Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Silver Market Update

Commodities / Gold & Silver 2009 Jun 26, 2009 - 07:53 AM GMT

By: David_Morgan

Commodities

Best Financial Markets Analysis ArticleThe following is an excerpt from the June issue of The Morgan Report. Although I recently wrote about the silver as money issue, many precious metals investors are rather under informed about some aspects of the silver market. Our readers have been kept up to date about the thrust for getting Mexico and other Latin countries to use silver along with their paper currencies.


Most of you know something that has hardly had any mention in the mainstream press at all, and this is the valiant effort of Hugo Salinas Price to work for the reinstitution of silver into the monetary system of Mexico. Mr. Price is trying to bring silver back into circulation, in parallel with paper and digital money, in Mexico; see www.plata.com.mx. He has several articles written in Spanish, many translated into English. His latest effort was defeated, but Hugo assured me that the silver cause has more friends than ever and some of these will be Diputados, or Representatives as they are known in the U.S.  So the battle will go on.

This is a memo I recently received from Hugo.

Dear friends -

Just to let you know that my high hopes for monetization of the silver ounce have been dashed due to various factors in conflict in the Lower House. The Left is angry with TV Azteca, and the Silver Bill was perceived as being actually a TV Azteca legislative project. So, thumbs down!

I am going to stand-by till September, when a new and perhaps more amenable Legislature is installed after elections coming up soon.

We have good support in the Senate, which will wait till September for further possible collaboration with the Lower House "Diputados Federales".

Sorry for the bad news, but that's the way it is. Who knows what further disasters we may see in the world financial stage, from here to September?

With best regards,

Hugo


Later, Hugo sent this…

I believe that the only hope for our civilization is to begin by silver, which is “the people’s money”. The tremendous obstacles which our Central Bank has offered to this project, [are] based on the fact that silver is outside the scope of banking. That is the only way we are going to save our civilization - by placing a limit on banks, a limit which is not a limit decreed by a law, but by the way in which people will strongly desire to have this money in their own possession, and not deposited in banks. This will checkmate the Keynesians.

Here begins the limitation of the scope of banking, which today owns the world. Money as something independent of banks, existing on its own.

It is our view that 2009 marks a watershed year for the precious metals, because the mainstream propaganda that gold and silver are archaic relics is giving way to the reality that both gold and silver are the new wealth for the new standard of living. In other words the general population will begin to wake up, and once a larger money flow starts into this market it will cause some problems for the latecomers, as the amount of paper debt that can be replaced by gold and silver is very small, relative to the amount of paper in existence. We may see various governments enact some type of tax or reporting on precious metals transactions. As your publisher learned recently, some country-to-country travel now requires reporting of any amount of precious metals moving between some borders.

Our view so far has been that the precious metals may not have a big run to the upside during the summer months and we expect the precious metals market will be kept in a wide trading range by the large traders. The other factor in our thinking is that, due to pressure to keep their ability to buy the basic essentials, many people, who might otherwise want to enter into the precious metals markets, will be kept away by the commonly referred to deflationary forces. This is becoming a difficult call, because we do see a shift in attitude and new market participants coming in at this time. As always we will be watching price and volume data to keep you informed if the market proves that the next launch date for the precious metals is earlier than forecast.

It is an honor to be.

Sincerely,

David Morgan

Mr. Morgan has followed the silver market for more than thirty years. He wrote the book, Get the Skinny on Silver Investing. Much of his Web site, Silver-Investor.com, is devoted to education about the precious metals, it is both a free site and does have a members only section. To receive full access to The Morgan Report click the hyperlink.

Disclaimer: The opinions expressed above are not intended to be taken as investment advice. It is to be taken as opinion only and I encourage you to complete your own due diligence when making an investment decision.

David Morgan Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in