Chris DuaneUnconditionalFinance’s Elijah Johnson has released an interview with Chris Duane and BrotherJohnF discussing their outlook on silver.
The pair discuss why silver could be headed to $300-$500/oz before the massive secular bull market is exhausted, and whether silver will join gold in backing currencies in the aftermath of the collapse of the current global fiat system.

BrotherJohnF & Chris Duane round-table on silver below:

 

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  1. Just like last year, it will be a flop.  These 2 are getting more like Sinclair and manarino.  Everyone just think for yourself and wait til you see a confirmed reversal before buying.  I flew to Sc this week and visited a few shops.  All have plenty of stock but can’t sell at a loss.  Dont be fooled into the short supply story. I’m sure trolls will post comments saying it just isn’t true, but talking to dealers and brokers tell a different story.

  2. $260/oz would be a psychological barrier for the market.  That’s what the price of Gold was in August 2001 if I remember correctly.   Once the price of Silver hits $260/oz if it is allowed to trade freely then $260/oz would make Silver “the new Gold”.  I think a consolidation would occur at $260/oz.  I’m guessing just like anyone else.  

  3. @jiggysmb, my LCS told me that he has inventory he purchased back when Silver was in the upper $30′s & $40′s, which he will not sell until spot goes back up.  But if anecdotal evidence is acceptable here, I will say that I have never seen so many ‘out-of-stock’ items at the online PM relail sites as I am now seeing.
     
    Having said that, the truth lies somewhere in-between ‘no shortage’ and ‘supplies are completely wiped out.’ 

  4. I think there’s nothing to it but to do it, in terms of gold-back currency. It doesn’t take a worrld leading country to launch it as their only currency. Bitcoin got sufficient acceptance?
    Launch a properly thought out new currency out of gold, silver and copper. International, without need for backing, the coins ARE the currency. It will trade a certain percentage above fiat value, and designed to be too expensive to counterfeit. And even if it is counterfeitet, who cares? Check coins for their composition and weight, and remelt it into real currency.
    It starts going wrong with a currency when nominal value is introduced, and set well above melt value. That doesn’t work. You need to price things in new units. Units for gold, silver and copper each, so they are allowed to have dynamic supply/demand related value ratios.
    Go for grams. Easy to put in the coin/bar’s nominal value.
    Give the coins catchy names such as we had the ducat, sovereign, Hercule, etc. I have proposed to name them after good virtues. But they’d also have logical gram counts.
    Gold, 5-15-30-50 gram coins, 100-250-1000-5000-15000-30000 gram bars
    Silver, 5-10-20 gram coins, bars in weights as gold
    Copper, some practical weights. Or is nickel better?
    If you buy a new laptop, you have choice of 500x a 5 gram copper coin (off the top of my head, a half kilo in silver, or a 20 gram gold coin. Very clear. And computers / digital shop price tags can easily deal with it.

  5. Who are these people? What are their credentials? When have they ever been correct about anything related to gold and silver and the PM markets? Where is Chris Duane’s gold silver ratio at 1:1 call made last November? What makes these two think they are even remotely qualified to be out spouting their nonsense? Ego!!!! And best question: why does this website even give them a forum to be heard? who benefits from this sorg of gibberish being promoted by this website? 

  6. Once a silver ounce again equates to an average day’s Labor (a moving target, I stay mindful of) in banknote terms, a serious roadblock will be reached, because folks would have a REAL CHOICE of taking their wages in hard money again. The force that will drive the metals further still, will be accommodation to demand for hard wages as the realization spreads. THAT’s when the ‘premium’ will offset industrial waste that’s been eroding the volume of available silver for circulation over the past century.
     
    Even then, a platform for subdivision of silver will be necessary so it can be eagerly expended into trading for goods. Division down to 1/10th ounce size is, handily, the lowest reasonable limit. All things frozen in place, the prospect of 16 banknotes being the ‘minimum price’ on all goods is ludacris at best. That makes re-establishment of copper coin … indispensible … for re-forming the Honest Money scheme. Additionally, it will act as a flexible ‘buffer’ to ameliorate the full demand for silver while mining operations restore sufficient circulation … and … short term savings projects.

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