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Monday, May 02, 2011 6:52:56 AM
I don't know where he gets his data, since all the times I've looked at the Silver Institute's data it has been a year or two off of current.
http://www.philstar.com/Article.aspx?articleId=681586&publicationSubCategoryId=66
• Gold/silver ratio of 33:1 points to more upside. The last time that money was exchangeable to exact amounts of gold and silver, the ratio was set to 16:1. In fact, for most of the past millennium, one ounce of gold would have been convertible to somewhere between 10 and 16 ounces of silver. Therefore, silver still has to double from here (assuming constant gold prices) for it to reach a relative peak against gold.
• Recent rise not yet comparable to 1980 bubble. During the Hunt brothers’ silver corner, silver rose 8x from $6/oz. in January 1979 to $49.45 in January 1980. Today, silver prices have not yet even tripled from the level it was last year.
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