This is my first post on this site and I am sure the first of many but for this initial one I am going to start the ball rolling by calling out what has become a self evident scam by those pumping the idea that silver is sky rocketing, or if it isn't then it shall indeed fulfill this statement.
The first thing that occurs is that the same names are trotted out by any proponent of silver and they are almost exclusively (surprise surprise) sellers of silver, wow what a shocker there. Even the ones who aren't sellers per sa are analysts for said sellers. There was a time where I actually thought that they would doing people a service and whilst sure they were making money from it, it was, at least in part an altruistic thing to do.
SInce the latter part of 2016 and following 2017 they have been out in force insisting that any moment now silver would sky rocket and that every movement upwards is a confirmation that the bull market is firmly intact. Yet the reality is that the market has lost over 60% of it's value since 2011.
The above is nominal value and does not take into account the fact that according to their own words real inflation is about 5-6% and not the 1-2% as is often reported by the newspapers and tv media. Which means in real terms the fall has been that much greater than 60%. I am not going to do the math on it, because it's too much of a kick in the teeth for yours truly who invested heavily into this.
The silver con men ignore the above and report on rumour, or just downright lies to suggest that a "new buyer" has just emerged or that supply is incredibly tight. Uh huh, so incredibly tight that if you visit a wholesaler website you can purchase hundreds of thousands of ounces if you should wish to.
They attribute the fall in silver to "manipulation" but yet strangely can't seem to realise that it was speculation which drove it up in the first place (manipulation).
They will champion figures which show a big increase in the ownership of american silver eagles but then completely ignore the significance of sales when sales of said brand have plummeted. Silver is a good investment IF you buy in at low prices...is the price low now? who really knows, but the ridiculous antics and cynical tactics employed by these people have left a bad taste in the mouth.
If you should buy silver do so, but remember that sharks swim in these waters and they masquerade as being a voice of the people.
Remember the BS from the bull market too...this bull stinks right now.