silver hitting 30 year high (~$32) Silver pushing towards $32 an ounce today ... wow It's interesting but if you look at a 40 year chart of the CPI adjusted price of silver (basically taking into account inflation) silver looks like it has a lot of room to run ... $50 an ounce looks easy. (Note that the chart shown ends in early 2007). Adjusting for inflation, the old peak for silver is nearly $250 an ounce hit in 1980 (measured in 2011 dollars).
I would've took a time machine, went to 1964, got TONS of silver, and went to 1980 and sold it. INSTANT MILLIONARE
Very interesting indeed WingedLiberty. Inflation's impact on the perception of how high silver actually got in the 80's makes prices today seem quite small in comparison. I have been expecting $50/oz silver this year as well, but I wouldn't be surprised for it to go even higher. Not that I would use that ceiling as a reason to justify this one to rise, but it certainly puts things in perspective. Though this time the market isn't being cornered by a couple brothers. It's being bought up by China, India, and people at large who are becoming more and more aware of how the money system actually works and its risk of unsustainability. Based on the reports I've been reading, demand is only going to continue to rise. It seems like everybody cashed in at the new year to adjust their portfolios, but otherwise this hill climb has been pretty steady. Silver Hits 31-Year High as Mints Ration Silver Coins: http://jutiagroup.com/20110218-silver-hits-31-year-high-as-mints-ration-silver-coins/
