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Was Silver a Modern Tulip Mania? Has the Bull Busted Out? “History Repeats the Old Conceits” – Elvis Costello
Friday, May 27, 2011 16:52
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Nearly five centuries ago, Europeans were caught up in a frenzy for tulips. Prices surged ever higher on hopes that the flowers could be re-sold at an even higher price. The mania crashed when a glut of tulips hit the market. And we’ve been playing the same game ever since.
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Gilded lillies – or Silver plated tulips?
Every decade or so, hordes of investors lock on to one asset, pushing its price well beyond any sort of rational value. Tech stocks in 1999 and home prices in 2006 are classic examples.
And in the spring of 2011, it happened again.
CLICK HERE FOR A CANNY TAKE ON THE SOARING PRICE OF SILVER
