Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
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Comments on this article
Comments PolicySo you are thinking that trillions of freshly printed US dollars (digital equivalent) are going to gain value in relation to silver - an extremely finite monetary and industrial metal (with no counter party risk in owning physical)? (See Has the silver bubble burst?, May 2)
Let us pray the silver price gets totally trashed in a perceived bubble bursting panic sell off (See Has the silver bubble burst?, May 2). Then I can average down and buy enough silver bullion to fill the car boot.
When traded for my Australian dollar paper money silver looks like fair value even at current prices and should bounce back from any short term panic sell off. Hi Ho.
Silver is starting to closely follow the charts of when it went crazy in 1980 when the Hunt brothers duped the world into the big silver run.
Silver is still well below the histocially gold to silver ratio of 15 to 1 and I don't see many reasons for a major correction as the world is still printing money and has endless debt worries (See Has the silver bubble burst?, May 2).
I am on the bull side of thought here with silver (See Has the silver bubble burst?, May 2).
I agree with Nick Pleadin that the silver price has been out of whack for sometime compared to the gold price when you look at the historical ratios between the two commodities (See ‘Striking silver’, Conversation contribution, May 3). And I think it will be a lot higher at the end of the year purely as a hedge against extreme inflation coming down the pipeline especially in the good old US of A courtesy of one helicopter Ben (Bernanke).
There is no conspiracy, one just needs to look at the futures market (See Has the silver bubble burst?, May 2).
The COMEX puts out a weekly report showing who is long and who is short in their futures market. This report has shown for a long time that the JP Morgan investment bank is short over 100,000 silver contracts on their house account and this makes up 80 per cent of all open positions.
The only trashing going on at the moment is the self inflicted demolition of the US dollar by the Fed (See Has the silver bubble burst?, May 2)..
And what bubble? When everyone is talking about silver at $US250/oz, including your hairdresser and taxi driver, then it's a bubble!
That will also be when America's 'true' inflation is in high double digits and oil is traded in a multitude of currencies other than the US dollar.
I worked at a leading investment bank for a total of 10 years on and off. It was common knowledge amongst my more informed colleagues that there was blatant manipulation of markets, in particular for gold and silver (See Has the silver bubble burst?, May 2).
Silver's price has been long suppressed /undervalued and all that it is doing now is returning to fair value, especially so considering the financial world at the moment.
More importantly Stephen Bartholomeusz you should be asking 'Has the Australian housing bubble burst?'