$500 silver

[Large Sarge]

http://www.youtube.com/watch?v=6mTOxwVLjn0&feature=player_embedded#!

[Katmandu]

For those on a time budget, the juicy stuff starts at 22:30.

[undgrd]

http://www.youtube.com/watch?v=6mTOxwVLjn0

[osoab]

Let's see 50 first.

[Libertarian_Guard]

Let's see a rocket on the launch pad.

[Dogman]

Let's see a rocket on the launch pad. Now why would one want to shoot this rally down? I love to see my favorite metals (In hand) rise.

[osoab]

I just now looked at the embed vid. I only posted earlier for the title number. If I would have known this was from Gilbert Godfrey, I would have also added disregard the moron.

[mamboni]

From the standpoint of recorded history, we have been living during a comparatively brief and unique period where the price of silver is severely depressed. This period comprises roughly 130 years to date. The demonetization of silver really put a whammy on the silver price, depressing it to absurd levels down. Ironically, or perhaps not, silver evolved into the premier industrial metal during this same period and has been massively consumed - a unique and unprecedented circumstance for all of silver's long history. There is probably far less physical silver per capita today than anytime previous. Therefore, any monetization of silver today or tommorrow would require a valuation of silver higher by one to two orders of magnitude. So the $500 per ounce figure is hardly hyperbole. In fact, for centuries during the Roman era circa 100BC-200AD, a silver denarius (almost exactly the same silver weight as a US 90% silver dime) purchased 8-12 hours of manual labor. This equates today to a silver valuation approximating $1000 per troy ounce pure silver.