Have been reading on silver in late 70s and early 80s etc, by pure coincidence just noted that today is the 31st anniversary of Silver Thursday, 1980, when the silver prices fell very sharply... Just wanna see what you think about the likelihood of another Silver Thursday...So many things in political and financial structures have changed in the past 30 years. Do you think it is likely for silver to drop to, lets say, to $5 from $50 so quickly again? My own perspective is that it is likely that we might see sharp falls from, lets say $70 to $60, from $50 to $40, but I would not expect a fall from $50 to $5 again...Everyone keeps talking about SHTF scenerios in relation to optimising profits out of it, this is a SHTF scenerio for us, people who try to stack some PMs from their salaries without much purchase power...How likely do you think there will be such a significant fall again, the silver stacker's nightmare, the SHTF for small time silver stackers like, well, most of us... Sky
I guess its possible we could see another "temporary" large drop to $15-20oz but we will never ever see Silver under $10 again.....ever. We will see another Silver thursday someday, Silver will be in a bubble within 2-5 years but if you have been buying for a while or even buy most of your stack soon, you'll very much unlikely get burnt. Depends what happens with the US dollar. I suspect the below scenario quite likely. 1) Silver gets to $100oz within 2-5 years and then hyper inflation sky rockets Silver up to $300-$500oz. (but you wont be able to sell your silver for that much, not to a dealer anyway) Big investors start to sell their Silver, and everyone panics and does the same crashing Silver back to $30-70oz and then over time grows a steady 10-20% a year until its at a price feasible to mine. Once its feasible to mine, lots of Silver mines will open up and Silver will just grow slowly over time like any other metal, albeit maybe a little faster. I have a feeling there is a tonne of Silver below ground and it's not as rare as the silver gurus want you to think. Nobody knows what will happen though. Just make sure you have a plan. If its to buy a house, then put as much money in Silver as you and sell when you double or triple your money. If you miss out on any further gains, you still wont feel as bad as waiting too late to sell and losing all your gains. If you believe in a SHTF scenario here in Australia like some do, then maybe hang on to your metal... I could be way off the mark of course... Who the hell knows what to do lol?
The only thing that can drop from $50 to $5 is the house ? And if silver drops heavily - thats ok, i will be surprised for 3 days, and than its shopping again !
dont forget $50 then would buy you alot more than what it does today. So the 50 it reached back then is like it being around 4-500 or so today?
Who converted their silver holdings at $50 fiat per oz in 1980. Silver remained at $50 for how long. Was it really worth $50 if it came crashing back down to base so quickly and traded relative to where it was prior to the spike. Why an acute spike to $50 in 1980?. Why was it not $75, $150, $275 or $550.
