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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 09/13/2007 : 21:27:33
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I read on some website a story of what would happen if silver went to $1,000 per ounce.
Suppose silver did go so high, what then? (I mean besides all of the silver owners on this forum selling their silver and buying a mansion or two.)
For starters, if you think the copper thievery that has been going on has been bad, imagine the thievery that would occur if silver skyrocketed. Electronic devices would get stolen for the silver content, jewelry stores would have to increse their security to prevent armed robbery, (hiring armed guards inside and outside the building), the get-rich-quick crowd juming onto the silver bandwagon with deeds to worked out silver mines, selling 'extract silver from home' kits sold on informercials, or selling silver plated items to suckers as a future investment.
Imagine the nation's employment getting turned upside down as thousands quit their jobs for a chance to strike it rich. (It happened during the 1849 gold rush so it could happen again.) While it would look good from an employment picture with more people working or self employed searching for precious metal, but consider what happens to those who don't search for metal, but stay at their regular jobs.
Those who don't search for PMs discover most of the garages, repair shops, supermarkets, eateries and retail busiesses closed or open but severely short staffed due to the inability to keep skilled or well trained workers from leaving for the quest for precious metals. Fewer consumers, less tax revenue streaming in, fewer tax dollars for cities and towns, it all eads to a n increase in taxes.
An increse in the price of silver and gold is something we all wish for, but it has been said, be careful for what you wish for, because you might just get it.
"When we get
what we want
we are always disappointed
to find out that it is not what we wanted"
Lise de Vaux Matthewman, from Crankisms 1901
I should have chosen "Cut-n-Paste" as a forum name, since that is what I do, mostly.
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Suppose silver went for $1,000 per ounce....
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