Another year, the world on fire and silver and gold do fuck all, oh no, sorry, I lied, they have fallen.
They have fallen because oil has fallen, oil has fallen because demand has fallen, oil makes up a significant part of the miners hence the reason why they haven't all gone bankrupt.
Ah, but the premiums, they will detach from the spot price...annnnnnnnnnnnnnnnd again, I am calling BULLSHIT on that too. What do I see when I go onto APMEX today, ah yes, any quantity of silver philharmonics for 16.10, oh yes, that is the runaway price they have been calling for. What's that? it's a sale? hmmm sales are rolled out to stoke demand, which means that demand is not there!
What's that? China is slowing down, but but the ASE's, yes, the ASE's which are just a damn brand. You can buy buffalo rounds for 99 cents over spot, does that strike you as a silver shortage? lol, we have been conned.
The con is on two levels, firstly there is the deliberate, cynical and exploitative practice of sharks trying to always suggest that people buy more silver which by the way has left a lot of people financially crippled and then there is the con of the public still buying into the con game.
Then there is this ridiculous bullshit which has been banded around that a) the central banks would never again raise rates and if they did even a quarter of a percent would be too much. I am willing to bet that the central banks raise interest rates again within the next 2 years.
Then of course there has been the deliberate tactic of ignoring and smearing those who expressed doubts about the price strength/demand as shills. Yet the "shills" have been spot on and then you ask who is a shill for who?
Then of course there is this ridiculous bullshit austrian crap that deflation is impossible because the money supply hasn't contracted....meanwhile in planet reality there is vast debt destruction, there is far less disposable income, there is nowhere where capital can flow to which represents real growth, consequently demand is dropping and lo and behold, prices are falling. Yet this "golden" austrian premise has been used to justify why silver would never be seen at $30 again, okay, never be seen at $26 again, $22? errr nope, surely not lower than $20, okay, definitely it will hold at $18!.
Remember the cost of production, that was going to stop prices from falling any further ....hmmm yeah, another fallacy. Now I know what you are thinking, oh he is bitter, you are damn right I am!. I bought into this bullshit from 2011 to 2013, then I realised it was bullshit but then bought into the notion that it would run it's course and find a reasonable platform on which to slowly rise again....hmm not so much.
The final insult of course is the following......"the price is irrelevant" okay, let's destroy that sick joke of a statement, if you bought silver at $40 then you have lost over 70% of your purchasing power, but wait, it gets worse, if we are to believe and I have no reason to doubt that living costs are rising at a steady 5-6% minimum, then your purchasing power has decreased by in excess of 80%. Ah yes they say but when it rises again......when it rises again, it won't mean shit if it's rising because there is a new inflation bubble, you will still have destroyed your purchasing power.
I am not using Craig as an example here because he has said explicitly that you should only be investing a fairly small percentage of your savings into this, but that is not the message you hear from countless other silver sharks and con men who have basically been parading as heroic samaritans ready to take your money to save with you metal in return, oh how sweet of them.