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Silver: Will it Drop to $ 10/ounce?

- Peter Zihlmann -

I don't live in the US either, I live in Canada but do travel to the US at least a couple times a year for weeks at a time traveling through several states which allows me to get a good feel for how expensive things have become there as well as at home. Jim C is dreaming if he thinks that many items are only 10% above their 1964 levels. Homes are well above this 10% mark. Houses that sold for $11K or $12K in 1964 are well over $70K (even post bubble) which is no where near 10%. Basic food items like a loaf of bread even in Walmart is still above $1.50 which is ten times higher than it was in 1694. Milk, flour, peanut butter, tomatoes, you name it, all basic food stuffs are 10 to 50 times more expensive even when you shop at Jim C's favorite store Walmart.

I don't know where it is that Jim lives (except for that fantasy world in his head) that he quotes such low prices. He has expressed that he is a prepper so he may have squirreled away all sorts of items and possibly the last time he bought something (1979?) prices were that low. In the real world the rest of us live in we know that everything has gone up well beyond 200%.

I was alive in 1964 and recall what we used to pay for everything from apples to zucchini's.

Commented 3962 days ago

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Beginning of the headline :The bull market of the silver price started towards the end of 2001. On the way from $ 4.02 to the recent intraday all-time high of $ 48.42 (an increase of 1,104%), several significant corrections took place, the most severe one in 2008 when the silver price sank by 57% only to jump 441% to a new all-time high... Read More

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