Originally Posted by
nobs
You guys think you are gamblers, well I have a gamble for you. This is a gamble that you will win on too. This is so close to a sure thing that it shouldnt even be called gambling.
Here it is everyone, SILVER.
Right now as I type this, Silver is $16.34 an ounce on the London Overnights. The price of silver can only go one way and that is up. It may take a few years ( or not ) but we are going to see $40-$50 silver before the end of this decade.
There are a million reasons why silver will triple before the end of this decade.
#1. Our gov't currently is 12.5 Trillion Dollars in debt. If that isn't bad enough, they seem to have no concern at all to try and lower that or to even maintain that. We are adding a projected 1.8 Trillion to it this year, and those projections always end up being too low. Look for another 2.2 Trillion or so to actually be added. But there is good news. Next year, the deficit projection is only 1.6 trillion, then 1.5 trillion in 2012 and so on. By 2015 if everything goes perfectly, our govt will only spend 1.1 trillion dollars that it doesnt have. So, even if all goes as planned we are looking at 30 trillion debt by decades end. That is when the baby boomers start retiring and we are hit with anout financial tsunami that we can't handle.
#2. Silver use is exploding. Do you know that every person in this country uses silver every day and most everyone in the world does too. It is in your car, your cellphone, your computer, your keyboard, your mirrors, your video games, your camera, your ipod, your medicine, and in a million other things as well. Currently, 1/3 of all the silver used in the world is used in the U.S., but the rest of the world is now being introduced to things like computers and cellphones that use silver. Experts expect the use of silver to explode throughout the decade. Silver as an investment vehicle is also beginning to explode as more and more people realize that there are some real serious problems coming for the dollar.
A lot of people will say, " there is just too much silver ". Yes, there is more silver than gold, but gold costs around 70 times what silver does. The ratio of gold to silver is maybe 5 to 1. It is estimated that there are 10 Billion ounces of silver above ground in the world. At todays prices, that would be $160 billion dollars or a little over 1% of our national debt.
Yes all the silver in the world would barely pay 1% of our national debt.
#3. You may say, well they will mine more when the price of silver increases. The fact is, silver mining companies cannot make any money mining silver at todays prices. It costs them more than $16 an ounce to mine it. Silver mines are not being mined. The silver that is being mined is mined as a byproduct of other more expensive metals like gold, platinum, Palladium, rhodium. An increase in the price of silver will do very little to increase the amount being mined. In fact, as silver has increased in price over the past 10 years, the amount mined has held steady at 600,000,000 to 650,000,000 ounces per year.
#4. You might say that 650,000,000 ounces per year is a lot. That comes out to 1/10 of an ounce per person per year on earth. Do you have a cellphone ? There is your 1/10 ounce. How about a computer, or a car, etc. In fact, the use of silver has far excedded the production of silver for many years now. In 1950, the govt's of the world held billions of ounces of silver. Today they hold a small fraction of that. In fact, in the late 90's China of all countries sold billions of ounces of its silver not because it was desperate for money but because industry was desperate for the silver.
#5. In 1999, during the end of the Clinton Presidency silver was around $5.50/ an ounce. At that time, we had a national debt of around 2 trillion, had a balanced budget, a strong economy, and a belief by most Americans that we would pay the debt off. At that time, it was stated that $5.50 an ounce was an unsustainably low price for silver. Today, we have a deficit nearly 7 times what it was, a crap economy, 2 wars that arent going to end soon, an Iran getting close to Nuclear Weapons, so thus a third war, a gov't that plans to grow the deficit at over 1 trillion dollars a year.
Silver is going to explode, and I truly think that when we have a 30 trillion national debt ( a lot sooner than you think ), silver will be $50-$75 an ounce easily.
If this is the wrong place to put this, then move it. Wasn't sure.
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