Gold has traditionally been the number one asset to protect your money from inflation, market corrections, and recessions. One of the areas that people have not been paying attention to is silver.
A Day Without Silver – Video Transcription
Patrick Brunson: 00:01
Good morning, this is Patrick Brunson with USMR Market Insights and U.S. Money Reserve. Over the last several weeks we've been talking a lot about gold. Gold is traditionally been the number one asset to protect your money from things like inflation, market corrections, and an economy that's going into recession. Typically when the dollar drops, people flocked to assets like gold. It has the most traditional form of generational wealth and it allows people to protect their money in times of uncertainty. But one of the areas that a lot of people have not been paying very much attention to is silver.
Patrick Brunson: 00:36
Silver is a big, big deal when it comes to the technology industry when it comes to eco-friendly technologies like solar panels, electric cars, even things that we use on a day to day basis, like cell phones and computers, laptops, tablets, you name it. Just about every single form of technology that we have requires some form of silver. So why are the prices so low? Well, there's a lot of speculation there. There's a lot of speculation that big banks on Wall Street had been trying to keep the price of silver low because banks like JP Morgan Chase, they've been buying up silver by the metric ton. It is estimated that many of the banks, not just here in the United States, but globally now own more than 20 percent of the above ground mined silver that exists on the planet. So this has been one of the areas that a lot of people have been taking advantage of lately, those who know about where silver is at and what the potential is for it. They've been moving large portions of their savings into silver to protect it going into this next recession whenever it may take place. But here's what's interesting: the US Geological Survey report that came out recently, it's a report that measures a lot of the elements that are coming out of the Earth's crust. Things like gold, silver, platinum, palladium, you name it.
Patrick Brunson: 02:01
What they have found with the amount that we're mining silver and the amount that we're using in the technology industry, they have found that if we continue to mine silver at the rate that it's being pulled out of the ground worldwide, that there's a big possibility that we could run out of silver by 2020, that's two years away. Now there's always going to be prospecting and we can find other silver mines around the world, but usually a silver mine can take anywhere from three to four years just to get up and operations. We don't have a crystal ball. We don't know what's going to actually happen to the prices of silver, but we do know that it's an area that people can protect their money and put it into an area where it's going to grow for them longterm.
Patrick Brunson: 02:47
With that being said, you can click on the link below or call the phone number on your screen and you can pick up the newest report: A Day Without Silver. It talks a lot about the projection on silver and where it's expected to go, it's 12 page report with a lot of really good reading to help educate you more on this particular asset. So if you have any questions, please feel free to leave them in the comment section below, or you can reach out to us at the number on your screen or click on the link. As of today, that's all. Thank you for tuning into USMR Market Insights.