[Ed. Note: Sorry, sometimes we try to do too much too quickly around here. LINK FIXED!]
by Bill Holter, Miles Franklin:
A catchy title this “$5,000 Silver?” don’t you think? Am I crazy? Is this even possible? In who’s lifetime? Ours or our great, great grandchildren long after we are dead and buried? The best way to look at this I believe is to briefly look at silver’s big brother gold and then postulate whether it’s possible or not.
To begin, let’s look at what happened in 1980 and why gold traded up to $875 in the first place. As Jim Sinclair has said many times, gold “moved in a manner to cover the value of foreign held debt of the U.S.”. He has also said “$50,000 gold is possible and it may turn out that this figure is far too low”. Before you laugh and start firing spitballs at me or Mr. Sinclair, I remind you of his call of “gold at $1,650 per ounce by Jan. 2011″. He said this when gold was $350 per ounce or so and the year was around 2004 if memory serves me correctly. He was called a nut job and far worse …he was correct in retrospect and off in his timing by about eight months …SEVEN YEARS AHEAD OF TIME!
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