billionaire Eric Sprott – Expect $200 Silver

http://countdowntozerotime.org/2013...pect-200-silver-as-financial-system-implodes/

I do not know of him but many others seem to think silver is going up.

 

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The thing is that silver doesn't fluxuate in value much. The value of the dollar does! That's what he is referring to. Look up hyper inflation.

 

I'm not an expert on markets, but I recommend stocking up on silver for 3 reasons. 1: It's cheaper than gold, and 2: inflation is a huge problem right now, and at the current rate of the deficit, seeing silver spike to $200 an ounce isn't really that unbelievable, so get it while it's hovering around $30, and 3: in the event that the dollar crashes, it is a likely possibility for silver to become a national currency standard.

 

I've said it before and I'll say it again... I predict the sun will rise tomorrow as well, in the East! You heard it here first. :thumb:

 

It's funny how people will just believe some people with their claims. If the same guy said "tomorrow is going to be the end of the world", most would shrug him off. But nooooo... if he says silver is going to be $200, it must be true.

The silly things people believe.

Now, could silver go up to $100 or $200? Sure, but it's not because this guy predicted it. It could very easily go down to $10 as well. If someone predicts these types of things, it's just pure coincidence when it happens as anyone can make claims, when you do the math, the odds are always there.

 

I agree with you 100%, although I'm pretty sure I was extremely careful not to jump on the $200 silver bandwagon in my last post.

 

Right.

Silver reached $48/oz early in 2011. Now, it's back under $30. If that actually means my dollars have increased in value by 50%, why won't they buy me 50% more of anything else besides silver?

Silver is a commodity. Its value fluctuates, and fluctuates substantially -- not just by comparison with the dollar, but by comparison with any other measure of value.

If you want to declare that silver is the absolute measure of value, and it's actually bread and milk and gas and real estate that's been spiking up and down over the last few years, that's fine. I'll leave you to work things out with the gold-standard folks.

 

I wasn't targeting you, I was just targeting people in general who do jump on those bandwagons.

 

$200 silver......ah, I can see it. And when that happens bread will probably cost $15/loaf and gas $25/gallon........

 

Don't worry though, minimum wage will be $100 an hour, so it all works out by balancing itself out.

 

Somethings inflate quicker than others.

 

I like to go back and watch youtube videos or articles published around 2010 or so and see all the crazy claims of $500/oz Silver or $150/oz silver and $3000/oz gold. Really cracks me up

 

Well let me introduce you to the boy. Eric Sprott is an Investor/Hedger who owns an Investment Management Co. He also has started and manages a Physical Silver ETF (PSLV). Nothing wrong with that, and from what l can see, Sprott is a good business man. The problem of course, is Sprott has a vested interest in convincing folks that silver is going up, so you need to take his rhetoric about silver with a grain of salt. So when Sprott says silver is a good investment, it is like GM saying it is a good idea to buy a new car.

In addition, he past predictions have not really panned out. His numbers for end 2012 were Silver over $50 and Gold at $2150. Seemed like more of a pipe dream than a prediction.

 

I believe silver will go up, when? No clue. If you're a serious "stacker" you don't care what the price is. I really don't believe it will go up in price until the public wants to cash in on it. When I go to the coin shops I don't see flocks of people lined up to buy Silver Eagles or junk silver. I see people getting rid of their silver and gold. But what do I know. I'm just a tiny ant buying an oz here and there and forgetting about it. I do believe the system will fail, but I'm not going to buy 1,000oz tomorrow and hope the dollar collapses the next. No one should be looking forward to that happening. Honestly though check out Chris Duane over on the greatest truth never told. I watched it and it changed the way I see everything. Haven't had cable/dish tv in over a year. It's amazing what you can find on this amazing little Internet.

 

Bingo!!! Even if you do believe the system will fail, lets not get crazy about it. First off, the collapse of the dollar would be an ugly thing that would effect corner of the globe. How the world would look is really anyone's guess. With no place to run to, it is very likely that silver wouldn't be worth spit anyway. We just don't know. Any who thinks they do is just fooling themselves.

The second point is even if silver is worth something, that might not help you. In my opinion, the silver would wind up in the peoples hands who have the biggest Army, not the folks who stacked it. This is just how things work.

The third point is, even if the stackers are correct, and the Zombie Apocalypse is inevitable, do not underestimate how far they can kick this can down the road. It very likely it might not happen in your lifetime, or the next lifetime. We just don't know.

So bottom line, to use a poker term, I just don't see the pot odds for preparing for an event that may or may not happen.

Mike

 

Sprott has been saying 100-200$ silver in articles linked on coinflation since I found the site a couple years ago.

Seems like demand for silver is up, it costs more to get it out of the ground, US keeps printing money, seems like the price would have to go up.

 

I am also just a tiny ant buying an oz here and there and forgetting about it. If silver were to go up to $200oz my days would be rare to buy more. I would love $16oz silver again (I would stock up), but I do not see it with the out of control spending by Dems/Reps.

 

You need to understand what contributed to PMs prices going up last decade:

- Increasing production costs (Oil, Labor).
- Increased consumption in emerging markets (demand for gold has thripled in india & China.
- Push by investors to find alternatives forms of investment as equities went sideways and fears of money supply etc..

Now what we have is Stock market is rallying and you have funds selling off their PMs to jump into rally (perhaps they are late who knows), demand in emerging markets for Gold & Silver is drying up and Europe is in brink of recession and couple that Oil prices holding their ground. It is no surprise i have been saying for last year or so PMs will go sideways. All the calls for 300 silver makes little sense and is simply people trying to make $$ at the expense of others'.

 

China and Russia buying gold as protection against currency reset
http://www.arabianmoney.net/gold-si...ng-gold-as-protection-against-currency-reset/

Demand by other National Gov'ts is increasing.

 

I am talking about gold consumed for Jewelery which makes a greater portion of overall gold consumption than for investment purpose. And also with debt raising countries aren't in position to increase central bank gold purchases and some are even forced to liquidate their holding.

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