
Man in the Iron Mask asked: I acquired a small stash of silver (roughly 250 ounces) in 2008 and 2009 at about $17-$19 per ounce. Now I know there are metal purists who believe that it is a life preserver and you will need it to barter for stuff in a post apocalyptic America, and others who see this as a bubble.
I am more leaning towards a catastrophic devaluation of the dollar due do a rapidly expanding money supply to prop up the housing market and keep these large banks solvent. It’s the currency risk that makes me feel like selling is like pulling an ejector seat, because I am trading something tangible for debt money that is essentially getting more and more valueless per day.
I wish this was the 80′s again so that I could sell at what was then a huge market top, but…back then Volcker decreased the money supply by raising interest rates to double digits. I can’t see that happening.
For those of you who invest in metals, what are you’re views on where the price is going, and do you see a pullback or consolidation period in the near future?
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