Silver, above ground, is more rare than gold! There is seven times as much gold above ground as compared to silver!
Friday, November 29, 2013
$1,000 For One Ounce of Silver? ...Don't Laugh! -- Andy Hoffman
Andy Hoffman from Miles Franklin joins us to for a clarion call about the true, real world value of PHYSICAL SILVER. With the market value of all available Bitcoin's now more than $5 BILLION, compared to around $21 Billion for all investable PHYSICAL silver, Andy says "What we're seeing is a speculative mania."
As for Bitcoin, I ask Andy, if $1,000 USD is possible for a single Bitcoin, what is one ounce of physical silver reallyworth? Andy says, "Alternative currencies are a viable concept... but Bitcoin doesn't have intrinsic value, whereas silver for instance is the second most used commodity on earth, in fact three quarters of ALL production is used for things other than investment."
As for concrete value for an ounce of physical silver, Hoffman's take is this: "My long standing price target, if it weren't rigged, I would say it should be $1,000 - $4,000 an ounce right now. And that's simply using the math of how much money the government SAYS has been printed and how much gold they SAY they have in reserve. And of course they have printed a lot more than they say and they have a lot less gold than they say."
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet
Posted by Gordon Silverstein