Are Silver Prices Going Up Or Down – Go to: History of Silver | History of Silver in the USA | Top 10 Silver Price Market Movers | Hunt Brothers Scapegoat | Biggest daily price rises and falls
Silver has served human beings as a store of value and daily transactional money for nearly all of recorded human history. While gold bullion remains the primary government central bank backing asset, silver bullion is increasingly becoming the backbone of many retail and high net worth investors given its current excellent fundamental investment and industrial drivers .
Are Silver Prices Going Up Or Down
Silver and gold, the two historical monetary precious metals, are the basis of the greatest economic development in the last five thousand years of written record.
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Since silver prices have always been less expensive than gold, silver has had a much more practical use case for small everyday transactions.
Nobel Prize-winning economist Milton Friedman stated that silver’s role as money throughout history is more extensive than gold’s. Silver has perhaps circulated as a medium of exchange on a historical transactional basis, more than perhaps any currency used by mankind.
As the failures of faulty human-designed coins increase. The speed of Internet communications should help more and more people around the world relearn what the most reliable historical sources of money have always been.
There’s a good reason why 1 out of every 5 ounces of #Gold ever mined is held by government central banks. Each “tulip” derived from the currency disappears over time. re: #BIS #MoneyFlower ➤https://t.co/A9QJnxQLMt pic.twitter.com/jn0ioeEHsN — James Anderson (@jameshenryand) January 17, 2018
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The first recorded account of the manipulation of the value of silver comes from the ancient Egyptians more than five thousand years ago. Egyptian pharaohs and temple priests prized gold and silver, often using them to beautify and help exercise authority over the lower classes.
Historians also point out that the first exchange rate of gold and silver came from Ancient Egypt. In year 3, 200 a. C., the law of Menes established that one piece of gold should be equivalent to two and a half pieces of silver, possibly the lowest gold-silver ratio historically recorded.
The Greek and Roman empires played an important role in the circulation of what is the most historic use of a silver coin: solid payment for the exchange of goods and services for many millennia.
Historically, whoever had the most gold made the rules and were the rulers at the time. Those with the most silver were often the leaders of the merchant class who expanded trade.
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Silver coins and silver bullion helped establish world trade and the globalization of goods beginning in the 1500s. back to Asia without dying, they used the seasonal trade wind currents to circulate silver and exotic foreign goods around the world.
4 chapters and an amazing read for fans of #Silver #Bullion history, how globalization was fueled by silver coinhttps://t.co/FBvUQcjzWL –@lcammarosa @Smaulgld h/t:https://t. co/0t7J6mnU77 https://t.co/ZWBodIireK pic.twitter.com/uGieALZEB5 — James Anderson (@jameshenryand) August 26, 2020
Undoubtedly, the price of silver has been suppressed since the Crime of 1873. The demonetization of silver produced a slow, multi-decade consolidation of the market that favored the elite eastern creditor classes over the expansionist and indebted western workers. The price of silver fell from $1.29 an ounce to an all-time low of just 25 cents an ounce during the Great Depression of 1933.
Once the US “temporarily repealed” foreign government trading partners from redeeming US gold reserves for US dollars, the USD USD became a full fiat currency by default, but remained dominant worldwide. In other words, the world has essentially had an absolute fiat monetary regime since August 15, 1971, and the fiat Federal Reserve note has been the dominant fiat reserve currency ever since.
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During the 1970s, the US experienced high inflation and stagflation of low economic growth similar to what we are experiencing today in the 2020s. The $USD fiat price of silver went from being priced at just under $2 oz to nearly $50 oz in the early 1980s.
Want more silver price history? Check out our Silver Price History page covering the daily price of silver since 1968.
The biggest ups and downs occurred primarily after COMEX gold futures trading began dominating gold and silver spot price discovery in 1975 and continued into 2022.
This silver spot price data also covers the entire monetary regime of the ongoing fiat currency era (1971-2021) following the failure of the last central gold price fixing cartel (London Gold Pool) due to the overwhelming demand for physical bullion from the free market
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There is a case to be made now for early 2022. The potential for a new run of physical silver and gold bullion could perhaps trigger another exponential meltdown in the face of currently suppressed silver and gold valuations.
The silver bull went from the post-global financial crisis silver low of $9 per ounce in early 2009 to the $50 per ounce silver reached in late April 2011. In the late 2010s, they caught short bullion of silver as both unsecured silver ETF entries and silver bullion. investment demand is squeezing available industrial silver supply levels.
This run came after JP Morgan recently inherited the silver trading desk from the bankrupt Bear Sterns in the spring of 2008 and many of its former traders. They had learned to game the price of silver through impersonation and other manipulative tactics.
The ongoing manipulations of silver and gold market prices since then are often considered accurate. Billions in government fines and private court settlements continue to illustrate the price-fixing cartels of commercial banks in the gold and silver derivatives markets, paying meager settlements after enjoying an apparently lawless decade that followed this massive price sell-off in 2011
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The greed and lack of regulatory prosecution by the CFTC or the US Department of Justice. Although the daily price data over time proved what was obvious to many at the time, the silver derivative price discovery markets were full of swing criminals, commercial bank traders, mainly in New York and the City of London, who often documented their illegalities in chat room writings and by placing e-trade fakes to break down price stops (and increase their bank bonuses in doing so).
$3.6 billion in just 1 waterfall, derivative driven price decline, circa 2011pic.twitter.com/Rx7Im1pq6g Even now in 2021, HFT “price discovery” chart painting in PM markets is still commonplace. The CFTC has guaranteed a free and fair market. https://t.co/EaDnjgjtJX – https://t.co/nrA3kAwaoB — James Anderson (@jameshenryand) July 22, 2021
Often, after a manic explosion in the price of a financial asset, it takes some time for the bear market despair phase to follow.
In the summer of 1982, silver found its downside around $5 an ounce, having been near $50 an ounce only about two years and a few months earlier.
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The rally that followed that June 1982 low for silver prices around $5 an ounce was followed by a big move in August and a series of rallies through the end of the silver trading year.
Having started a bear market that would last several decades, subsequent price rebounds in the early 1980s still saw a record price for silver, giving bulls the opportunity to take profits on short trades (days, weeks) and even in the medium term (months).
The problem was (hindsight is easy) back then for the delusional bulls caught in the typical “Bull Trap” after price manias. Anyone looking for a long-term trade in silver bullion was in for painful real years or the valuation performance that followed.
After starting the year with a run from $3.28 an ounce to over $6.50 an ounce in the first two calendar months, silver had some backing and padding to do.
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Within the next tests of the low support, the silver spot price went from four to more than six during April and May of 1974.
From then on, it would take over four long years for silver to leave six dollars an ounce in the dust starting in 1979, as silver began its run to its still-nominal price record reached in January 1980.
After breaking through the $10/ounce barrier, silver bulls had an excellent month in September 1979 as the spot price rose to $18/ounce in a few weeks of rallying.
Note that silver had started 1979 at about $6 an ounce as the bulls rallied.
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This early-year rush for silver continued a torrid run from 1979 and the previous decade.
On January 7, 1980, the still-dominant silver price that discovered Comex (which reportedly had nine board directors stuck in silver) announced that it soon planned to limit trading positions to 10 million ounces of silver.
Silver had started the previous year of 1979 at just $6 an ounce, and there the Comex silver well was weeks away from hitting a still-record price of more than $50 an ounce intraday.
Indianapolis Local News January 3, 1980 Begins as a bad news sitcom with historical context #Gold and maz-lum. By the way, Deputy Ernest Riggs was given a desk job after a trial by his peers. Here’s Johnny! pic.twitter.com/qbUuRGOzKz — James Anderson (@jameshenryand) May 4, 2018
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In initial bear markets, price bounces offer the ability to profit over short (days, weeks) and even medium-term (months) trades.
After an exponential rise in prices and subsequent collapse, price rebounds after the low will retrace to about half the rise of the old wall.
In September 1980, the price of silver rose to about $17 each
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