Are you suggesting silver will go to $15?
Are you suggesting silver will go to $15?
Well, I’m old enough, smart enough, and been wrong enough I’m not about to say something is impossible.
But I suspect $15 silver has gone the way of the Sabre Toothed Tiger and the Stegosaurus.
Estimates about how much silver there is vary. Usually they start at the bottom end at about 1 billion ounces.
Top end comes in at around 6 billion ounces.
If we are liberal and go with the 6 billion figure, that amounts to about 1 oz per person on Earth.
And 6 billion ounces could be had/controlled at 15 dollars an ounce with 90 billion dollars.
Now, 90 billion dollars sounds like (and it is) alot of money. But in fact it’s less than one tenth of a trillion dollars. And to the fund managers, the derivatives markets, the venture capitalists, it’s small fry, these guys probably have 90 billion in change in their couches!
I’ve read estimates that the total face value of all the hedge fund contracts and derivatives markets adds up to:
250 quadrillion dollars.
That’s 250,000 trillion dollars.
If you ever see $15 silver again, back up the truck. Then go out and beg, borrow, or steal another truck!!