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Sell Offs Make You Think

By: Israel Friedman

-- Posted 3 July, 2007 | | Discuss This Article - Comments:

My good friend, Mr. Butler, thought it was a good time for me to write something. Since we talk to each other about silver so much, I am happy to have the honor of having my thoughts recorded, and I hope I donít steer anyone wrong with my opinions.

If you study silver like I do every day, the recent price drop affects you in different ways. It makes you afraid of losing money, or angry if you believe in manipulation. For some people, it makes them happy they are in a position to buy more. A sudden sell off like this last one also makes you think and re-evaluate. I wonder if the original reasons I bought silver are still okay. That is good because things can change. In fact, I think things have changed in silver. Believe it or not, I think the silver story has gotten better than before.

I agree with what Mr. Butler writes about the manipulation. I think the recent sell-off proves it more. Nothing changed in silver to account for such a sharp decline. Itís only the questionable dealings on the COMEX. But, Mr. Butler writes about the manipulation and I want to talk about something else. I want to talk about the opportunity of a lifetime that silver represents. When I look at the facts in silver, I reach a conclusion on price that many would consider ridiculous. Mr. Butler told me not to print the prices I discuss with him in private. He says that I will appear too extreme and lose credibility. He says he doesnít necessarily disagree; just that the numbers are so high that people will laugh and lose the real message. I tell him that extreme projections can come true, and this silver projection can make regular people rich.

The best way to analyze silver is to compare it to something else, like gold. They have been used and compared for thousands of years. People say how gold is no one elseís liability, has been money for thousands of years and cannot be created at will. The same things can be said about silver. Central banks own tremendous amounts of gold and hardly any silver anymore.

Silver has come to be used so much by industry over the past 50 or 60 years that most of the inventories in silver have been used up. Now we have more gold above ground than we have silver above ground. Silver is more rare than gold. There are 5 billion ounces of gold above ground and only 1 billion ounces of known silver. We have over 62 years of gold production above ground. In silver, we have less than two years of mining production.

The rarer and more industrially needed item should be $650 and the more plentiful and less used item should be $13. I say that silver must go at least into the high triple digits to make a balance between the real inventory and the price. Silver will be $50 to $100, but it will be a mistake to think the party is over then.

So few believe that silver can go to such high numbers that it creates an opportunity for those who buy silver to become rich. In my opinion, thatís without taking big chances. Do you think there would be such an opportunity if everyone knew of it? All you need is a good silver position and to allow enough time for the fundamentals to work and for enough people to learn about silver.

You donít have to put all your money into silver, just enough. And you must put it into the right kind of silver. You must have real silver in your own possession or silver stored for you in the right way. If you want to speculate on margin, then speculate. But donít pretend you are making a real silver investment for the long term. And the long term is where the big money will be made. I hope that this article will help those holding silver to feel good about their holdings and helps to convince those not holding silver to get some.

-- Posted 3 July, 2007 | | Discuss This Article - Comments:

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