白银被严重低估，一年内，每盎司白银将突破五百美金# Stock
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HE U.S. DOLLAR silver Price would need to rise to $500 an ounce for every
Dollar of the US monetary base to be fully backed by silver, according to a
strategist at a leading investment bank.
In addition, a shrinking number of perceived safe-haven currencies have left
investors who might consider Buying silver with fewer "honest" alternatives.
Switzerland's recent announcement, for example, that it would peg the Swiss
Franc to the Euro has served to "narrow the universe of honest destinations
for flight capital with which silver has historically competed," says Dylan
Grice, member of the Global Strategy Team at Societe Generale.
"silver has no export sector, no pop-economists to be swayed by, and
no
populists to pander to. silver might be a mere lump of dense, useless shiny
metal, but it's one which crackpot central bankers can't print."
In a research note published today, Grice describes printing money as a "
fundamentally dishonest endeavor" – and explains that the Swiss National
Bank "has given up trying to be honest in a dishonest world".
Despite hitting all-time highs recently, the silver Price, argues Grice, is
still way below what it would need to be to fully back the entire US
monetary base.
"Benchmarked against the printing of The Ben Bernak, the price of silver at
which the US dollar would be fully silver-backed is now $500."
The current situation is markedly different to that observed in the 1970s
silver bull market – which culminated in the silver Price setting its
inflation
-adjusted all-time high in 1980.
"You might think such a 'price target' is far-fetched (and I might agree
with you). But bear in mind that the last time honesty was perceived to be
so scarce – in the 1970s silver mania – the Dollar was over-backed
by
silver...If it happened then, why not again?"
The Fed currently has almost $3 trillion in assets on its balance sheet – a
233% increase since September 2008, the month in which investment bank
Lehman Brothers collapsed.
Dollar of the US monetary base to be fully backed by silver, according to a
strategist at a leading investment bank.
In addition, a shrinking number of perceived safe-haven currencies have left
investors who might consider Buying silver with fewer "honest" alternatives.
Switzerland's recent announcement, for example, that it would peg the Swiss
Franc to the Euro has served to "narrow the universe of honest destinations
for flight capital with which silver has historically competed," says Dylan
Grice, member of the Global Strategy Team at Societe Generale.
"silver has no export sector, no pop-economists to be swayed by, and
no
populists to pander to. silver might be a mere lump of dense, useless shiny
metal, but it's one which crackpot central bankers can't print."
In a research note published today, Grice describes printing money as a "
fundamentally dishonest endeavor" – and explains that the Swiss National
Bank "has given up trying to be honest in a dishonest world".
Despite hitting all-time highs recently, the silver Price, argues Grice, is
still way below what it would need to be to fully back the entire US
monetary base.
"Benchmarked against the printing of The Ben Bernak, the price of silver at
which the US dollar would be fully silver-backed is now $500."
The current situation is markedly different to that observed in the 1970s
silver bull market – which culminated in the silver Price setting its
inflation
-adjusted all-time high in 1980.
"You might think such a 'price target' is far-fetched (and I might agree
with you). But bear in mind that the last time honesty was perceived to be
so scarce – in the 1970s silver mania – the Dollar was over-backed
by
silver...If it happened then, why not again?"
The Fed currently has almost $3 trillion in assets on its balance sheet – a
233% increase since September 2008, the month in which investment bank
Lehman Brothers collapsed.