Silver, above ground, is more rare than gold! There is seven times as much gold above ground as compared to silver!
Wednesday, September 17, 2014
Silver Coinage Act
Back to the US, where the silver coinage was abandoned earlier with the Coinage Act of 1965. On 23 July 1965, president Johnson held a speech before Congress in which he explained why the government was about the stop minting silver coinage. I would like to highlight the following part of the speech.
"Now, all of you know these changes are necessary for a very simple reason--silver is a scarce material. Our uses of silver are growing as our population and our economy grows. The hard fact is that silver consumption is now more than double new silver production each year. So, in the face of this worldwide shortage of silver, and our rapidly growing need for coins, the only really prudent course was to reduce our dependence upon silver for making our coins. If we had not done so, we would have risked chronic coin shortages in the very near future."
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