RE: $50 Dollar Silver This Year? James TurkSo Lattes how did that bearish prediction for AVR work out for you? Might I remind you that you were of the opinion that AVR would trade lower and there would be many opportunities to flip the stock, while I stated AVR would go to at least $.60 short term? Well where is AVR now? My position was, it was not a time to get fancy and trade AVR! The window to trade AVR and accumulate a position was gone!
Comparatively silver jewelry production has gained ground while gold jewelry production has wained. Also, a lot more silver jewellery gets lost than gold jewellery and people will buy silver jewellery as an impulse.
Lattes the demand for silver going forward will be primarily as an industrial commodity & currency and NOT jewelery. Where do you come up with these gems? I suspect Ted Butler is correct and at some point we will see a default of epic proportions on the COMEX and JP Morgan will take it on the chin for their outrageous short position in silver.
Very long term I am bearish on both silver and gold and expect that in five years from now we will see silver under $10 and gold under $500 inflation adjusted to 2009.
Now there's a statement worthy of a MOTY! So with massive monetary inflation you are predicting a lower silver in terms of the same FIAT that is being printed on an unprecedented scale! GET REAL!!!!!! I would go as far as to say that there is a chance, in five years, that no amount of USD will buy ANY silver!
I'll say it again but you can buy US Silver blind at under $.20!
All the best,
The Bluenote