Speaking at the Casey Research Gold and Resource Summit, Eric Sprott told investors that there is no more silver left to go around, "There's $22 billion of silver available in the world, of which the ETFs already own half, and between you guys and us we probably own the other half... Which means there's nothing left."
Money or currency is something that can be exchanged for a good or service. You can do this with things like food and water, its just that some people prefer to do it with gold because of the properties that it has.
fungible
divisible
not based on debt
Doesn't go bad
Debt based currencies usually fail, thus gold is preferable to that. Gold is also preferable to water and food because it doesn't go bad and it you don't need large amounts to trade.
2 years ago
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