silver to be extinct by 2020, silver shortages

[Large Sarge]

http://silver-shortage.blogspot.com/

[Twisted Titan]

What a bunch of hogwash

Silver will never be extinct

The only thing that dying off is the weak hands that currently sell at these grossly deflated prices.

You will soon be left with those who understand the enormity of the situation and the explosive amount of power the wield by being in physicall possesion.

[chad]

it won't be extinct if you have the ability to pony up $400 for an ounce of it.

[madfranks]

In 1480 the price of one ounce of Silver was equal to one ounce of Gold

Is this true? I've never heard that before.

[mamboni]

Is this true? I've never heard that before.

Yes, in pre-New World discoveries Spain silver was so valuable that the richest man in Europe was a Spaniard named Ponce de Argentos. Ponce had a large silver horde. Legend has it that he would rub silver coins under his armpits and then wedge a coin in his butt crack to ward off body odor. In the day, no one could bath more often than once per month, so everyone was stinky. Except of course for Ponce de Argentos. There was an old saying from the day: "Be a Poncer, not a stinker!"

After Columbus' discovery and the subsequent flood of New World silver, Ponce's silver was devalued below gold and he was no longer the richest man in Spain.

[madfranks]

^^^ That was hilarious. You sir, are truly a skillful wordsmith.

[JohnQPublic]

Another interesting story (told less craftily than the doc I am sure) is that the Spaniards discovered platinum and considered it less precious than silver. It was heavy, it was less ductile, etc., but it was purdy and shiny. Silver is plata in spanish. They called platinum platina (or little silver).

Also, in French the word for silver is argent.

[chad]

when the russians found palladium , they didn't know what to do with it, and they used it for shotgun pellets. true story.

[Awoke]

Is this true? I've never heard that before.


Yes, in pre-New World discoveries Spain silver was so valuable that the richest man in Europe was a Spaniard named Ponce de Argentos. Ponce had a large silver horde. Legend has it that he would rub silver coins under his armpits and then wedge a coin in his butt crack to ward off body odor. In the day, no one could bath more often than once per month, so everyone was stinky. Except of course for Ponce de Argentos. There was an old saying from the day: "Be a Poncer, not a stinker!"

After Columbus' discovery and the subsequent flood of New World silver, Ponce's silver was devalued below gold and he was no longer the richest man in Spain.

Uhh.... So, is it true? Anyone?

[mamboni]

Uhh.... So, is it true? Anyone?

No.

739

[Awoke]

Thanks. So how do I read that chart?
I don't see a legend. Sorry. I'm a chart-noob.

[mamboni]

Thanks. So how do I read that chart?
I don't see a legend. Sorry. I'm a chart-noob.

The yellow plot is the gold/silver price ratio. It's nadir was about 14. So, at best, silver was priced 1/14 that of gold in the 1400s. As an aside, I read somewhere that silver was priced higher than gold during a period of ancient Egypt.

[Awoke]

OK, I am useless with this stuff. The blue line says it is the price if silver in 1998, and it is mucho higho in 1477 with an alltime high of $806.

So if the gold line is the RATIO, then I suppose if the average ratio was 14:1, the POG would have been around $11,284 in 1998 dollars? Is that right?

[mamboni]

OK, I am useless with this stuff. The blue line says it is the price if silver in 1998, and it is mucho higho in 1477 with an alltime high of $806.

So if the gold line is the RATIO, then I suppose if the average ratio was 14:1, the POG would have been around $11,284 in 1998 dollars? Is that right?

Yeah, that's what the plot is insinuating; though I don't know how they arrived at those gold prices. Now that you point this out, the entire plot looks suspect.

[Awoke]

Sorry to be a prick.

lol