I saw a bit on the news the other day that some guy in the States
has hoarded some obscene amount of silver (saw some pictures of it
all....gasp!). This apparently happened to a greater degree
twenty years ago, and silver went up dramatically in price then
too. Does anyone know how long something like this can last?
Yes, as of yesterday he had 20% of the world’s supply. Gasp, gasp,
gasp. When the Hunt brothers did this back in the 70’s silver went
up to $50 an ounce. **gasp… choke… sob… !! I just looked
up the spot at Kitco and it was over $7.
If Buffet causes the same response I guess I’ll be setting stones
in silver spray painted pot metal.
There’s a site I found yesterday that gave all kinds of news
analysis, but I can’t seem to find it again. It didn’t sound as
though most of the analysts expected this to go away anytime soon
and they also seemed to expect gold to rise because of this.
Bacliff, Texas Gulf Coast USA