Life has been life, lots to keep me busy away from the keyboard lately.
Silver tanked over the last several months, spending the last week or so well under $15/oz spot price, and it was possible to find generic pieces in the $16/oz range. I don't know if it'll go lower. Hell, two years ago I'd have bet it wasn't going under $20. I keep buying a little bit where and when I can. Most of my recent purchases have been "junk" US coins, mostly in the form of half-dollars. For some reason 90% quarters just don't interest me. Dimes and halves, please.
As to spot price, though...
One of the sites I read had a comment about "and then it goes to $1000/oz next month!"
This would be a Very Bad Thing. Spot moves around every day. A few percentage points up or down is a normal day. Ten percent is a big day. For silver to go to $1000/oz would be about a 6000% increase. Six thousand percent. For that to happen, the US Dollar would have to be massively devalued, otherwise known as hyperinflation.
The stories of wheelbarrows of cash to buy a loaf of bread, always from falling countries behind the Iron Curtain or third-world dictatorships? Yep. That's what we'd be talking about.
I picked up a Zimbabwean ten-trillion-dollar bill a while back for about US$3. In June of this year, they decided to end that currency, basically a hard-reset of the Zimbabwe currency system. The exchange rate?
Z$35,000,000,000,000,000 to Z'$1.
Thirty-five quadrilliion to one. My Z$10T note is worth about a thirthieth of a new Zimbabwe cent (10/35000ths of a dollar).
Fiat currency ... quite literally, not worth the paper it's printed on.
1 month ago