feeling based on the data available currently from my researching. It historically has averaged around a set price point, and did this for man many years, I believe we are headding into another such period of side ways movement as it has been pulling back for the last 2 years. I think we are close to the bottom now where it will stay as the miners can still dig the stuff out of the gournd and make a profit and here at this price point and it will stay ere for a long time. I dont believe we are headding to a hyper inflation scenario and that the USA wont default on their debts ( in my life time ) even though they are printing money all the major economies are printing money along with them.
With 3.5% inflation, in 20 years the price of everything will have doubled. If silver is worth $20 now that means it will be $40 in 20 years. Of course the worlds population will have at least doubled too in 20 years so world demand/usage for silver should have at least doubled too. I cannot see why silver would be down to $35 in 20 years.
In 20 years, it will be ~$100 an ounce. Easy. 13 Billion people in the world, inflation, etc. He's mad, and clearly emotional...nobody, anywhere, holds the same sentiment based on "his research." It's ok to be pissed...but, to say it won't be where it was even last year, for 20 more years...with increased demand and a dwindling supply is just assanine.
Silver was around $10 USD in 1985 in 2005 it was still around $10 USD With inflation taken into account it was not a good investment Even before that it has sat hovering around the same price points for 20+ years
It has happened in the last do you think the silver supply rose and the world population decreased between the years of 1985 and 2005
4 billion people in 1985, no cell phones, ipads. 7.5 billion people today, billions of cell phones, ipads. finite resource + dwindling supply + increasing DAILY demand to da moon!
It was increasing in daly demand in each day between 1985 and 2005 and there were pleanty of cell phones around by 2000 let alone 2005 and an explosion in population as well and still the price of silver went no where. we had a spike because of the gfc / monetary crists and now it is settleing back down to historical levels where it should be priced with inflations and it will be back here for the long haul unless something drastic happens in the world.
Interesting response, and one that I thank you for. I however, do not concur with your opine and it may be timely to consider renovating your thoughts.
Why do you even hold any Silver if you think this way? If your so sure wouldn't you sell it all or if you prefer i use the term "Unload the truck"
Unload the truck I like that I am going to steal it for future use. It is simple I dont need to sell it, so I wont. If I sold everything I would capatalise my losses which I dont want to do. I have quite a few numi / semi numi pieces so I am hoping the premiums increase which will turn a profit for me. I am purchasing still but more numi stuff I am gambaling on the premiums here not the underlying price of the metail which I view only as a stop loss.
I am pretty sure all of us understand the fundamentals and WHY it should be to da moon, however it is not acting like normal and this is not normal times. I for one cannot decide if it is going to go up or if it is going to hold or drop, in the next week let alone 20 years. In saying that I still have 80% of everything I bought and I will still buy more, but certainly will not be backing up the truck little bit here little bit there. Good luck to all in whatever way it goes...
Yeah right... That's exactly what JP morgan wants people to believe. You are not taking into consideration alot of variables. And there is a very real chance of a force-majeure on silver happening this summer. All it takes is for COMEX to default and silver will be heading for the moon.
