Yeah, I find it freakin scary that the Chicom government could just stop buying/and or dumping and most likely cause a financial meltdown of the US Govt. within a week.
Someone said last week that China is to the U.S right now financially, what the U.S. was to Great Britian in the 1930s and 1940s.
The only problem with them doing it at the moment is it would throw thier economy into chaos too. Once they have our auto industry and airline industry, THEN they can hang us out to dry. I'm all for free (fair) trade, but that isn't what China does.
Silver has more industrial demand than gold. World reserves of silver hover around 6-9month supply for industrial use. Gold hovers around 40 years for industrial use supply. There is more demand fluctuation due to demand for jewlery. Silver has more potential to go up as Indians and Chinese are starting to horde silver as a hedge against currency collapse or govt revaluation. Silver is easier to purchase as the price is more attractive when they only make 4-6k a year. Also the new middle class likes to have silver serving sets and utensiles in India as well. Most silver is gotten as a byproduct of gold or copper mining so any reduction in gold and copper mining reduces output of silver.
As for the above... China needs us more than we need them. An embargo of Chinese goods in the US would crush their economy as they have failed to develop a consumer economy to provide for a large local market for goods or services as a buffer. Competion between factories for export sales has driven their margins down close to zero. Cheap loans has resulted in way too much capacity in many sectors. The Chinese savings rate is over 25% where ours is negative. Until Chinese people feel comfortable spending, they depend on the rest of the world for their economic growth. That would probably require the corruption issues to get resolved as well as the adoption of rule of law over administrative law, which corruption has thrived under.
Silver popped up .48 cents today...post-election jitters?
Anyways, many folks recommend buying junk silver, i.e. pre-64 us coins. [Only registered and activated users can see links. ]
It's has a lower premium to purchase it, as opposed to sometimes pricey buillion coins, and it is more clearly recognized as being easier to trade with due to the smaller demoninations and sizes.
I prefer to mine my own Gold. Learn how to prospect and you'll always have an emergency sorce of gold if things get real bad like the great depression or worse.
Takes time to learn like anything else, but once you know how, it's like picking money up off the ground. [Only registered and activated users can see links. ]
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" Save a tree...........Eat A Beaver!"
Anyone remember when the US goverment bougt back Silver Certificate doller denomination notes (US currancy) ??? I have a few 1lb bars and over the last 40 years I've collected any Silver dollars I could ome across, Morgans,Peace and even the newer Walking Libertys.
My Carson City Morgans have gone way,way up over the years! sure it's not gold but 4 50 cal. ammo cans full should help if the SHTF, if not later I'll sell all my doubles and "extra" complete sets. I'll pass the rest on to my son when I'm gone!
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