Why silver is the MOST UNDERVALUED ASSET of all...
Besides the fact gold is not 62 times more valuable than silver LOL! OK, here is why: All of the available silver in the world (1-2 billion ozs) is only worth $22 to $44 billion dollars at today's price. Folks, that the Fed creates that much money in 7 to 14 days with QE! Think about that. Every ounce of aboveground silver bullion in the world doesn't even cost what the govt deficit spends in 1 or 2 weeks. If someone wanted to get delivery of a few hundred million ozs it would only cost a few billion, and it wouldn't even be possible to take delivery of that much because the exchanges don't have it! We are talking about ALL the silver in the world. Less than 2 weeks QE. The entire market capitalization of every silver miner in the world ex-SLW is less than that of a minor oil company. See what is wrong with this picture?
If I was rich as Slim or WB I would buy SLW and take it private and just sell enough silver at market to make a tiny profit and just keep warehousing all that silver. By the end of the decade they'd hold hundreds of millions of ozs in the midst of a metal storage.
You need silver in EVERYTHING in modern society. It's critically essential, like oil or food. Its variety of uses, and their volumes are only increasing with population growth and the rise of the world's "middle class."
There is actually 5B ozs of aboveground gold, more than silver. Not sure why its 62 times more expensive than silver now except paper traders are selling thousands of tons on COMEX and LBMA even though they don't actually have hardly any! LOL Even every single ounce of gold ever mined that exists is only $6 trillion marked to market now. So all the gold in the world isn't even valued at what Obama deficit spends and the Fed prints in a 4 year term. Think about that. IF YOU OWNED EVERY OUNCE OF GOLD IN THE WORLD IT WOULDN'T EVEN PAY OFF HALF THE NATIONAL DEBT!!! What does that tell you? And the dollar is good?
Although you express some valid but debatable points, and everyone here benefits if AG goes higher, my overall comment is
don't quit your day job. And there's a reason you are not as rich as Slim or WB.
But GL to you.