And having a billion things to measure a billion other things against is part of the problem. When there is a universal standard, like gold (and/or silver) it's easy and you can't bullshit people about it: someone has to go dig it out of the ground and if you have it, you have it (and if you don't, you don't). When you're measuring the value of everything against dozens of made up currencies that can be majiked into existence at will by central banks without even having to tell anyone, it becomes a farce. And if you ever find yourself seriously looking for trading opportunities in the current hot woman-to-porcupine ratio, you may as well kill yourself because the world has clearly gone to hell.
& from my experience both are going to cause you some pain : .... didnt ur mum ever tell you to find a nice homely one that will look after you cheepo ?
If 50 $ will buy you a bag of lollies in 2040, then silver's price might reach 5,000 $ by 2040 Growth might not be disproportionate in a way that it would be detrimental to silver's value. In fact, if currency devalues that much, I expect silver to grow disproportionately higher. As it did until 2011. What I want to say is: perhaps you'll even gain a lot is you stack. Perhaps silver's price will jump disproportionately. It did during this bull market. Why wouldn't it jump again?
Petrodollar was alive and kicking, no major economic crisis, no QE, no this and that... the list could go on. But my guess is they will try to suppress silver and gold. The question is: for how long? 1-2 years? 10-20 years? 30+ years?
Gees I hope it doesn't take another 30 years for silver to rise again.... I couldn't take 30 years of 'silver is going down' threads by treasurehunter, 'going lower' posts by cheepo and 'sideways' posts by CJ :lol:
this never make sense, as the last $8.50 silver was much better than $16 silver currently. it took 27 months to get to $48 ? now at $16, will it ever take that much time to go to $100 ??? 30 years ???? wow somewhere is broken up there :lol: :lol: :lol:
We already tried that experiment when currencies were backed by physical metals...that didn't go well. Fiat is king and will remain king for the foreseeable future. They may, in some future time, call the currency something different (like the "Global Dollar" or whatever) than what they call it today, but since the nature of human beings will remain the same, so will the ways and devices they use remain the same, more-or-less. U.S. debt, what debt? When you have the ability to intimidate, bribe, force, or coerce your debt holders and you have the ability to take other's resources at little cost, you, in effect, have little or no debt. Don't hate the messenger...I am not responsible for human nature being the way it is today. .
Silver might jump this weekend if switzerland passes the gold referendum on the 30th. Silver is a finite resource and is consumed in the industry because it is the best metal conductor. It is increasingly used in solar panels and many clean energy initiatives. It might take a few years to get back to $50+ an ounce, but with gloabalization, the market does not take as long to repeat cycles these days.
That Ferrari wont be $300k in 45 years, it will be 3 Million Bread will be $10 loaf Cup of Java will be $20
Correct me if I am wrong, but I thought it was NOT increasingly used in solar panels as companies have found ways to reduce the amount needed while others have figured out alternative ways to build without silver. I hope I am wrong.
You are not really wrong chowdersilver. Companies tend to always look for new technology that will help them save money...reducing the amount of silver is just one way. Another way is the replacement of silver with inexpensive materials. It's been done before when silver spot was high, some solar panel manufacturers were using copper instead of silver (there are articles about this on the WWW) and there is research currently into new materials to replace silver. Silver is anything but indispensable...and yet some people still think of silver as if they were living 2,5000 years ago leading them to believe that we can not live without silver. It's just not true. That said, silver is quite useful and it's usefulness will likely always remain...especially if new large deposits are mined for little money (if it's a secondary metal or byproduct of other metals mined) or new primary silver mines are run extra efficiently (which can and will happen). That will drop silver down even more and make it that much more useful....potentially driving the price higher if large scale industrial demand actually put stress on all this new hypothetical surplus. . .
I'd give bread maybe 5 years to hit $10 and coffee 10 years to hit $20 (and it could be a whole lot sooner) rather than 45 What we're all hoping for, even if it's not our primary goal, is that silver process will significantly outpace inflation 10% per annum over inflation would be a nice rate of return ...... That would require silver to be slightly in excess of $60 oz within 10 years
If prices are staying down the next 30 years why are you so concerned about the price in 5 weeks time?
yeah how much does GOOD bread cost these days its crazy so in 1950 how much was a loaf 3p ? so at this point silver hasn't kept up?
Metal-based currencies worked fine for thousands of years. It's only ever been when certain elites decided they wanted to cheat their way out of hard times or go to war that fiat currencies have been introduced. The only reason gold and silver are superior to apples or porcupines (or fiat) is that it lasts forever and you can't fake your way to riches with them. Either you have to go to a lot of time and effort to dig it out of the ground (which takes surplus capacity out of the economy as people literally go off to "make money") or you have to produce something useful and exchange with someone else for the money they have (which encourages the productive use of resources). Fiat will remain dominant until people come to appreciate the need for real value.
Not concerned at all, just thinking and analyzing. Prices tend to sink before New Year. Which I expect to repeat again this year. They can indeed stay down for decades. It would be agonizing. That too is a possibility. No-one knows! Perhaps only Goldman Sachs...