You are 100% correct. Up is down and down is up.
Blam, I’m addressing my post to you, since we’ve talked before, but this post is really to everyone. For those who say that silver is in a bubble, or that silver is “over speculated” I say baloney.
Here’s why. Today, I went shopping, and I took the time to do some pricing. I looked at the price of meat, yeast, eggs, and a few other things, that I just took note of today.
Sirloin steak, used to be 2.29 on sale here (last two years), or about $2.89 regular, and as of today, was around $7.59 or so, not on sale. Yeast used to be 2.50/lb not on sale, and is now 5.99 regular, $4.00 was the sale price. Eggs used to be about $0.79/large dozen, now about $1.89 for a dozen medium eggs, not on sale. Gasoline has also gon up by about 150% or so. Last year veggie plants at the hardware store were about $2.00-$2.49 per pack, today they were nearly $4.00. I did not price them today, but two years ago, I checked the price of socks and undergarments, Socks were about 3.49 for a dozen, now they are about $7.00 for 8-10 pair. One brand of undergarment was $8.50 for 5 pair, now are 2 parif for $7 (And previous to that, 4 years ago, were 6 pair for 7.50).
The price of silver has NOT gone up. The dollar is merely dropping like a rock. Everything relative to silver, in food, fuel, clothing, etc., etc., has gone up by double to triple in the last two years. The recent food, fuel, and commodity gains and clothing retail prices have shot up in the last 30 to 60 days also, not just silver. the thing is, that the companies that were trying to hold prices down through Christmas, didn’t slam us all at once after new years, they’ve incrementally raised prices every few weeks, to not shock us (and to thwart anger and compete for customers), but the fact of the matter is that retail prices are up, whether or not some bureaucrat says they are. I’ve done my price checking, I keep a budget and am a very regular buyer. I have no reason to believe that silver (or gold, to say, “real money”), or any other good necessary for civilized life (soap, food, fuel, clothing, NOT ipads), will go down relative to the dollar. I believe there may be a slight drop as some people sell to capitalize on another good they may need, but it will not last long. People will flee further to PM’s if there is a depression, the demand WON’T go away. It never has (though it has been of less value to some), and probably never fully will, even if you can’t eat it. The fact is, people want stability, and fiat money never will provide it.
My two cents (worth less everyday).