More reason to buy silver nowon July 15, 2011 at 21:06
The U.S. credit crisis is worsening, especially considering that the U.S. will default on outstanding U.S. sovereign debt if the country’s debt ceiling is not lifted by the 2nd of August this year. It is time to buy silver, physical silver that is, if you haven’t done so yet.
Whether the Democrats and Republicans come to a political agreement or not to lift the relevant debt ceiling before or by the 2nd of August, the U.S. is heading for disaster and will default at some stage or another with devastating global economic effects. Silver investors, especially the owners of physical silver, can expect to benefit both ways. This is why we advise investors to buy or acquire physical silver, especially at current silver price levels of around $38 per ounce. Silver is definitely undervalued at current price levels, especially considering the effects of silver market manipulation and the “paper gimmick.” In addition, it is no secret that physical silver, especially in the form of silver coins, is money and will be used as money again. The silver investor should also not lose track of the fact that physical silver is used in various applications, industrial and otherwise.
Physical silver will always have intrinsic value while fiat currency, especially in the form of non-redeemable paper notes and electronic currency, will always have little if any intrinsic or underlying value. In fact, all fiat currencies at some stage or another reach its intrinsic value of ZERO and can only be used in a debt-based currency system. This while physical silver can be used in a monetary system that is not debt-based, but based on honest weights and measures. It is no secret after all that the U.S. Dollar for one is fast losing its value, especially since the Fed has taken it upon themselves to create trillions of additional dollars through Quantitative Easing (QE) aka currency printing. In fact, since Obama’s inauguration as U.S. President, the U.S. Dollar has lost a massive 48% of its value. It is clear that the Fed is deliberately destroying the U.S. Dollar by setting the table for hyperinflation in the not so distant future.