By: Richard Daughty, The Mogambo Guru
2 March, 2011
I thought I had heard all the good arguments to buy silver, mostly from me asking myself two important questions.
First, “Why am I not buying silver when it is so obviously going to go much, much higher in price because of the absurd Federal Reserve insanely creating so much money, which causes inflation, which always makes the prices of precious metals soar?”
A lot of the “soaring prices,” a phrase that rings with a certain pleasant musical quality to investors everywhere, will come as other, loss-ridden investors frantically selling out of stocks, bonds, and real estate to stem their mounting losses plow headlong into gold and silver which will, by that time, be soaring in price, thus attracting the nervous investor, and the greedy investor, and the performance-driven investor, all jamming their trillions and trillions of dollars into a silver market that produces a lousy 900 billion ounces of silver per year, and uses most of it up just to keep industrial things going!
My second question is always, “Is everyone else a moron?” I ask that because, right now, there are so few buyers of silver when silver’s price is a lousy $30 an ounce, which is Too, Too Low (TTL) by a Long, Long Shot (LLS), which is caused by corrupt, manipulative dealings in and around the commodities futures market.
To test the hypothesis “Is everyone else a moron?” whenever I am out and about, running errands or something, I always end up in a line of some kind. So, to pass the time, I ask the nearest people in line with me, “Hey! Are you buying silver to capitalize on the horrific inflation that is being caused by the satanic Federal Reserve creating so much money, or are you a moron?”
Like the other day when, at the bank, I was in a line. So I asked my Mogambo Silver Poll (MSP) question of the others similarly idled. And being a modern, multi-tasking pollster kind of guy, I also ask follow-up questions about other topics, too, like, “If you are, indeed, a moron, which would explain why you are not buying silver, what are the chances that your children are morons, too? Do you have a photo of them so I can see if your stupidity shows up in the faces of your children, sort of a ‘Portrait of Dorian Gray’ kind of thing?”
I thought at least ONE of them would be delighted with my reference to the famous book by Oscar Wilde, showing, as it does, a certain erudition and culture that allows me to look down with disdain on those of lesser station, especially when proof of their incompetence is made so miserably manifest by their not buying silver.
And in speaking of “buying silver as an indicator of intelligence,” the famous Eric Sprott’s latest essay is titled “Asian demand for physical gold and silver is akin to a tsunami.”
He says, “In 2005, the Chinese exported just over 100 million oz. of silver. In 2010, they imported just over 120 million oz.”
I had to pause as I mentally tried to compute the difference between exporting 100 million ounces (a negative number) and importing 120 million ounces (a positive number).
Perhaps growing impatient as I struggled with the problem, he graciously supplies the answer, which is that it’s “a swing of 200 million+ oz. in a market that supplied a total of 889 million oz. in 2009 – a truly tectonic shift in demand!”
If it were I writing that, I would have gone on to say something like, “So start buying gold and silver with both hands, you lowlife morons!”
Full article HERE
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