Announcement

Collapse
No announcement yet.

Is Silver the new Gold?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Is Silver the new Gold?

    http://www.telegraph.co.uk/finance/p...-new-gold.html
    Mike

  • #2
    Re: Is Silver the new Gold?

    Let's hope so. I have lots of coins. Gold stocks as well.

    Comment


    • #3
      Re: Is Silver the new Gold?

      I have both, so does not matter to me, but the ratio of Gold price to silver price does seem too high.

      Comment


      • #4
        Re: Is Silver the new Gold?

        Originally posted by jiimbergin View Post
        I have both, so does not matter to me, but the ratio of Gold price to silver price does seem too high.
        In a depression, 1 oz of gold is worth 90 troy oz. of silver, so the current price for silver is too high. It will drop more yet.

        Another myth to clear-up in the silver market is the myth that silver is rarer on Earth than gold. While native silver is quite rare on this planet, most silver is mined as a by-product of mining other metals, especially copper. With the price of copper now pushing $2 per pound, silver will soon be flooding out of copper mines--- at almost zero cost.

        Funny how these myths get promoted in the precious metals business. Another myth that is promoted is the myth of a huge industrial demand for silver. Sadly, the demand for silver has never been less, especially with the advent of digital photography and the replacement of the old demand for silver for coins.

        If the lower $800s is the bottom on gold, $9 to $10 is the likely bottom coming up on silver. But this still may not be the final bottom, especially if gold fails to hold the $800 handle.... If Bernanke is replaced at the Fed by Paul Volker, all bets are off on precious metals.
        Last edited by Starving Steve; 04-07-09, 11:06 PM.

        Comment


        • #5
          Re: Is Silver the new Gold?

          Originally posted by Starving Steve View Post
          If Bernanke is replaced at the Fed by Paul Volker, all bets are off on precious metals.
          I find this hard to conceive, but it prodded me to check out the rules on reserve chair member terms... I read the following from the federal reserve website at: http://www.federalreserve.gov/generalinfo/faq/faqbog.htm#1

          As stipulated in the Banking Act of 1935, the Chairman and Vice Chairman of the Board are chosen by the President from among the sitting Governors and must be confirmed by the Senate. They serve terms of four years and may be reappointed as Chairman or Vice Chairman until their terms as Governors expire. The Chairman serves as public spokesperson and representative of the Board and manager of the Board's staff and presides at Board meetings. Affirming the apolitical nature of the Board, recent Presidents representing both major political parties have selected the same person as Board Chairman.

          Comment


          • #6
            Re: Is Silver the new Gold?

            Originally posted by plinko View Post
            I find this hard to conceive, but it prodded me to check out the rules on reserve chair member terms... I read the following from the federal reserve website at: http://www.federalreserve.gov/generalinfo/faq/faqbog.htm#1
            "...As stipulated in the Banking Act of 1935, the Chairman and Vice Chairman of the Board are chosen by the President from among the sitting Governors..."
            Well that's kind of interesting...because Ben Bernanke was not a sitting Governor of the Federal Reserve Board when he was appointed as Chairman. He had resigned from the Fed to become Chair of the Council of Economic Advisors the previous year.

            Comment


            • #7
              Re: Is Silver the new Gold?

              What exactly could the great Volker do?

              Comment

              Working...
              X