Calls for $60, $75, $100 and $140 per ounce of silver by the close of 2012 may be very reasonable ones. Several well-known analysts have placed their bets already on each of these numbers.
Sure, $140, a quadruple from today’s $33 price seems way out there.
However, after considering the ramifications of a global financial system moving more rapidly away from the U.S. dollar (witness Iran), coupled with the no. 2 reserve currency, the euro, looking vulnerable, too, half the world’s purchasing power may be forced into gold and, by proxy, silver, whether they like it, or not.
U.S. and European financial institutions have not participated in the silver bull market. But they will–though, at much higher prices than their Asia brethren.
2012 could be the year of some shocking revelations to the mom-and-pop retail investor. The soundness (or the lack thereof) of the U.S. dollar will redirect their attention away from NDAA and other Washington nonsense as they receive a hard study on why politicians have gone mad lately. It’s about the U.S. dollar, not Iran’s nuclear capabilities or terrorism or anything other lie that may fit.
