$1,000 For One Ounce of Silver? …Don’t Laugh! — Andy Hoffman

Andy Hoffman from Miles Franklin joins us to for a clarion call about the true, real world value of PHYSICAL SILVER. With the market value of all available Bitcoins now more than $5 BILLION, compared to around $21 Billion for all investable PHYSICAL silver, Andy says “What we’re seeing is a speculative mania.”

Andy reminds us that the Chinese are fed up, and have now publicly drawn a line in the sand AGAINST the US Dollar, “The Chinese just made this incredible announcement that they no longer want to accumulate currency reserves. That is probably the most bullish thing I have heard for precious metals in my twelve years of watching this. They have $3.6 TRILLION of currency reserves and they want OUT. There’s only $100 billion of gold mined in a single year, worldwide. And $15 Billion of silver. The point is that gold and silver are way undervalued compared to the amount of buying that’s going to be coming into them.

Back to Bitcoin, I ask Andy, if $1,000 USD is possible for a single Bitcoin, what is one ounce of physical silver really worth? Andy says, “Alternative currencies are a viable concept… but Bitcoin doesn’t have intrinsic value, whereas silver for instance is the second most used commodity on earth, in fact three quarters of ALL production is used for things other than investment.

As for concrete value for an ounce of physical silver, Hoffman’s take is this: “My long standing price target, if it weren’t rigged, I would say it should be $1,000 – $4,000 an ounce right now. And that’s simply using the math of how much money the government SAYS has been printed and how much gold they SAY they have in reserve. And of course they have printed a lot more than they say and they have a lot less gold than they say.



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  • Tucker

    Ho hum. I’ve been hearing all these predictions about $3k gold and $1k silver for over a decade, and all I see happening – is that both metals are currently mired within a tightly controlled range of fluctuation, that neither of them seem to be able to break free from.

    This sounds like more hype coming from precious metal dealers to lure in more buyers – by making grossly exaggerated predictions that these guys know the string pullers behind the curtain are never going to allow these metals to reach.

    Minus those string pullers behind the curtain, could these predictions materialize? I’d say, probably yes.

    • atmajnana

      The “string pullers” are being disconnected from their strings. The BRICS alliance, consisting of some 160 (and growing) nations are trading with precious metals and other commodities that will destroy worthless fiat currencies. Then there is the industrial use of silver, some 30,000+ industrial uses with silver to be the first element on the periodic table to become extinct by 2020, according to some.

    • unbubbleslayr

      Except it has to hit bottom first before it can start the next cycle up. Why do people forget that?

  • George

    What most people do not understand, and I refer to the people who say ” I’ve heard that stuff for years and years now and it hasn’t happened yet”.
    The majority of people do not understand very much, if any, about the history of money and currency.

    The reason that the price of Gold and Silver are low and seem to be falling is due from the same tactics and wave of the hand illusion as fractional reserve banking.
    The bankers use fractional reserve banking to issue currency yet only hold 10% or less of what they actual have, and can lend out 9 times more (today it’s more like 100) than they actual have and they collect interest on money that never existed, created out of thin air.

    They now apply those same tactics to Gold and Silver in the ETF’s by issuing pieces of paper (Gold or Silver Certificates) which are only representative of an amount of metal, but again as in banking, the metal they are issuing paper certificates for does not exist.
    Then, the LBMA sets the price by using all the issued paper certificates plus all the actual metal, which distorts the price of the metals because the actual metals which hold value are far less in physical form than paper. Like musical chairs, when the music stops there are going to be MILLIONS of people with empty hands, no money, and no metals. Only when that charade stops, then and only then will the metals catch up to reality. When that happens, and it has ALWAYS 100% of the time all throughout history happened, gold and silver will revert back to the only REAL MONEY. Paper Certificates will be settled in worthless paper fiat, or you will get nothing back at all. So, if you hold paper which is worthless and an empty promise to deliver at a later date, you can rest assured that you have exactly what you have in your hand. NOTHING.

    Silver has throughout history held a 16 -1 ratio, and there were several times that 1 ounce of Gold equaled the Dow.
    Those times will return, for natural markets have ALWAYS outlasted the corruption and manipulation of Central Planners.

    Our REAL problem is that the people in charge will burn this entire nation to the ground before they will EVER give up the control of issuing the currency and controlling the government, the nation, and all the money!

  • Jammer

    Sorry to be the stick in the mud but the real wealth will be in lead, brass and powder in the end for this will bring to an end the dispute.