BUYING SILVER ON MAY 1ST
An effort has recently been launched on the Internet to get those who believe in “real money” to buy (physical) silver on May 1st.
It’s too soon to know if this grassroots’ appeal goes “viral” and makes a statement that influences not only markets, but the mainstream media and perhaps even the world.
At least some early comments about this fledgling initiative fall in the “Why bother?” “This-is-silly” categories.
Balderdash. I love the idea, am definitely going to participate, thank those who thought of it and hope millions of liberty-loving people do as well.
Ron Paul army? You up for another great cause?
What’s the worst that can come of such an effort? I can think of two things.
1. It falls flat, never takes off, makes no real difference. No one seems to even notice.
2. You buy some silver and you have less fiat currency in your possession.
Now, what’s the best that could happen if this effort DOES go viral? Off the top of my head, I’ve come up with 12 possible outcomes and I like all of them.
1. The run on physical silver and gold that has been taking place since April 12th and 15th goes bionic ... parabolic. Even the NYT and CNBC will be unable to ignore that “something big” is happening in the world’s precious metals (physical) market.
This "something" is that Joe Smoe’s on Main Street are voting in mass for silver and gold.
And against: The Fed, fiat money, U.S. Treasuries, bloated government, deficit spending, unlimited money printing, Too Big To Fail (or Jail) banks, crony finance, etc.
2. It will become even more likely that the “real” price for gold and silver will be determined by the physical market, not the “paper” market so many of us believe is rigged and controlled by The Usual Suspects.
3. The effort will generate headlines that might cause others who have never considered investing in silver or gold to say, “Hey, what’s the fuss?” and look into precious metals to protect their own futures.
4. It will make JP Morgan brass, Ben Bernanke, Treasury Department honchos, the president and politicians who depend on money-printing to fund their playground ... squirm, cuss, panic?
5. It will make those who predicted the gold and silver bubble had burst reconsider their predictions and, well, look stupid ... again.
6. It will make those who likely orchestrated the recent “smash down”
of gold and silver prices - in an effort to kill investor sentiment toward precious metals (to protect the dollar as the ultimate “safe haven”) - rue the day they signed off on this gambit.
7. It will illustrate again how "ingenious" central planning can sometimes
backfire and confirm again “the Law of Unintended Consequences.”
8. It will perhaps make more people aware that the statistics and “talking points” that are being disseminated about the economy are not to be trusted. Nor are the journalists who are supposed to report on it.
9. If May 1 sales are significant enough, this will (one would assume) increase the price of silver. This makes the silver you have already purchased more valuable. That is, your net worth could increase.
10. If the effort reinforces notion that there actually is a run on physical silver and gold taking place (one that is clearly not abating), it will motivate others to buy into the market, which will further increase prices and enhance your net worth and protect your wealth.
11. It will reinforce Ron Paul’s notion that silver and gold are “real money” and perhaps move us closer to the day where the majority of Americans favor a return to some form of gold standard.
Finally, if you buy some silver coins, rounds or bars, you will have a store of value you can save as long as you prefer. Maybe the price will go down the next day or for a period of weeks, but you should know that, at some point, the prices are going to go back up, maybe even to the sky.
In other words, a lot of good can happen by supporting the “Buy Physical Silver” effort on May 1st, and certainly no obvious “bad." (I'm sure others can come up with even more reasons to jump on board this effort).
I say let’s all do our part, send a message from the Peons, and cast a “vote” about status-quo insanity by buying (physical) silver on May 1st; and then ...
12. ... See what happens. It might be quite fun to watch to boot.
Bill Rice, Jr. is managing editor of The Montgomery (Alabama) Independent. He can be reached at: