What did you find interesting about the article? From my perspective the article misses much of the point of owning silver at the moment. The article seems to approach silver as if it were just another vehicle to make money. From a historical prespective, silver is money. One of the reasons to own silver is if in a time of massive quantitative easing and huge government deficits as far as the eye can see, silver can be protection.
I'm putting all my money in lead.
They say silver has been manipulated well that could explain it. As far as silver being money, that is the past, just like gold was once money, now they are both just investments.
I read the other day where some predict copper to set a new price record next year.
The article did not mention the Hunt brothers.
In 1979 the sons of patriarch H.L. Hunt, Nelson Bunker and William Herbert, together with some wealthy Arabs, formed a silver pool. In a short period of time they had amassed more than 200 million ounces of silver, equivalent to half the world's deliverable supply.End Quote
When the Hunt's had begun accumulating silver back in 1973 the price was in the $1.95 / ounce range. Early in '79, the price was about $5. Late '79 / early '80 the price was in the $50's, peaking at $54.
They eventually lost it all.
Or did they-
They got "bailed" out ???
Ultimately, the Hunt brothers ran out of cash and decided to, in Bunker's own words to Herbert, "Shut it down." They ended up owing 1.5 billion dollars.
Fearing financial disaster, Fed Chairman Volker approved a bailout plan for the Hunt brothers. A group of banks loaned them 1.1 billion dollars.
Read more: http://www.articlesbase.com/finance-...#ixzz14E7pcTrn
Under Creative Commons License: Attribution
Too big to fail.
The U.S. mint has just started to offer the proof Silver Eagle again after suspending its production due to the silver demand.
If I had thrown a dime aside that I earned from my paper route in 1957, it would have proved to be a reasonable store of value. I could have used the dime in 1957 to buy 3 first class stamps and had change or I could have bought a cup of coffee or a half gallon of gas. If I found that dime today, its buying power would be a bit over 3 first class stamps or a cup of quality coffee, or a half a gallon of gas. While the government might have changed the definition of money to not include silver, silver retained many of the attributes of money, while what they call money lacks many of the necessary attributes.
I maintain a fairly substantial position in physical silver. While others might assume that I was making an investment, my objectives are really the preservation of my wealth. Just about every investment has counterparty risk, and in a time of trillion dollar deficits and quantitative easing gone mad, I rest easier not having counterparty risk.
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