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West Ky | Prescious metals in a bubble? Please lol. I have heard that now for a long time. Silver needs to hit 150 an ounce before it meets its inflation adjusted price of 1980. Gold has to hit over 2200 an ounce to meet the inflation adjusted price. Also Silver is way below the levels (number of ounces) it was in 1980 oh lets say around their are only 1 billion ounces in the world today compared to 50 billion that it once was.
The reason why Silver collasped in price in 1980 was because two guys were buying up all the silver they could to corner the market then the rules were changed midway through their buying which required them to put more money down on those shares they bought. They didn't have that money so they lost a lot of money and silver came crashing down. Now everybody who is smart is buying silver because they know it is very rare and the world's currencies are failing and are going to fail. | |
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Gold bubble
