In an article on SovereignMan.com, Simon Black explained the presentation he heard when the case was made for silver prices going as high as $136/oz. The speech started off as many do, “Without silver our entire society would go back to the stone age.”
What the speaker was referring to what all of the incredible uses of silver in modern technology. The precious metal is used in all computers, cell phones and tablets, and is also used in medical equipment. As the Silver Institute points out,
“The FDA approved a breathing tube with a fine coating of silver, after it was established that it reduced the risk of ventilator-associated pneumonia. And that’s just one example of the many roles silver plays in medicine today. It is also added to bandages and wound-dressings, catheters and other medical instruments and is a key part of the technology behind X-rays.”
In his article Black explains that gold and SILVER have been ideal for the use as money for centuries.
“Like gold, silver was an ancient form of money. And for good reason.
Out of the 118 known elements that exist on the periodic table, gold and silver share certain chemical properties that made them ideal as a medium of exchange to our ancestors.
Gold and silver are solid at normal temperatures (as opposed to Helium). They’re not radioactive (like Plutonium).
They’re not explosive when they come into contact with water (like Cesium), nor do they rust when they get wet (like Iron).”
Based on the composition of the Earth, silver out supplies gold by a ratio of 21:1, so in theory, that would be the ideal ratio for the two. Even so, the current prices of gold and silver (gold @ $1226.40 and silver @ $16.25) silver should be much more valuable.
This isn’t even a far fetch thing that only folks like ZeroHedge and SilverSeek are talking about. On April 1st Barron’s published an article stating that silver SHOULD (not could or might) move higher.
“Silver futures have risen 14% since the start of the year, on the back of a 16% gain in 2016, their best annual performance since 2010. The precious metal has outperformed gold, which is up 8% this year; silver tends to track gold’s price direction, though with bigger swings.”
What is keep the price of silver down today is the excess printing of “paper silver”. Paper silver is silver certificates, which in many cases are NOT actually backed by any metal. Paper silver is pushing the price of the actual metal down, but once the certificates are called on, the jig is up. Silver will shoot up in price!