Quote:
Originally Posted by bnorth
I do have a few questions.
Why would anyone save silver for when the economy completely collapses?
Seriously why would silver have any value, because some people hoarded it?
If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.
Is the market only hanging on now because the hoarders are supporting it?
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Good questions, Ben. I can answer a few, but only speculate on others.
Quote:
Originally Posted by bnorth
Why would anyone save silver for when the economy completely collapses?
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Probably a question better addressed by a prepper, but my guess is that people would still have to buy things and silver would be a way to barter if the dollar became useless and nobody wanted it. Many years ago, other countries wanted the American dollar. Now days, they're trying to get rid of it. Why? Silver and gold have been currencies for thousands of years. In fact, in 15 different languages the word silver and money are the same word. Again, why?
Quote:
Originally Posted by bnorth
Seriously why would silver have any value, because some people hoarded it?
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Same answer as above but, if that were the case, I'm sure other precious metals would have the same kind of purchasing power.
Quote:
Originally Posted by bnorth
If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.
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There are many industrial uses for silver. Here is an article that describes some.
https://www.learcapital.com/news-blo...es-for-silver/
Quote:
Originally Posted by bnorth
Is the market only hanging on now because the hoarders are supporting it?
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No. Only a small amount of silver is made available to the public. I read the numbers once, but I don't remember off hand. I want to say it was like 10-20%, but I may be off on that. I'll try and look it up though. But most of it is used for industrial purposes.