what's up people long time no print, well oil hit $102 a barrel yesterday it's at $100.56 right now. It seems my predictions are coming to past, i predicted $100 dollar oil. http://blackmoneymagazine.blogspot.com/2007_10_19_archive.html
Then i predicted $120 oil
I also predicted gold would go higher from $791 an ounce now it's $960 an ounce in just 3 short months http://blackmoneymagazine.blogspot.com/2007_11_21_archive.html
In short the financial prophecies that I've made are all on point take heed or watch your pockets bleed.
Now i will get into why i think you should liquidate your 401k's and put your savings in silver bullion which is greatly undervalued. I found someone who sums it up better than me so i will post his news letter.
Remember the Golden rule people he who has the Gold will rule.
Here's why silver is a better investment than gold...Silver has all the same monetary properties of gold, and more!
The historic price ratio of silver to gold shows that about 10 ounce of silver would buy one ounce of gold, a 10:1 ratio. Recently, the ratio is about a 50:1 ratio (with silver at $13/oz., and gold at $650/oz.) As the silver to gold ratio returns to historic values, from 50:1 to 10:1,
you may make over 5 times more money investing in silver, instead of gold!Silver prices may rise to exceed the 10:1 ratio, for the following reasons:Supply is price inelastic. Higher prices may not cause increased supply (production). Why not? Because most silver is produced as a by-product of mining gold, copper, zinc, or lead. Thus, higher silver prices will not substantially increase the amount of silver mined each year. In 1980, when silver prices went up to $50/oz., less silver was mined than in 1979! Demand is price inelastic. Higher prices may not cause reduced demand (consumption). Why not? Because most silver consumed by industry is used in such tiny quantities in each application, such as in film or electrical contacts, that rising silver prices will not easily slow down the growing industrial demand. Additionally, as paper money continues to fail, people will buy silver and gold without regard to price, or they will increasingly buy simply because prices are going up!Almost all of the silver produced by the mines each year is consumed by industry, which leaves little to no room for substantial investment demand. The tiniest bit of investment demand will drive prices sky high.Silver mines produce about 650 million ounces of silver each year, about 200 million ounces come from scrap recycling, and about 100 million ounces used to come from investor selling, or government selling. That's a total of about 950 million ounces. Of that, about 42% is consumed by industrial use, about 28% consumed by jewelry, 20% consumed by photography, 5% consumed in coins and medallions, and that's 95% of total available silver each year! This implies either a "surplus", or "investment demand", of about 5% of the total, or about 42 million ounces--for 2004.Due to silver use, or consumption, lasting decades, silver may now be more rare than gold, in above ground, refined, deliverable, forms. It is estimated that there is about 300 million ounces of silver available to the market at the present time. There are about 125 million ounces of silver at the NYMEX, the big commodity exchange in New York. (As of April 5th, 2006) Each silver contract at the NYMEX is a promise. There are too many contracts, too many promises to deliver silver that may not exist. Each contract is for 5000 ounces. There are often over 175,000 contracts for 5000 ounces, that's a total of 437 million ounces of silver, promised to be delivered. Yet the exchange has about 1/3rd of that in real silver. How can they promise to deliver more silver than exists? If they fail to deliver silver, according to the promises and contracts that they have made, then confidence in the world's entire financial system may collapse. Industrial users of silver may have to shut down their factories. To prevent this, the users will bid silver prices much higher.Due to the risk of default in the silver futures contracts, I suggest that you avoid buying futures contracts, avoid options, and avoid storing your silver with anyone else! Take delivery of your silver, and put your silver in your own safe!Despite silver's intrinsic properties as money, silver began to lose its status as money starting in the late 1800's, as nations stopped using silver, and started using only gold as money. Over 100 years of this "demonetization" has caused a serious drop in silver's value, and this trend is about to be reversed as investors learn about silver's intrinsic properties (and market fundamentals) again.The Silver ETF (exchange traded fund) has created significant investment demand (about 100 million ounces in the first four months) into the tiny silver market, and now, many funds with hundreds of billions of dollars are able to buy silver for the first time.In the end, as paper money fails completely, the neglect of silver’s use as money will be over. Once again, silver will be valued based on other measures of value, such as a day's wage, or a ratio to gold. If silver exceeds its historic value, as I expect it will, due to the scarcity, from its importance in electronics and photography, then perhaps a silver dime, silver quarter, or silver dollar’s worth of silver will be worth far more than a day's wage, as it once was.How high will silver prices go? You do the math on what a day's wage should be, and you tell me!Will people be hurt if silver and gold prices rise? Not you if you own some! But also, honest weights and measures used in commerce are supposed to produce prosperity for all of society, not poverty.
But you must act to benefit from this information. Don't wait for silver to rise before buying it. Silver prices could rise by over $20/day to exceed $100/ounce at any time if large funds or billionaires buy with desperation.
you may make over 5 times more money investing in silver, instead of gold!Silver prices may rise to exceed the 10:1 ratio, for the following reasons:Supply is price inelastic. Higher prices may not cause increased supply (production). Why not? Because most silver is produced as a by-product of mining gold, copper, zinc, or lead. Thus, higher silver prices will not substantially increase the amount of silver mined each year. In 1980, when silver prices went up to $50/oz., less silver was mined than in 1979! Demand is price inelastic. Higher prices may not cause reduced demand (consumption). Why not? Because most silver consumed by industry is used in such tiny quantities in each application, such as in film or electrical contacts, that rising silver prices will not easily slow down the growing industrial demand. Additionally, as paper money continues to fail, people will buy silver and gold without regard to price, or they will increasingly buy simply because prices are going up!Almost all of the silver produced by the mines each year is consumed by industry, which leaves little to no room for substantial investment demand. The tiniest bit of investment demand will drive prices sky high.Silver mines produce about 650 million ounces of silver each year, about 200 million ounces come from scrap recycling, and about 100 million ounces used to come from investor selling, or government selling. That's a total of about 950 million ounces. Of that, about 42% is consumed by industrial use, about 28% consumed by jewelry, 20% consumed by photography, 5% consumed in coins and medallions, and that's 95% of total available silver each year! This implies either a "surplus", or "investment demand", of about 5% of the total, or about 42 million ounces--for 2004.Due to silver use, or consumption, lasting decades, silver may now be more rare than gold, in above ground, refined, deliverable, forms. It is estimated that there is about 300 million ounces of silver available to the market at the present time. There are about 125 million ounces of silver at the NYMEX, the big commodity exchange in New York. (As of April 5th, 2006) Each silver contract at the NYMEX is a promise. There are too many contracts, too many promises to deliver silver that may not exist. Each contract is for 5000 ounces. There are often over 175,000 contracts for 5000 ounces, that's a total of 437 million ounces of silver, promised to be delivered. Yet the exchange has about 1/3rd of that in real silver. How can they promise to deliver more silver than exists? If they fail to deliver silver, according to the promises and contracts that they have made, then confidence in the world's entire financial system may collapse. Industrial users of silver may have to shut down their factories. To prevent this, the users will bid silver prices much higher.Due to the risk of default in the silver futures contracts, I suggest that you avoid buying futures contracts, avoid options, and avoid storing your silver with anyone else! Take delivery of your silver, and put your silver in your own safe!Despite silver's intrinsic properties as money, silver began to lose its status as money starting in the late 1800's, as nations stopped using silver, and started using only gold as money. Over 100 years of this "demonetization" has caused a serious drop in silver's value, and this trend is about to be reversed as investors learn about silver's intrinsic properties (and market fundamentals) again.The Silver ETF (exchange traded fund) has created significant investment demand (about 100 million ounces in the first four months) into the tiny silver market, and now, many funds with hundreds of billions of dollars are able to buy silver for the first time.In the end, as paper money fails completely, the neglect of silver’s use as money will be over. Once again, silver will be valued based on other measures of value, such as a day's wage, or a ratio to gold. If silver exceeds its historic value, as I expect it will, due to the scarcity, from its importance in electronics and photography, then perhaps a silver dime, silver quarter, or silver dollar’s worth of silver will be worth far more than a day's wage, as it once was.How high will silver prices go? You do the math on what a day's wage should be, and you tell me!Will people be hurt if silver and gold prices rise? Not you if you own some! But also, honest weights and measures used in commerce are supposed to produce prosperity for all of society, not poverty.
But you must act to benefit from this information. Don't wait for silver to rise before buying it. Silver prices could rise by over $20/day to exceed $100/ounce at any time if large funds or billionaires buy with desperation.
P.S - I will show you what type of silver to buy and where in my next blog.
