Silver Could Explode Within Weeks

The comments below are an edited and abridged synopsis of an article by Jim Rickards

“Do you have a flashlight, spare batteries and some duct tape stashed away for home emergencies like power outages or hurricanes? Of course you do. How about 100 ounces of silver coins? If not, you should.”

Silver Could Explode Within Weeks | BullionBuzz | Nick's Top Six
Silver bullion bars

In an extreme social or infrastructure breakdown—where banks, ATMs and store scanners are offline—silver coins might be the only way to buy groceries for your family. This is one of many reasons why sales of silver coins and bullion are set to skyrocket.

The US election and its aftermath could see social unrest that would make this summer’s chaos look tame. We might not even know the winner for several weeks after the election. Things could get ugly.

If that happens, shortages will appear, and silver could soar to $60 per ounce or higher from current levels of about $25.

Up for discussion: silver is more practical than gold; the once and future money; the birth of fractional reserve banking; the first QE; the debasement of US coinage; and silver wins, no matter who wins the election.

Silver and gold have had a good year. Silver has backed off its high of over $28 per ounce, but is still holding at around $25.

Regardless of which party wins the election, the US is set for more fiscal stimulus in 2021 and lots of government spending. If Biden wins, Democrats will push for free healthcare for all, free healthcare for illegal immigrants, and the Green New Deal.

If Trump wins, there will also be a lot more spending. One thing Trump has proven during his time in office is that he’s not a fiscal conservative.

Either way, America is looking at more spending, bigger deficits, more money printing and more inflation.

The market’s anticipation of this outcome will be a powerful tailwind for silver. Investors should prepare now, before the spike.

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