Why People are Buying Silver Now! (At $40-50/oz., it's better than all the alternatives!) By: Jason Hommel, Silver Stock Report

-- Posted 2 May, 2011


Money in US banks stands at about $18 trillion.  If 1% of that money were to be spent on silver, it would be $180,000 million.  But with only 700 million new oz. of silver mined each year, that implies a price of $257/oz. for silver, which would leave no silver left over for industry or the rest of the world.  Since industry and the rest of the world will need silver, too, this implies that silver prices will hit about $500 oz. or more by the time a mere 1% of money in the US tries to buy silver to protect itself from inflation.


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