Is the the new "To the MOON" thread ? I haven't been on the forum for a while Chip, and was looking for the one from years ago.
Who's gonna pay $100 / 1oz? That's the question. Silver does nothing. For a price to be somewhere, some reason for people need to be there. And what will that $100 buy then? I once bought bread at baker for 57 Belgian francs, with 1 euro in 2000 set to 40.3399 francs. A bread costs now 20 years later 2.30 euro, about double the price, since 2010 or so. House price also doubled, since 2010 or so. We have had a decade with low inflation hence low interest rates forced by the Official Club of Thieves named Government. There is now "corona", being another government story in the series of events that intend to make people find higher prices normal. I didn't, I sold the silver I purchased in 2011 at a 10% higher price. It allowed me to correct a 50% loss to a 10% loss. So paying $100? Who? It's easy to expect others, but if you wouldn't want, who else would and why? If you want to sell at $100, good luck. PS if it doesn't work out give me a yell at $14 I'm your customer for a rinse and repeat.
https://seekingalpha.com/article/4357702-silver-be-beginning-of-monster-move-higher "If silver could make a 10x run from 2003 to 2011, I believe it can make another 10x run from $11 to $110, but much faster this time, to keep pace with the expanding money supply. If silver really is in a bull market, then it should go above $50, as that was the 1980 top as well, and approach the 15:1 gold to silver ratio that is closer to historic norms." 10x run from $11 to $110 15:1 gold to silver ratio ???
When gold was $35 no one could ever imagine paying $2000. It's all relative. $100 silver wouldnt be any different. Just costs more worthless fiat that's all.
Silver does nothing? Silver has so many applications it's exhausting to list them all. Silver could easily reach triple digits in USD without "market doom" within the next 10 years. I have been extensively researching silver supply over the past 3 months and it's ALARMING. The USGS claim there is approx. 560,000 tonnes of known silver reserves in the world. If you added up all the deposits, it would be 18.5 years before the current known silver reserves are depleted at today's rate of production - But that's if you added all the known silver reserves together. Many of these deposits aren't economical to mine until silver is well over $100USD and the deposit size is so small that the mine lifespan would be laughably short for the capital expenditure required to mine the deposit(s). Look at mexico - the largest silver producing country at 23% of global mine production in 2019, with an output of 200M ozs, or 6,200 Metric tonnes. Known silver reserves in Mexico stand at 36,000 tonnes. Less than 6 years at the current rate before that's gobbled up?!? 12 of the 15 largest primary silver mines in the world are set to deplete within 4-6 years. We are set to reach peak lead and zinc by 2030, and peak copper by 2032. Plenty of evidence to support the fact we've already reached peak gold. Considering silver is mined largely as a byproduct of the above metals, it would be fair to say that a reduction in production for each will result in a reduction of production in Silver. Keep this in mind when people talk about the slowing economy being bad for silver on a consumption basis. It's all relative. Now add on an increase in investor demand, accompanied by increasing industrial demand, threats of inflation and "market Doom" - and you have one of the most exciting opportunities to come to the PM space in history. I constantly shake my head when I see people touting chart analysis and threats of inflation as why silver boasts such an impressive opportunity. People seem to neglect that Silver is a precious metal, a finite resource and one that is consumed at a rapid rate, as if it were a common metal. Let's not forget that we mine silver at a ratio of 8:1 to gold, there's less available silver above ground than gold and silver doubles as a commodity in more ways than gold ever will. Our world could largely exist today without Gold, yet the same cannot be said for Silver. It's historic performance in price has lead many astray to believe that silver is destined to be a poor performer, while it undergoes it's cyclical patterns of boom to bust, yet the supply and demand fundamentals of the physical metal tell a completely different story looking into the near to distant future.
Silver is very gettable at 100aud. Charts are oozing it. Idiots said gold would never go over 1000usd. Idiots they were.
Same question as why would anyone pay $12,000 for a bitcoin, something that don't even exist? Or pay $2000 for a tesla stock?
Seems like an odd question when people overpay for countless stupid things (and $100 could still represent fair value depending on geopolitics)
its still cheaper than peanuts we have not have a run yet with more members, the silver spirits will sprint higher
If you have virtually unlimited cash (like FRS), you can suppress PMs prices for years via banks. Silver especially is a strategic metal commonly used by military and government aerospace. They are accumulating physical while keeping it's rise checked.
