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Official ODT Silver Thread
- Thread starter roscoe1911
- Start date
I'm just gonna sit on mine and leave it to me son..
There were people who cashed out of gold at $700 because that was double what was considered the normal price then. Those people probably regret that now. I think if you sell silver at $40 you will be one of those people. The US Dollar is rapidly losing value via inflation. These trillions of newly created stimulus dollars make all of the dollars which already exist worth less. It's going to take more and more dollars to equal the same amount of silver, but silver itself is also going up in price even when adjusted for inflation.
You have to completely ignore nominal prices, as nominal prices don't factor in inflation. In terms of the gold/silver ratio, silver was at the lowest price it has ever been in all of recorded human history this past March. Even at $40, the price of silver would be historically low in terms of gold/silver ratio. My personal advice is that you shouldn't cash out of precious metals for dollars unless you have some pressing need for dollars. The only time to cash out of silver would be when the ratio starts to favor gold.
I agree with what you are saying that it has to go up and silver should set a new record especially since gold has. Silver has been suppressed for a long time unlike gold and don't know if we ever see what it should be truly.
What? Gold has had its price suppressed, too. Just look at the now defunct London Gold Pool. That's a well documented case of gold price suppression. The same suppression now exists for gold, silver, and the other three precious metals in the COMEX markets. As far as not being sure if we ever see the real, fundamental prices again, that time might be coming very soon.
The COMEX price suppression relies on being able to sell significantly more "gold on paper", or "paper gold", than actually exists physically in the real world. The entire COMEX market is built around the concept of taking some small amount of a precious metal and then making a paper contract to sell that same amount of precious metal multiple times to multiple different people. It has all worked out because, in the past, only a very, very small percentage of people ever actually demanded physical delivery of the metal; investors were buying the precious metal contracts simply to speculate on its price rather than for any interest in the metal the contracts represent. They would be paid in US dollars instead of actual, physical metal. Now, however, the COMEX market is under tremendous strain as a record number of people are buying precious metal contracts and then actually demanding physical delivery. This puts massive strain on COMEX because 1: it was never set up to be an actual physical delivery service for precious metals and 2: they're quickly running out of precious metals to give out. If COMEX runs out of supply of physical metals then we will see the prices of precious metals go to literally $0.00. This wont be because the metals themselves will be worthless, far from it, but people will have realized that the contracts for precious metals are worth absolutely nothing as there's no metal to actually back them up. At the rate things are going, this will happen fairly soon.
JM bullion is at over $37 on them right now.
Now i see you have something i want !!! LOL
