On January 18th of 1980 the spot price of silver rose from $6 an oz to $49.75. Panic hit the markets and there was a frenzy to figure out why and also how to get in on the skyrocketing metals markets and take advantage of the rise
Anyone near or close to the metals markets may have heard the name "The Hunt Brothers" Nelson Bunker Hunt and William Herbert Hunt had upto this point successfully cornered the market and were enjoying watching its historic rise. It was said they held 50 billion dollars worth of silver and silver paper certificates.
In 1973 the sons of a Texas Billionaire began to leverage borrowed money and put it all into silver futures contracts. Over the next 7 years they bought up as many contracts as they could cornering the silver market in an attempt to manipulate it's price.
It worked. By 1980 they held an estimated 100 million oz's of silver and future contracts. They held almost 1/3 of the entire world supply of silver not counting government reserves!
The brothers almost completely cornered the market and used leverage to push the price of the shiny metal to all time highs. This led the U.S. government and Federal Reserve to step in and enforce new rules on the Comex. They totally rewrite the rules for futures trading but surely never fixed the racquet.
Again in 2011 silver prices spiked to near it's all time high of $50 usd an oz. The world economy was in shock over the USA debt crises and uncertainty hit the markets. Coupled with the presidential election and Moody's downgrading the US dollar investors flocked to precious metals like they always do to secure their fortunes. Banks, private investors and large financial firms bought up massive quantities of the shiny metal and its price rose fast.
All this was because sentiments were that the world economy would collapse. It didn't and the metal prices fell back down to earth. Tragedy and economic uncertainty make the price of precious metals soar. History shows a consistent track record for uncertainty and tragedy. Metals follow this trend and work the opposite of the stock markets. Stocks can be devalued and worthless in hours but metals can never disappear.
Silver today is around $17 an oz in USD. Many believe it's incredibly undervalued but the markets are being now manipulated to keep the price suppressed. Some claim to know how much the production cost of the metals are but mining companies keep the true numbers mostly undisclosed. There's not a true method to figure out it's worth.
When will silver break out again is anyone's guess? Silver futures are still bought and sold in large quantities to take advance of the swings. There's so many people involved and entire nations are stocking up on the metal but not devulging true numbers of their stores. That and the fact silver contracts are being sold and tons of the metal are sold but never really move or are being truly accounted for make the manipulation and next price blow up sure to be even more ballistic.
Silvers uses are many, from just tech to the medical field there's said to be over 10000 uses for the shiny metal with more being discovered everyday. How long before a shortage occurs and the price sky rockets again? Noone truly knows this answer but one thing's for certain, it's not more than a lifetime away and I hope I'm along for the ride!
Many stackers and collectors are investing fortunes in it for this reason. Many people try to predict the price but the truth is nobody really knows? You dont have to be a rocket scientist though to figure out the amount ever mined historically cannot fit the demand over time, something will have to give.
The result will be an increase of price the likes we have never seen!
Banner by @bearone
Nice read! Upped and re-steemed. I start staking not so long ago and I like it. My last adition to the pile was this one. Got one for my kid and one for me :D
Those are very cool. Use the force and get more silver 😝 Thanks for stopping by my Cuban friend
You are welcome! :D I can see the Silver is strong in you ;) Cheers!
i want this where did you find this cn?
Germany! Here https://www.emk.com/en-us/silver/bullion/darth-vader-1-oz-ibniu201730
It's funny how we went from the Hunt brothers all the way to the opposite end of the spectrum to the paper manipulation of the markets! Great post, can't wait for the shiny stuff to have its day!
@goldenarms it is good to reinvest some of the crypto profits into physical assets, and as you point out, silver looks as if it might be a good place to park it.
Take a bit of your profits and put it into metals. I don't think u can go wrong if you're patient? It sure is fun to look at in the meantime 😊
I have found I don't care much about the price of silver. I just like the stuff. You can tell you are holding real money when you have it in your hand. Gold is the same but there is something special I like about Silver. Resteemed
ps my mom and step dad have been going to canada and bringing me back dollar coins lol you guys still make cool coins. The current us ones are pretty boring.
I'm with u, I love holding it and feeling its weight in my hands. So beautiful to look at too. Thx for stopping by and checking out my post. This one took me forever haha. Cheers
I like your photo of the scottsdale 1 oz round. I scored one a few months ago from jmbullion in their random ounce item.
Oh dude I love Scottsdale anything. I need to get one of the Reserve rounds. Those things are spectacular!
this makes me want to up the precious
I can't get enough. Sometimes it's hard not to take money from other areas and buy more but I just keep adding a bit here and there, pretty consistent but it's never alot. One thing about stacking is it really adds up over time. I'm enjoying these low prices tho. Cheers @doitvoluntarily
Silver is the future!👍
Good job GA!
Thx for checking it out and commenting twice 😊
Sorry my phones been playing up it keeps posting for double for some bizarre reason! 😯
I just took out my silver stack and hugged it. Thanks for the reminder why I locked up a bunch of USD in silver.
Thx @steemmatt for stopping by. Have fun hugging your stack 😊
This post has received a 2.91 % upvote from @drotto thanks to: @goldenarms.
@goldenarms got you a $1.8 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
Great post GA! And love that '08 Kook. I'm going to have to track one of those badboys down ;)
The 08 is the caddilac of all the Kook designs for me. I wish I had of got more, this is my only one. They're not cheap now but terrific classic design for sure
price going to high
Great post!
Thanks @kp138. Took me forever I'll tell u that 😊
Great post, silver will definitely go to the moon one day, and like you I hope I'm there for the ride.
We can buy private islands somewhere once it's $1000 an oz haha Thx for dropping by @grizzman
This post has received a 15.06 % upvote from @nettybot thanks to: @goldenarms.
Send 0.100 SBD to @nettybot with a post link in the memo field to bid on the next vote.
Steem WitnessOh, and be sure to vote for my owner, @netuoso, as
Have a great day!
WOW NICE POST
I am going to talk to all the people in a way that if you want to work with me, then you can send me a message so that you can give me the other one, then in a month we can earn a lot of people but we will be together with each other. have to give. If you are approved, then send me a message on my phone Whatapps Number-
9737525233
Great post man!
You did some fantastic work with your camera and your write up. A nice showcase of your silver pieces, I bet you had fun photographing them!
I did yeah. Always love to pull it out and look at it. That's sounds bad but u get it haha Thx for checking out my post @silvernova!
Steem Witness Hope you enjoyed your bellyrub!This post has received a Bellyrub and 5.83 % upvote from @bellyrub thanks to: @goldenarms, @goldenarms. Send SBD to @bellyrub with a post link in the memo field to bid on the next vote, every 2.4 hours. Be sure to vote for my Pops, @zeartul, as
If you check out the site: http://www.usdebtclock.org - it shows the real (unmanipulated) value of Silver.
Great well thought out post, should help a lot of fence sitting newbies to finally take the plunge into silver and out of the clutches of the darkside, for that reason im resteeming and upvoting
Thanks alot @geordiesilver. This one took me forever so I appreciate it 😊
Great post enjoyed the read. Hopefully it will take off sooner rather than later. In the meantime stack on.
I'm actually hoping it stays at these sale prices for awhile yet..so I can add alot more! Cheers @quicksilver
Great info - way to educate em - the world needs person's like you!
Click the banner below to enter the world of silver
Interesting! I may have to swing by the Pawn and see if I can pick a few up. I love silver, but own none of these type coins.
They sell at a bit of a premium but u should be able to get it back once u sell. Most figure it's gonna sky rocket one day anyways once silver realised it's true price. Cheers
glad i got to read this, i am still slowly trying to figure out best ways for me to slowly stock up on sliver coins and bars,
love the team canada emblem
Yeah feel free to use the tag and banners bud. Check the tag there's a post from me with all the new graphics. Also silvers cheap right now and there's millions of options. Goto your local store and pick up $25 in constitutional. You'll feel it's awesomeness and want more lol
thanks gomna try figure how i use banners on esteem and i feel i use it to post half the time, i will i think i will later on this week and i will make a post about my first silver buy
Excellent post. The patron saints of silver! We shall honor their memory!
Silver will run wild again in the near future! Great article! Stack On...
Nice collection! I really like the Canadian silver dollars, they're really well minted. @ironshield
I truly believe what you say, but the movement of the market over the last few years is very disheartening. I am still keeping the faith and stacking.