It looks like the pause in the upward climb of silver price is finished.
It seemed to take forever for silver to go from $20 to $30, back to $20, back to $30. Up to $100. It is finally $70. And, silver looks like it is getting set for its move to $500.
It looks like silver dropped in price because people needed liquidity, such as, they needed money to pay bills, and sold assets to do that. However, i am sure that is not the whole story. This is also the ending of the silver price manipulation, and T.H.E.Y. will do whatever they can to keep control.
However, now there are too many upward pressures, and very little physical to quell it. Although, that hadn't really stopped them before. Except that now, people are looking for ways out of paper. Really looking.
The demand for silver outstrips mine capacity
- People looking to get out of fiat into precious metals
- Industrial/Tech use
- Flat screens
- Solar panels
- Computers
- Plumbing
- Jewellery
When silver was at $20 an ounce, it was literally cheaper than dirt. The silver we got was because of mining other minerals like gold and copper. Now we see big electronics firms going straight to the mines and making deals to buy up all their production and paying to get them to expand their production.
People who were buying at $20 an ounce might think that $70 an ounce is pretty good, but it isn't in the range where enterprises start looking for more sources of silver.
The end of silver price manipulation
It is very evident the price of silver has been manipulated for over 50 years. There are too many smoking guns to deny it. Except, that the SEC ignores it/denies it, even when it is put right in front of their face.
When a group can use paper contracts to manipulate the price, which is payable in currency that they can print. There is no way of breaking that. They can always print more paper-silver to sell. They can always print more paper currency to buy.
What they can't do is print more silver for industries that NEED silver. There isn't a replacement for silver.
And, if the COMEX won't/can't do what it was set up to do (match producers and consumers in a market) then the COMEX will be ignored! At all/any cost. If the middleman isn't doing their job, the people will go around. And that is what they are doing right now. Electronics manufacturers are going straight to the mines.
Once this happens, COMEX will never get their status back. Further, we will probably see blockchain used to track where silver is going and what has really been produced. Tokenization of silver future will probably happen. Where actual suppliers are the only ones making token, and actual silver users are the only ones bidding.
There may be "off track" betting, but that will just be a casino off to the side.
And then the demand SPIKES!
Coming soon is many technologies that NEED silver.
All that future tech that we often refer to as "alien tech" will become today's tech. And a LOT of it NEEDS silver. (again, no substitute)
This tech will spike silver demand. And, if there is any COMEX left, it will either have to clean its act up so quick that there will be studies and documentaries on the quickness. Or, the COMEX will be forever forgotten. The manufacturers of this future tech need the silver, and will do everything they can to get it.
(Get ready for guys going around in vans offering thousands of dollars for an ounce of 9999 fine.)
And then the govern-cement / military industry gets involved, because they NEEED!!! silver.
Silver is classified as a national security metal.
There will probably be some laws about only selling to the govern-cement, but there will not be confiscation laws like in 1933, because that only nets a little. What the po-po can get out of bank deposit boxes, and raiding certain people's houses that have advertised they have silver. But, most of the silver in people's hands will go into holes in the ground never to be found. So, the govern-cement will (most likely) not make a law about you having to turn in your silver.
BUT! They will make it very enticing for you to sell the govern-cement your silver. Like thousands of dollars an ounce, and no capital gains taxes. Or maybe even tax credits.
Silver is a very good buy right now. We probably won't have to wait decades for the price to increase (like many of us who bought at $5, $20, $30).
The concern will probably be more of when is it good to sell?
Selling for 1000 FRNs, (Federal Reserve Notes) which are dropping in value almost daily, will probably be a losing deal (unless you need the FRNs today, to buy something like a house, or groceries)
Selling for 1000 Trump Bucks (place holder name for the money that will be produced by the US treasury to replace the current FRNs) may be a good idea, because it would be a good way to jump start into the new currency (or money, we have to wait and see)
But, but, do we sell for $1000? or do we wait for $2000? Do we wait until the govern-cement sets their price? It won't be long before it goes from, "we will buy silver at $1500 no questions asked" to "we will buy silver, but you have to fill out all these forms and have an approved bank account for us to credit"
And, although silver will remain valuable, if you wait till after the govern-cements crash, there may not be highly motivated buyers.
Buying silver will be a great investment. Truly generational wealth building. And unlike crypto, which will probably also be a good investment, you can hold silver in your hand, and bury it in the ground.