Ive ridden three silver bubbles since the Hunt’s tried to corner the market I going to sit this one out...
Ive ridden three silver bubbles since the Hunt’s tried to corner the market I going to sit this one out...
My brother has done exactly the same. Not that many people remember the Hunt’s shenanigans.
...I’m still holding bags of junk coins bought during Jimmy Carter...and some gold coins bought direct from the Mint....maybe it’s time to unload.
....I wonder if you’re thinking of the Bass brothers back in those days...they almost cornered the silver market... their defense was “It’s not our fault....we’re big buyers...we disrupt any market we buy into”...
....those were colorful times back then...traveling buyers would take a room at the Holiday Inn and start paying spot cash for family heirloom sterling...lots of nice pieces got melted down...I look for history to repeat itself on that score.
I would recommend reading the book “the Power Of Gold, the History of an Obsession”. You will learn that the struggle of governments to maintain a constant ratio between the prices of the two has been a problem pretty much for ever.
You will also see that the present activity might very well not be a bubble, but a reversion to the historical norm. Your time line is less than fifty years but a time line of hundreds or even thousands of years belies that reasoning. I believe our casting out the gold and silver standard is a failed experiment. The world is slowly returning to a precious metallic standard.
The book:
http://www.amazon.com/Power-Gold-History-Obsession/dp/0471003786
One other truly neat fact fro0m the book. There was a trade between the Mediterranean African cities and the Central African cities. They carried salt into the interior and traded it for gold on a one to one basis. The caravans were bullocks. There was a earth shattering innovation that forever changed the trade. Camel caravans were invented. The camel traveled faster and further than the oxen. The gold trade was revolutionized