I'm with you on the 500 an Oz, with the caveat of not selling until after the election... Am at almost a perfect 50/50 balance between gold and silver, but silver is a lot more useful.
Interesting, if one does the math, the mined quantities that are estimated, the ratio is 1751000 /298874
This means that the sliver to gold ratio is about 6:1
Traditionally it was alway 16:1, So that 16 ounces of silver could be swapped for one ounce of gold.
The market cap is estimated to be about 10:1. I don't know why.
The 16:1 ratio has long been NOT the case.
The silver price has been kept down through means foul (Silver EFTs for example) so that it could remain affordable, and be used for industrial purposes. And as @Pbman2 points out, silver has been used up. But meanwhile, the currency inflation meant silver was taken out of the common man's hands.
Most of the silver mined is lost forever. It was used up in photography, solar panels and electrical circuit breakers,and silver plating.
Current use exceeds production by hundreds of millions of oz. The Chinese and India's are currently buying up all the reserves.
They can have my shiny at 500 an oz.
I'm with you on the 500 an Oz, with the caveat of not selling until after the election... Am at almost a perfect 50/50 balance between gold and silver, but silver is a lot more useful.
https://www.usdebtclock.org/ projects silver at $1,559 in five years.
That works for me.
I've been stacking more for the last few week.
You can buy junk silver for it's melt value, or close to it.
Interesting, if one does the math, the mined quantities that are estimated, the ratio is 1751000 /298874
This means that the sliver to gold ratio is about 6:1
Traditionally it was alway 16:1, So that 16 ounces of silver could be swapped for one ounce of gold.
The market cap is estimated to be about 10:1. I don't know why.
The 16:1 ratio has long been NOT the case.
The silver price has been kept down through means foul (Silver EFTs for example) so that it could remain affordable, and be used for industrial purposes. And as @Pbman2 points out, silver has been used up. But meanwhile, the currency inflation meant silver was taken out of the common man's hands.