Is the price of silver directly related to the incompetence of government officials?

291fifth

Silver, as this is being written, is at $37.34 per ounce. I admit I find it hard to believe it is worth that much ... but ... then I look at the incompetent handling of the Japanese Earthquake/Tsunami relief/recovery effort and the bizarre military action in Libya.

How much of silver's current price is related to the incompetence of government officials undermining people's confidence in the future? I'm guessing it is at least 50%.

derryb

Indirectly related. It is each government's handling of its economic policy and its trust in its central bank (private bankers) that has destroyed the value of its respective paper currency. This has caused everyone to look for something else to hold the value of their savings/investments. Silver also has supply issues and industrial demand going for it as well.

BigE

Tough question, technically its the publics fault for trusting/electing, or maybe a flawed system that allows for poor decision making, could be a combo messup too-------BigE

roadrunner

Governments have been dumping silver into the markets since the early 1980's to keep the price depressed. It took 30 yrs to get rid of most of the excess supply. So here we are today.

roadrunner