By SD Contributor AGXIIK:
The tale of the silver boom ended badly for the Hunts when the Federal Reserve, Justice Department, Saudi kings and others with a real desire to smash the Hunt Brothers took after them with a vengeance. Jim Sinclair was part of the team that helped Volker dismantle the silver barons, restoring the US Dollar hegemony from the frightening specter of even worse currency debasement. Silver and gold went to sleep for another 30 years. The Petro Dollar system was preserved. That cost was in the billions.Today things are different. Or are they? The same economic tides are making precious metals a safe haven from the real perception of inflation and its harmful effects. The difference today is that silver is in a shortage with most of the silver production immediately absorbed into commercial and investment uses, leaving many asking for their precious metals and not getting delivery in short order, or if at all. Most of us can acquire silver and gold in small amounts. Gold has no ready stocks available for sale. Every ounce, pound or ton is spoken for, sometimes several times over given the theft occurring from allocated accounts and vaults emptied by smart money investors like China and Russia taking delivery from bullion banks and their badly placed paper bets.
Unlike the 1970s when gold and silver price spikes were stimulated by fear of inflation erosion despite massive above ground supplies, all precious metals today are in short supply, even to the point where small hot wars are being fought for its possession. This is not the era of the Hunt Brothers chasing an enormous bet on silver in hopes of making a few billion in profits, riding the public’s desire to save themselves from currency devaluation.
Our present era is a Cold War being fought over these most important commodities.