Silver and prospects in next few months
This long term silver chart shows how speculative the metal is.
If we look at the Hunt brothers debacle in the 80s where they tried to corner the market it led to disaster.
The attempts by the Reddit crowd to send it up would normally fail.
We must be aware though that this price move could carry much further due to the devaluation of money in general.
Gold is my preferred play as it has been around since humanity discovered greed....
Silver was one of my big investments at the beginning of the 2000 s and it had quadrupled when I sold it.(far too soon by the way)
The possibility of that happening again cannot be excluded.
It would be very dangerous to short silver at this stage and it may even carry over to gold which in my opinion is still the best long term bet.
Would definitely prefer silver to bitcoin as it still has some industrial use and an intrinsic value.
So long term investors should hold gold and silver and some gold mines which are basically options to hedge against fiat currencies.
If we look at the Hunt brothers debacle in the 80s where they tried to corner the market it led to disaster.
The attempts by the Reddit crowd to send it up would normally fail.
We must be aware though that this price move could carry much further due to the devaluation of money in general.
Gold is my preferred play as it has been around since humanity discovered greed....
Silver was one of my big investments at the beginning of the 2000 s and it had quadrupled when I sold it.(far too soon by the way)
The possibility of that happening again cannot be excluded.
It would be very dangerous to short silver at this stage and it may even carry over to gold which in my opinion is still the best long term bet.
Would definitely prefer silver to bitcoin as it still has some industrial use and an intrinsic value.
So long term investors should hold gold and silver and some gold mines which are basically options to hedge against fiat currencies.
Bitcoin can come down with Tesla and NDX Gold and Silver touched levels where big buyers will now come in.
Buy Newmont
Hecla and Barrick
Also buy IAU