Back to Ganoksin | FAQ | Contact

Silver spot $'s ? <De Ja Vue>


#1

Back in the mid seventies a groupo of brothers out of Texas, the
Bass family, tried to corner the silver market by buying up massive
amounts of silver…they failed, but did make silver pricing
unstable for a while.

Berkshire Hathaway, Warren Buffet’s investment co. purchased 129.7
million ounces of silver worth more than 910 million. That holding
constitutes 1/5 of the world’s reserves. Prices are up more than
60% since July, '97.

Hope this is of interest for you that use metals.


#2

Silver only being up $1.00 + per ounce, why is this such a big
deal? Gee, gold is over $300.00 and I bet there are many a jeweler
who is still making gold jewelry!


#3

Gee, only a dollar an ounce? What color is the sky on the planet
where you live? Silver has gone from $3 an ounce to over $7, and it
IS a big deal because some mogul with big bucks is diddling with
the very core of how WE make OUR living in order to make a name for
himself and pad his pockets so he can have an extra Rolls Royce or
maybe a yacht or two. I use about 50 ounces a month, so you do the
math. It comes out of my pocket, because there is a limit as to
just how high one can raise their prices with what we do. Gee,
gold is over $300 an ounce and there are jewelers still using it to
make gold jewelry? Yes, there are, because it’s our JOB. And
there are those like me who this month will be eating a lot of
Kraft macaroni and cheese to be able to buy enough casting grain to
finish orders that were placed BEFORE the cost went up. I guess if
you are an artist who only uses an ounce a month, it’s no skin off
your nose. Give me a break, how patronizing!!! IT’S THE
PRINCIPLE OF THE THING.

Laura