“I’ve been quoted many times saying I expect to see triple digit silver, and that’s assuming gold doesn’t move. If gold goes to $10,000, then silver will be some ridiculous number… could even be $1,000 silver.” Silver Price Forecast: Silver Could Hit $1,000 Per Ounce, Insider Says
I wish I had a nickel for every one of these bogus claims being made about gold or silver over the years. This shit just never dies. It’s like an old piece of gum stuck to the bottom of your shoe and you can’t get it off, but if you walk around enough, sure as hell you’re going to get some of this crap stuck to your shoe. Are these people nuts, or what?
This article was posted about 13 hours ago. There are now thousands of these kinds of claims routinely trotted out to convince ‘investors’ that the next big hit is about to happen. And they are always, consistently 100% wrong. These guys, Northwest Territorial Mint filed for bankruptcy recently.
I’ve not updated this article of mine, no real need to do so, but here’s a few real facts about these ‘investments’: The Fallacy of Gold – Some Truths About Gold
The future doesn’t look good – by any measure or metric. Silver and gold are not what anybody needs since it’s near-useless as a practical vehicle of alleged ‘value’. Here’s a current news item: Venezuela is having a very tough time feeding its population right now, most products are simply unavailable at any price. No food, no toilet paper, no medicine. The country is now liquidating a portion of its gold holdings.
Give this a few moments of thought. Irregardless of why this is unfolding in one of the richest oil nations on the planet, it reveals a basic fundamental truth of modern society:
What matters in this life as far as your survival is concerned is the ability to buy the things you need when you need them.
The ridiculous conversion of cash into gold, then the wait…. wait… wait, ah, shit, gotta sell this crap…. then back into money, then try to go and buy what you may urgently need is expensive, slow and fraught with dozens and dozens of problems (see the Fallacy article above for full details – no need to redo them all here again).
The future world unfolding is going to be very, very harsh and difficult. Precious metals don’t even figure into this equation anywhere (and never really did). If it weren’t for my own food supplies, I’d have starved to death a long time ago. I can’t grow enough food here to live on and I can’t do the work anymore anyway and there’s no more income. But I’m not ready to check out and give up yet – my ringside seat of civilization’s collapse is just getting interesting and I plan to be here for a while yet. I prepared for this eventuality years ago.
You can believe the hype and propaganda of the gold bugs, or you can use some common sense and project your own situation now or a few years hence. What will it be?