Nobody Saves Their Pennies
Nor picks up a penny from the ground.
Silver is now officially gold's penny, with a ratio well over 100:1.
I've already commented in previous posts why silver no longer deserves its association as a precious metal or currency. After its fall in price, I see even less reason to own it especially with the silver miners trading at horrid lows. If you believe silver is going to $20, $50, or $200, why bother with the metal when you can buy miners that have much more leverage. Instead of buying $1,000 of silver coins, but $100 of a miner and put the rest of the cash in anything else. Your downside is less with roughly the equal upside.
There will be consequence from the policy's of the central banks around the world. There are several scenarios to prepare for.
One, for fun, is the new reserve currency of the world (if the dollar can be dethroned) will be the British Pound; however, they will have to abandon a silver standard.
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