Sprott Money, Released on 2/24/23
John Rubino is the founder of the popular financial website DollarCollapse.com which he sold in 2022. Mr. Rubino is the co-author, with GoldMoney’s James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980’s on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990’s he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. His latest work can be found at https://rubino.substack.com.
Known primarily by his nickname “Turd Ferguson,” Craig Hemke is the founder and editor of the popular TF Metals Report blog and podcast, covering precious metals, the financial markets, and greater economic trends.
Turd says that “since 2008 there hasn’t been a bad time to be stacking”.
Wrong. Anyone who started stacking around 2011 — when silver hit $48 an ounce — got burned because they wound up averaging down. Current price today is less than $21 per ounce, less than half of the high, and MUCH less than half if you figure inflation into the nominal price.
Sorry for those who get tired of my sour grapes here . . . yes, it was my own damn fault for listening to all these guys pumping silver, but I am sure that I am not alone here, not the only person hoping that their stack will actually be worth more than what they put into it in fiat terms. Because fiat is what you must have to pay bills!
So yeah, I get upset when I hear BS coming from someone who told me years ago that the price of silver “is about to explode”, because I took their advice and silver did more imploding than exploding.
So true. Silver has been one of the worst investments for the last twelve years. A monkey investing in commodities would have done better than any of these phony silver gurus. Yet they still seem to attract an audience. Incredible!