JWR::
Your repeated bullish calls on silver have been dead wrong. Do you plan
on
apologizing to your readers? - Jim G.
Jim:
An apology for what? For making people money? You aren't looking at the big
picture if you are only looking at the past few months. If you had invested
in silver back in February of 2001 when
I went on record and accurately called the
bottom
of the silver market, then you would have more than
doubled your
money, even with the recent sag in the market. I made that call within 36
cents of the absolute bottom of the
market. I
was a few months early,
but consider that this was at the tail end of a 20 year-long dreadful
bear market in
silver. And even if you had bought silver when I first started SurvivalBlog
in early September of 2005 (when spot silver was roughly
$7
per ounce), then you'd still be substantially ahead. Spot
silver is currently just over $10 per ounce, and in recent weeks has
been over $13 per ounce. (Since it is a "thin" market, it is always volatile.)
I have never recommended buying precious metals at interim high points. You
should buy at interim lows (so-called "dip" weeks.) I'm
also an advocate of dollar
cost averaging (buying in increments), on successive dip weeks. If you
bought all of your silver at an interim high point (such as in
March of 2008) then shame on you, not me!
In my estimation, the current dip in the silver market is a pause in what
is otherwise still a secular bull market. If you sell your
silver now (at a loss), then you'll probably be crying about
it
in a
couple
of years,
when
inflation
kicks in, in earnest. In my opinion the current dip is a good buying
opportunity.
OBTW, my current recommendation is that after buying barter silver for your family ($1,000 face value per family member in pre-1965 dimes, quarters, or half dollars), that you then invest anything more in gold rather than silver. In the coming depression gold is likely to outperform silver, since gold is perceived as a monetary safe haven, whereas silver is seen as more of an industrial metal. Both will do well versus nearly any dollar-denominated investments, but of the two, gold will likely gain more than silver.
