Silver Madness

Eric Sprott told MineWeb’s Geoff Candy on April 5 that he expects the silver price to “treble that of gold over the next three to five years.”

Sprott anticipates gold’s move higher is far from over, offering a short-term target for the yellow metal of another nearly 35% rise from present levels of approximately $1,470.

“I think gold will continue to move on here,” he told King World News a day earlier on April 4. “We’ve certainly opined before that it will go north of $2,000 and the wind is at our back because the printing is increasing at a very fast pace here.”

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Sprott said. “If you ask me in the three to five year time frame, obviously I think it’s going to go north of $100 simply because we’ll get that 16:1 ratio.” Gold, he said, is going a lot higher (which implies above $2000)

“Silver is the investment of this decade as gold was the investment of the last decade.  So we’re sitting back waiting for things to evolve here,” Sprott concluded.

[SS says so he thinks Silver is going to hit 100 - Why did he not predict / project this when Silver hit 8 in 2008/09?]

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Even at three-decade highs near $40 an ounce, Sprott says silver will rise significantly from here.

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I just find it weird that nobody stood up and predicted that Silver would touch $40 or $100 or $150 when it was at $8 in late 2008/early 2009.

This is just a clear cut and simple example of the human mind extrapolating the past into the future using a straight line.

Just because something went from 8 to 40 ie 5x does not mean it will go from 40 to 160 in the coming 3 - 5 years.

Silver bulls today number at more than 90%.

It is time to get out of Silver.

It may or may not touch $50 - I dont know but now is definitely not the time to buy for the medium to long term.

SILVER IS A BUBBLE.

I hear housewives in Indian cities trade Silver.

When you hear such things - it is a clear signal that the time is up.

Let talk in a few weeks when we are on the way down in Silver.