I have often said that after all my studies I am beginning to believe that silver is more important to the world than gold. I started to think along these lines when I realized that silver, which dollar wise is one of the smallest markets on the commodities markets, has the largest outstanding short position against it, larger than gold even.
Also, the number of days it would take to cover these short positions is the highest of all the commodities as well, nearly 160 days of production.
A brief description of the above is this……If you go “long’ a contract you expect the price to go up. If you go “short” a contract you expect the price to go down. This “sentiment” affects which way the price moves. It has NOTHING to do with physical supplies. It's much more complicated than that but this is the Quote of the day post.
Anyway, the Quote of the day…..
"SILVER MONEY IS MORE IMPORTANT TO THE WORLD THAN GOLD." - Congressional Digest, November 1931, page 286.
Peculiar that, no?
Anyone who wants to go deep down the rabbit hole, read the following…..
The Silver Stealers series of articles……read for yourself the drama surrounding this metal for nearly 100 years….. that's where the quote was drawn from.
I urge you all to increase your positions with more zeal and fervor than I have ever conveyed. Ignore the price, eat one less meal a day, sell some of your personal belongings, whatever it takes. I strongly believe that after 5 years has passed you will NEVER be able to afford it or even find it ever again. Its production will be completely controlled by the governments of the world due to its scarcity and the difficulty they will have in mining new supply due to the price of oil and credit constraints.
Ignore this advice and be impoverished. Heed it and thrive.
And who says I don’t have a sense of humor through all of this?
The end of the silver price suppression that is! LOL