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Posted 06/11/2011 2:47 pm
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Maybe it's just me but isn't this a relatively bad time to sell gold to buy silver? I am saying this from the standpoint that the gold/silver ratio is around 35:1 and in the recent past has been in the 60:1 all the way up to around 80:1
I liked your comments about the gold:silver ratio. That should be a BIG number to all who collect gold and silver. My thought is that the actual ratio of gold to silver in the Earth is about 16-17:1Maybe it's just me but isn't this a relatively bad time to sell gold to buy silver? I am saying this from the standpoint that the gold/silver ratio is around 35:1 and in the recent past has been in the 60:1 all the way up to around 80:1
Now, let's throw that into a severely cocked hat.
While there is 16 times as much silver mined as gold, 90% of the silver mined by 1990 is gone to landfills. Almost every bit of gold still exists in bars, coins, and jewelry. Even electrical contacts the size of the lead of a pencil tip are readily recycled.
There is now five times as much gold above ground as silver. Silver should be $8,000 an ounce.
Can't happen? Look up the historic price of rhodium, which reached $8-10,000 not long ago.
