3 Precious Metal Truths And Their Implications
According to Rick Mills, commodity investors should take account of 3 truths if they are to take advantage of current opportunities.
by Richard (Rick) Mills, MineWeb.com
There are three precious metal and commodity truths not yet universally recognized:
Gold and silver are money, are the only true money. Today what is called money – fiat – is not money, it’s credit brought into existence by a computer key stroke
For the last 13 years true wealth hasn’t been garnered from the accumulation of fiat money but from gold and silver, this will continue.
Gold has gone from an average of $284 to $1570.90 ($1570.90/$284 = 5.5x) since January 2000. During the same time frame silver has gone from an average of $4.95 to $28.62 ($28.62/$4.95 = 5.7x) per oz.
In January 2000 the gold/silver ratio was $284.32/$4.95 = 57.43
Today, the gold/silver ratio is 54.88.
2013-03-17 11:48:41
Source: http:///2013/03/3-precious-metal-truths-and-their-implications/
Source:
According to US Mint sales it should be more like 3.3/1.