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Will Silver Ever Hit $100/Oz

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Valued Member
Canada
70 Posts
 Posted 04/11/2021  8:53 pm  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
Lumber has gone up over 100% in the last year. ,in Canada carbon tax is being added to everything and massive debts are being created that have to be paid for generally from taxes or money printing. So wages have to go up to cover all these higher expenses . Silver is an industrial metal for all the reasons that "Winterfell" gave as well as an inflation hedge . Copper ,palladium , platinum , corn , wheat and flax are all climbing as well . The average house price in Toronto is now over a million dollars . Inflation +++ coming our way . When "MMT" and the great reset fail then I see another reason for silver as well as gold to go up when we see a currency reset .I think money will devalue to the point where the purchasing power in ten years will be worth half what it is now .Just my opinion and I hope I am wrong but am protecting myself in case I am right.
Valued Member
United States
453 Posts
 Posted 04/11/2021  11:05 pm  Show Profile   Bookmark this reply Add captaincoffee to your friends list Get a Link to this Reply
Regardless of whether you do a CPI-U, PCE, BPP, or other type of inflation analysis, silver must eventually reach $100/oz. Gold and silver will continue to be slightly better than putting cash in a mattress (who does that?) and worse than owning companies/stocks or real estate. Possible good short-term investment, probable bad long-term investment, just as it has been for 55 years.
Pillar of the Community
United States
914 Posts
 Posted 05/30/2021  02:48 am  Show Profile   Bookmark this reply Add MrPink2018 to your friends list Get a Link to this Reply

Quote:
I would like to ask the community whether or not they believe silver can hit $100/oz within the next five years. Also, what would have to happen for that to occur?


i honestly don't know & couldn't imagine anything beyond a banker's decision for it to occur.

however, I'm going to say no, it will not hit $100 within 5 years.

now, you posed this question in mid-september 2016.. in another four months it will have been 5 years since you asked. so now the question becomes:

will silver hit $100 by september 18 this year?

.....no. my opinion is no... (but what do I know?... I have no idea, I'm just guessing based on recent past performance, I cannot predict the future..... but, booooooy if I could......)
Valued Member
United States
406 Posts
 Posted 06/24/2021  4:50 pm  Show Profile   Bookmark this reply Add jaxenro to your friends list Get a Link to this Reply
I hear over and over that the US Government has no assets to back up the money they print. I understand that they don't hold the gold and silver to back it up but the US government owns about what, one third or so, of all land in the US including areas with massive amounts of oil, natural gas, minerals, etc. Now maybe some boneheads in the government don't allow it to be "exploited" for political reasons which I won't discuss but as an asset to debt ratio I think the bottom line is they are far in advance on the asset side. Remember Jackson sold off US government land and used the money to completely pay off the debt so the precedent exists, just not the political foresight, or will

Unlike, say, BTC which truly does exist on a wing and a prayer and has no assets of any kind to back it up. Yes if the US government continues on the present course of parachuting money into the economy I do see silver rising dramatically over the next few years, outpacing gold, but at the same time the value of the money that you could sell it for then will be a lot less than the comparable value of the money today.

The bigger problem is the fed has completely tied their hands on inflation. Everyone says when inflation kicks in they can just raise interest rates. But can they? Think it through. On a 30 trillion dollar debt each 1% increase in the interest rate requires another 300 billion dollars in deficit spending to finance it. Going from 0% to the historical average if 5% would require an additional 1,500 billion, or 1.5 trillion, in interest on the debt a year. Can the US government afford a 2 trillion dollar a year debt payment, which it would rapidly approach with the compounding of the debt due to borrowing to make interest payments?

Think of getting a credit card and not only never paying the principle, only the interest, but also charging the interest to the card. At 5% interest the debt doubles every fifteen years and that assumes all other spending is flat, which will never happen. Debt doubled in the last ten years, from 14 trillion to 28 trillion, I expect it to double in the next ten as well

So yes in ten years I see $100 silver but then again a $10 can of coke
Edited by jaxenro
06/24/2021 4:53 pm
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Canada
3999 Posts
 Posted 06/24/2021  5:01 pm  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
When you really think hard ......Silver
a lousy investment and not getting any better anytime soon .
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United States
15867 Posts
 Posted 06/24/2021  6:34 pm  Show Profile   Bookmark this reply Add T-BOP to your friends list Get a Link to this Reply

Quote:
When you really think hard ......Silver
a lousy investment and not getting any better anytime soon

I tend to agree with you ,but you have to give me credit for
fantasizing .

In Memory of Butch L.
and Jim U. rest in peace .
Valued Member
United States
366 Posts
 Posted 06/24/2021  6:56 pm  Show Profile   Bookmark this reply Add halfamind to your friends list Get a Link to this Reply
Well, if you bought a pile of silver when the Hunt Brothers drove up prices (in 1980), silver has not been a good investment.
Valued Member
United States
309 Posts
 Posted 06/24/2021  8:44 pm  Show Profile   Check Singer's eBay Listings Bookmark this reply Add Singer to your friends list Get a Link to this Reply
Does anyone know what happened to YUP7676?

I used to enjoy his posts on precious metals.
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United States
4191 Posts
 Posted 06/25/2021  07:37 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply

Quote:
Well, if you bought a pile of silver when the Hunt Brothers drove up prices (in 1980), silver has not been a good investment.
Don't forget the similar highs in 2011, ouch.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Russian Federation
3557 Posts
 Posted 06/25/2021  10:28 am  Show Profile   Bookmark this reply Add january1may to your friends list Get a Link to this Reply

Quote:
Don't forget the similar highs in 2011, ouch.
Yup. I went on a huge "under-spot" silver buying binge in April 2011, because some of the places I was buying coins from hadn't updated their prices since winter. Then the prices crashed and I realized that I just bought a lot of overpriced coins.

I don't have pics of most of them, but I know I paid $27 for this awesome 1923-S Peace dollar. Technically, on the day I bought it - April 27, 2011 - that was under spot.

Pillar of the Community
United States
2349 Posts
 Posted 06/25/2021  10:51 am  Show Profile   Bookmark this reply Add nfine to your friends list Get a Link to this Reply

Quote:
Will Silver Ever Hit $100/Oz


It will. The day after I sell.
Valued Member
United States
406 Posts
 Posted 06/25/2021  2:40 pm  Show Profile   Bookmark this reply Add jaxenro to your friends list Get a Link to this Reply
Silver isn't an investment vehicle but an inflation hedge. I don't buy silver because I think it will be worth more, inflation adjusted, in ten years but because, all the ups and downs considered, it will be worth roughly the same as today, inflation adjusted
Valued Member
Canada
70 Posts
 Posted 06/25/2021  8:07 pm  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
Timing is everything if you bought bitcoin 3 months ago you would have lost a lot of money but if you bought it a year and a half ago and sold 2 months ago well that would have been great . I started buying old silver bars a few years back and quit because they are brutally expensive now. One bar a 10 oz homestake bar I paid $ 350 for trades around $ 1,100 now .I believe silver and gold will have their day soon--- oh except if inflation is transitory .
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United States
2620 Posts
 Posted 06/25/2021  8:23 pm  Show Profile   Bookmark this reply Add Parklane64 to your friends list Get a Link to this Reply

Quote:
oh except if inflation is transitory


Look, you made a funny!
Valued Member
United States
406 Posts
 Posted 06/27/2021  08:36 am  Show Profile   Bookmark this reply Add jaxenro to your friends list Get a Link to this Reply
Wanted to correct my statement the US government owns one 1/3 of the US they actually own roughly 1/4 of the land in the US

https://ballotpedia.org/Federal_lan...hip_by_state

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