Posted on 12/30/2015 4:02:25 AM PST by expat_panama
Exactly as I see it. Gold is a tangible precious asset whereas the dollar, the euro, etc. are assigned a derived value subject to manipulation.
As did the Texas millionaire Hunt brothers in the 1970s. They did indeed "corner the silver market" and drive up the price some five-fold. However, the resulting lawsuits and back taxes, fines, interest, etc. for commodity manipulation wiped out their enormous but short-lived profit.
Once the scam failed, in just a few days the price of silver collapsed from an artificial high back to below where it was when the Hunts began implementing their insanity.
The Hunt’s acquired paper silver not physical as far as I know. That’s why it has to be physical. All it would take is one super rich person to make the price of silver go to the moon. Someone who doesn’t live in the USA could do this.
Gold and silver will always have a significant level of value to we humans, esthetically, emotionally and as a physical analogue to what we consider as money.
I’m not a gold bug, but to buy and have a bit of each on hand is a prudent investment for anyone who has the extra cash or income to have and keep some gold & silver put away in a safe place. I see this as the ultimate bad times insurance, just like some ammo, booze and some stored food & water are.
Hope bad times never come. If you never need your hoard, the beneficiaries of your estate will at least get a pleasant surprise when they crack open you gun safe.
silver looks to be breaking out...someday it will probly reclaim its historical position w gold imo...almost all silver mined is used up....gold is not...reality is coming for silver.
Used to be an ounce of gold would get you 50 ounces of silver. Silver appears ready to head back in that direction.
Woops, make that 15 oz of silver
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