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<p>[QUOTE=&quot;InfleXion, post: 1721593, member: 29012&quot;]My point is that just because you don&#039;t know something specifically doesn&#039;t mean you can&#039;t compare against it. You may know for a fact that your car is moving when you are inside of it, but without assistance from another person or your speedometer you can&#039;t know precisely the speed. Someone could ask, are you going 20 mph or 50 mph? You might say I don&#039;t know but it&#039;s definitely more than 20. The metaphor holds water even if loosely.&nbsp;&nbsp; </p><p><br /></p><p>I am not going to put a price out there. I can make an argument for fair value silver in triple digits but I&#039;m not going to, because it doesn&#039;t matter. What matters is that the price mechanism is broken and that metals are unique compared to all other commodities, widgets, etc. because they are elements. We can&#039;t produce them in a factory. They need to be looked at in their own context.&nbsp;&nbsp; </p><p><br /></p><p>I will consider silver undervalued until such time as supply exceeds demand (old silver scrap no longer being needed due to mining supply alone being sufficient which it currently is not), and also until real interest rates are positive. When those 2 things occur I will begin transitioning a portion of my stack back into my home. Or if gold and silver become money again and are valued accordingly I will do the same. </p><p><br /></p><p>Price is of no significance to me other than what exchange ratio I get when converting dollars. Since there is no way to know fair value there is no way to throw a target out there for what is undervalued except to say that due to the current environment it appears to be very undervalued.[/QUOTE]</p><p><br /></p>

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