RE:Silver to hit $50 in June, China driving the surge -Chen LinNo comment on Chen's listing for AXU, just a few pics with Clynt pointing to the wilderness, (though he does offer commentary or videos on some other visits). AXU I have to admit I was still optimistic until late 2021 when I started to think things were starting to look a little fishy despite all the
Blue
Sky fully funded for a year cash flow positive startup 'news' followed by multiple money raises. For those sentiments I was roundly attacked by the rah rah crowd, but I did end up doing very well indeed using various tactics as I have mentioned before. Had I just held on to the HL conversion I'd only be up less than a handful of dollars, not 10x that.
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Chen did also visit Novo, in 2019 with Quintin Hennigh as guide, and speculates there could be from 100 Million (conservative estimate) to a Billion ounces of gold in the Novo properties. Strong buy reco. This visit was 2 years after the mania of 2017 which I caught the early part of. Funny story I had held Novo off and on for a few years and it had spiked a couple of times then gave it up. I had a bunch when it shot up to 2 bucks then dove to 1.30 so I sold. It dropped to 1.20, and I had the urge to buy back in but my target was a dollar so I waited, didn't pull the trigger - and it ended up going to 9 dollars. As happens often I left a quarter million on the table, but did keep a gain of over 20,000 unlike so many others who lost a fortune. Novo's at 12 cents now and QH doesn't talk about it too much any more.
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The silver shortage thing I've usually been pretty cynical about as noted in a recent post despite being a silver/gold lover since the 1950s and after - I used to buy bags of (real) silver dollars when I was a kid, but being a kid would usually end up spending them. I never used paper dollars, just silver dollars. Despite being a history and money buff I didn't think the de-silverization of money would happen so fast. You may not remember, but the excuse given by the government when it happened was that there were so many vending machines being installed at the time that's why all the (silver) coins disappeared from circulation. Yeah, right. They were being melted. You couldn't even get change in a store; they wanted you to bring exact change. Of course even in the Roman Empire and other nations historically money was debased due to inflation until coins became slugs, which our coinage is now. Even the penny in Canada was discontinued; is the nickel next, and when?
We could get 50 dollar silver, maybe not in June. In 1980 it hit 50 (like 150 today!) for about a day until Comex declared liquidation only (it was good to be on the other side of the trade), it hit 50 again briefly a few years ago, but the cure for high prices is high prices. The silver COTs longs are still unusually high but declining a bit; when the specs start liquidating downside can come fast but maybe 'this time it's different'. Yes, it can be different, I don't say it can't, but tends to 'bubble' periodically.
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Anyway, for your enjoyment, another scary silver defict chart. Note that the previous 11 years surplus covers the 2022 deficit with 100M oz to spare. 2023? Who knows.
Silver Defict Ok, another.
Why silver will surge in 2014.