Yes Dave since 1995. But our number of subscribers has dropped dramatically since those days. We now have a bit more than a hundred. Some of them have achieved the status of lifetime subscribers as they took profit of some of the offers we made available when the times we very hard.
Many gold newsletters writers have expand their coverage in the past several years (to include high tecks, bio techs or environmental stocks) to keep their subscriber base happy. We have not. We are strictly interested in talking about gold and silver, and to a smaller extent base metals.
We haven't said anything to our subscribers since our most recent issue published on Dec 16th where we review our favorite selections. On silver and gold, we remained cautious as we were not yet convinced that the bottoms are in place. But, now with silver closing above $4.50, it is getting interesting.
CD, honestly I think silver will eventually go much higher. I don't know when. The reality is that we simply do not know how much silver is available at a specific price. Obviously, there is not a lot available at $4 and below. But what about $5, $7 or $10.00. There are billions of ounces in Asia in the form of silverware. We simply do not know at what prices these ounces will be come available.
On the demand side, silver is such a small market that it could be cornered any time.
If silver went to $50 in the 80's when we had a billion ounces in inventory, we could do a lot more today. Just wake up that demand one way or another.
Silver is very precious metal. There is only 8 ounces of silver for each ounce of gold in the earth crust. In terms of the gold/silver exchange rates, the historical ratio is 16. That gives you an idea how silver could be priced.
Is there a squeeze developping, I don't know. Maybe. Were there really hundred millions of ounces borrowed and sold short on the market, I don't know. Certainly there has been some forward sales and there will be dozen of millions ounces that will need to be purchased on the market. But since we don't know the numbers, it is very hard to predict where this is going. How mush unknown silver inventories is there available in private hands. We do not know.
In other words, instead of trying to predict metal prices (something I've tried many times in the last 5 years), I tried to focus on companies assets.
Gut feeling ? $5.50-$6 in 2002. Not a squeeze, but a good market. If we get a squeeze, well that will be great, because all silver plays will go through the roof. |
