Silver continues to be the most under-appreciated commodity on the planet. It still hasn't breached its record high of $49.45 from 1980, 42 years ago! As of writing, silver is steady at about $25 an ounce. Adjusted to inflation, if you bought an ounce of silver today, you'll be paying at year 1972 prices, no kidding!
Adjusting to inflation, $50 in 1980 is the equivalent of $169.80 or nice round number of $170 in today's (2021) dollars. If you can get your hands on an ounce of silver for less than $50, as is the case today, you'd be getting more than 2/3 off rebate when you really think about it.
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Since year 2000, silver has enjoyed a phenomenal run. While there have been many depressing ups and downs (mostly orchestrated by big banks), the truth is, despite their shenanigans, silver has risen a whopping 366.08% in the last 22 years, as shown in the list below, courtesy of www.kitco.com.
Brent Crude oil shot above $110 USD overnight, so expect pain at the pumps in coming days as the Russia / Ukraine debacle drags on, affecting commodity prices across the board. Bitcoin is up another 1.5% to $44,831. Gold is holding steady at $1,930 after rising more than $40 yesterday to $1,950 per ounce.
Incidentally, like silver, gold too has has a great run since year 2000 with an incredible near 574% increase. See below...
I got my gas bill in the mail last Friday and was shocked to find my heating costs more than doubled compared to the same month, last year. If your bill hasn't come in yet, brace yourself. You may be in for a price shock. I'm in Canada and we have plenty of natural gas but we're feeling the pinch like everyone else. Natural gas is up 2.91% overnight.
I recommend topping up your gas tanks today, folks. Tomorrow, it'll cost a little more and the day after that, it'll cost a little more. Rumor is that oil is going to $150 soon, on its way to $200 and beyond. I always knew we'd see this eventually with all the currency creation by central banks. It all has to go somewhere and we're finally seeing it in rising commodity prices. I don't think McMinimum wage will ever be able to keep up with inflation but I do eventually see hamburger flippers earning $24 an hour if all the McD's want to stay afloat. $25 hamburger anyone? Anyone???
Get your hands on some silver and gold (and crypto) before the prices become unaffordium and unobtainium!
Consider diversifying by adding precious metals to your portfolio!
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Check out some of my other posts...
Silver screams higher as NATO calls emergency meeting.
Canadian dollar to reach parity with USD?
Gold whipsawed after Russia / Ukraine invasion.
US debt hits $30 Trillion / Debt to GDP 135%
Coin toss: Hyper-inflation or hyper-deflation
Have we already reached peak gold?
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