Silvermarknadens dollarvärde bara 0.25% av guldets

Kommentar av Ted Butler på Ed Steers blogg:

At current prices, there is $6.6 trillion worth of gold in the world and a little over $16 billion worth of silver. In other words, on a dollar (or any other currency) basis, there is more than 400 times more gold in the world than silver. Expressed differently, all the silver in the world is worth only one-quarter of one percent (0.25%) of what all the world’s gold is worth. Even by doubling the amount of silver by including coins and small bars (most of which will never be converted into 1,000 oz bars), one would still end up with the gold being worth 200 times what the silver is worth or silver being worth 0.5% of what the gold is worth. These are the most extreme valuation differences ever.

Like investors in everything else, precious metals investors seek out the best relative value available. Investors everywhere want the best value, lowest risk and biggest bang for their buck. Due to an increasingly obvious price manipulation on the COMEX, silver has reached a degree of undervaluation relative to gold that is so extreme as to be almost unbelievable, even when expressed in simple arithmetic terms. And because gold is so cheap compared to other asset classes, that automatically means silver is even cheaper compared to every other asset.Silver analyst Ted Butler: 22 November 2014

‘$15 billion worth of world silver inventories’

Samtidigt tog Alibaba in $8 miljarder i en finansiering (länk), halva värdet av den totala mängden silver inventories varav bara en liten del tillgängligt att köpa. Hoppas det framgår hur löjligt lite silver det finns där ute i förhållande till mängden luftpengar som skapas ur intet varje dag. Mer om hur extremt tajt silvermarknaden är läs senaste av Ted Butler:

I remain amazed that the world continues to miss the most important distinction between gold and silver, namely, how much of each exists. After all, something has to explain why the world’s investors are completely unaware of the physical and financial facts surrounding silver. I’ll tell you straight out – if there were only $15 billion worth of gold inventories in the world, I’d probably be a bigger gold bull than silver bull – if you can imagine that.

Fifteen billion dollars is such a pitifully small amount for what might exist in world inventories for either gold or silver that it would be reason enough to buy either if that valuation applied. Well, it does apply to silver and doesn’t apply to gold where the amount of gold in the world is measured in the trillions of dollars ($6.5 trillion, to be precise). Furthermore, very little of the $15 billion worth of world silver inventories is available for sale – according to ETF and inventory flows. I can’t prove it, but I doubt that if someone tried to buy just one billion dollars’ worth of physical silver currently (60 million oz), the transaction could not be completed below $30.Silver analyst Ted Butler: 19 November 201