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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: Gene Veinotte who wrote (715)	2/13/1998 5:06:00 PM
From: TD	Read Replies (2) \| Respond to of 8010

Nice article, was taught not to believe everything read. This may be true not saying it is not however, not all will act at once, how does the author know why $7 is the magic numbers when(implied all) Indians will want to sell. This is a good argument for the bearish case, but just think if you came here from Mars and looked at these two metals people on this planet like to keep, you would see that there is 4 Billion ounces of gold and only 1 billion ounces of silver making silver 4 times more rare than gold. This is above ground only, we know 16 times more silver is mined than gold on an ounce for ounce basis, that is not the point. The point is what is available above ground is 1/4 the amount of gold and all mining is used up with an additional amount coming from the above ground stocks. So as a Martian it would look that silver is still a better buy in terms of greenbacks would it not? Just some thoughts to ponder.. BTW maybe some Americans will want silver if they become educated enough to the potential problems with year Y2K.

To: Gene Veinotte who wrote (715)	2/16/1998 5:36:00 AM
From: Aurum	Read Replies (2) \| Respond to of 8010

Hogwash! the rupee took a major tumble a couple of months ago - so the price of silver in rupee terms went up considerably. If we were going to see any major dumping from India it would have occurred before now. The increase from US$6 to US$7 is not significant compared to the drop in the value of the rupee. Also, a lot of the silver is owned by relatively poor people. To them the few ounces of silver they own are only for use in emergencies - rather than for trading. The rich do own large quantities of silver - but I understand that most of this is kept secret from the government, and was often smuggled into India. How difficult is it going to be to smuggle 100,000 tons out? The reference to 1.7 tons being dishoarded in a three day period is laughable - that's 6.2 million ounces a year! It would need to come out at one hundred times that rate to keep the price down.