silver fundamentals 2 of 2

SILVER FUNDAMENTALS 2

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I’ve probably been talking too much about silver recently.  It is at the bottom of your prepping list, and just a substitute for too much paper currency.  Silver is really skirting the line of “for the prepper that has everything”.  I don’t mean to imply its ownership is mandated ( other than for property tax on your junk land ).  So, just like when I talk about semi-auto’s, I’m not approving them, I’m discussing them for the minions who disagree with me on them.  When should you get extra silver?  When you start waking up at night with that nagging feeling that you have way too much paper currency and you’re worried you’ve gone from “necessary in an emergency” to the far less desirable “just going to sit there and lose value”.  This is STILL about silver for the economic collapse, NOT civilization collapse.

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I told you about silver being destroyed by its use in industrial goods ( photography, solar panels ).  I had heard 90% destruction of all mined metal.  I believe that source was from SRS Rocco Report, who I trust with little reservation.  A YouTube video stated that the figure was 97%, the additional 7% in just the last six to ten years.  According to that source ( which I have no secondary verification of ), a century ago we had 20 billion ounces aboveground and today just 300 million.  That might be hyperbole, so don’t quote me. 

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Unfortunately, regardless of the true numbers, the basic premise these people view silver through is flawed.  Silver tied to industrial uses, and depriving its value therein, was just a blip on the historical record.  It won’t continue, as the fuel to drive any modern industry disappears.  Silver will return to its monetary value only.  So, we not only have most ores drying up in supply ( remember, they need to be abundant AND cheap, to fit the current paradigm.  They don’t have to disappear completely before being uneconomical ), we have the need for silver in industry also beginning to end.

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If we’ve pissed away most of our silver taking photo’s of Aunt Gertrude, which we then throw away when she’s been dead long enough, silver becomes far more dear as a monetary unit.  If you are going to buy silver ( just like IF you were going to buy semi magazines-not an endorsement, a discussion on another choice ), you have very little time left to do so, in my view.  One is the supply dry up.  And another is the economy.  Specifically, the derivatives market.  These idiot bankers are repeating 2007 all over again, yet this time, under the erroneous belief that the central bank can bail them out indefinitely, they doubled down on their bad behavior from before.

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Look, I’ll be the first to admit that I had no idea the banks COULD be bailed out the first time.  It could happen again ( as it has been for the last ten years ).  But there is a LOT of details that convince me that more likely than not, this time it could definitely be Game Over.  I’m not claiming this has a 100% change of occurring, but if I was a betting man ( which we all are, with our futures ), I’d say this time is different.  This time the crash is real and unavoidable.  If the Fracking Bubble is almost over, that means the last engine that pulled our economy the last decade is out of steam.  If the PetroDollar is almost defeated, that means we lose 60% of our daily oil supply.

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We JUST used 90% of all the silver ever mined to make disposable items that were at most pennies of profit.  We JUST drew out the last of the oil from stripped wells to keep the SUV’s rolling to the shopping mall, buying products containing the last of the conventional oil in the form of plastics.  What is the basis for your optimism that we can pull something else out of our ass to kick the can down the road again?  I could very well be wrong.  There is or could be something to save us.  But do you want to gamble one way or another?

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I don’t really care all that much about the tariff wars unfolding.  I’m more concerned about the exponential dollar dump with the end of the PetroDollar.  Then ALL imported products go way up in price to infinity.  But right now, not as long-ish term like our oil control, there is the whole mess with stiff pushback in Europe against the European Union.  It seems the least of the issues is that some countries don’t actually see fuzzy dark foreigners as their salvation.  The bigger issues involve money.  As usual.  And how much upset can they stand over there, over money, before those dumbass bankers with as little as ONE FRIGGIN PERCENT in assets to cover their derivatives positions ignite a Lehman’s Moment?

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Who is going to be the new Lehman’s bank, that starts the domino dump for the world economy?  Hell, I’ve made fun of the European economy being used as a distraction, as we kept hearing “country X is about to crash” time after time.  Europe isn’t even the main concern.  They are just the spark that could start the explosion.  And that spark could start anywhere, even back here in New York.  And once the economy takes a Big Squishy, not only does mining stop ( unless it is a national rather than banker controlled asset, AND they have local logistics to mine and ship ), all those silver futures with no backing implode.  That is a whole other kettle of fish.

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The silver now local and already mined, that is the silver on hand.  So don’t delude yourself silver will be the new currency.  We are at a point the Romans were, where all of the empires silver was shipped over to China in trade.  They lost most of their silver, not to return for many generations.  Well, we just did the same damn thing.  Our silver went to China and was turned into disposable consumer items.  Before, silver traded for silk still saw the silver survive, even if it took centuries to make its way back to Europe.  Now, what silver?

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If you get rid of silver now, there will not be a replacement for it.  I would horde silver as if it were gold, not “merely just silver”.  We pissed away our silver thinking it was forever replaceable, just as the Romans did, until it wasn’t.  So, forget all that crap in post-apocalypse fiction about the junk silver currency.  Barter ONLY.  Silver will be far too precious and rare.  NOT abundant as it was since Christopher Columbus.  I stopped buying silver at $8 an ounce, more than ten years ago.  I concentrated on beans and bullets and bunkers.  Now, I’m thinking $20 silver right now is a far better deal than silver was at $5 fifteen years ago.  I could be wrong.  I doubt it.

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