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08:14 PM
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Silver still flying off the shelves
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[quote:Larry D. Croc:MV80NzA2NDAwXzg1NjgxMDE4XzlFMDNEOTdC] [quote:Agent 99:MV80NzA2NDAwXzg1NjgwNjMwXzFFREYyODFD] Can you explain the silver squeeze thing. So paper silver is entirely different than physical silver. Paper silver is going to end up in class action suits because they can't produce the physical and lots of people will lose tons of money. We know this part. Physical is limited. Supply and demand. What will this distribution to personal ownership do to the price of silver this coming year? No one has been able to answer this accurately, with wild speculation up to 25k per oz. Then all kinds of estimates of price to ratio that doesn't make sense. Reasonable estimates are Gold 5000 per oz. Silver 70 per oz. But what determines these prices? [/quote] Once upon a time...a dollar was backed by one ounce of silver and a twenty dollar bill was backed by one ounce of gold. There are those who maintain that this "historic" ratio is the correct one. It's akin to saying that since at one time people used horses for transport that we should maintain that an no automobile should have an engine that produces more than one horsepower. It comes down to supply and demand. Which means the prices of gold and silver will vary and don't have any fixed value ratio unless a government decided to create such a relationship with a precious metal vs. fiat currency. There really hasn't been a "distribution to personal ownership" at this point. Current owners have sold into the rallies, new owners have purchased what was sold. That may change if the demand for physical silver continues and grows. If that demand does not persist and grow this is all much ado about nothing in my view. And yes, I've owned precious metals at one level or another for 55+ years. [/quote]
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