| Letters
to the editor from this week's Chronicle Redneck Review! No. 324 - 7/11/2021 Temporary interruption! This week's RNR strays away from the planned topic intended as a follow up on last week's #323 because of info obtained in the last week from two impressive newsletters that have been coming my way for decades! The first, unnamed here, but info given to any reader who contacts me about an interest in it, had the best reasons why silver is set to explode that I have ever seen in one single issue! Seven full pages of reasons why ANYONE wanting another protection against the inflation that is coming will consider silver! Included are reasons why silver for most people is better than gold! I submit just a couple of direct quotes from this letter, which only recently has paid much intention to suggesting silver as an investment! P. 4. "Well-regarded analysts are calling for silver to get as high as $1000 someday." (About $26 today) Why is this believable? The source continues to list dozens of critical areas where silver (In short supply currently) is needed in industry - from electric cars to medical uses, solar panels, cell phones, and on and on! Thus, believable is a second quote from the same news letter: Because of current shortage, "Silver would have to get up to around $250/oz just to equal its1980 peak in real terms." (Interested in this source? See bottom line!) From a different source, is a direct quote taken from Jim Cook's (Early July, 2021) MARKET UPDATE, the best single source of information on silver and gold that I have seen in the past several decades! "Sometimes the greatest investment stories go unrecognized... most investors never give a second thought to...silver....This despite the claims of some experts that silver is grossly under valued.... Theodore Butler... claims that silver is the profit opportunity of a lifetime. He suggests that silver could go up ten times or more from here. Mr. Butler bases his opinion on a number of bullish factors that apply only to silver... A concentrated short position...of 4 to 8 large banks ... have held the price of silver to artificially low levels for years. This shorting has been very profitable for these big short sellers. Only recently were the tables turned on them. Prices rose strongly... and these short sellers were suddenly out $10 billion. If prices continue to rise... the short squeeze... could crush these big shorts. "This vulnerable short position has attracted the attention of recently famous short squeezers at REDDIT/Wall Street Silver. These 'silver apes' they call themselves... now number 120,000 ... have been buying large quantities of silver bars, coins, and silver exchange traded funds. Their goal is to drive the price of silver up... where the big short sellers must buy back the silver they have sold short in order to stem their losses. That would put the price of silver into the stratosphere. Mr. Butler, the world's foremost silver expert... points to numerous additional reasons silver is poised to dramatically break out to the upside. "First of all, silver is an industrial metal and a superior conductor of electricity. It's used in virtually everything requiring electricity, such as cell phones, computers, solar panels, .... Silver is the only commodity, says Mr. Butler, with a dual demand profile... It has investment demand on top of industrial demand. Even a small increase in investment demand can cause a shortage... inevitable says Mr.Butler, which will cause industrial users to hoard and stockpile silver no matter what the cost... And worsening inflation would likely lead to more aggressive accumulations of silver by investors. Currently, delays in filling orders... have led to premiums on coins over their bullion value. Historically, the ratio of silver's price to gold has been 16 to 1, but currently is now 68 to 1" This historically low price "has led to greater usage by industry, while at the same... has discouraged construction of new silver mines and mined out deposits." (Call Bill Collins at Investment Rarities, 651-216-2494 for more information!) Jake Wren |
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