by Jeff Nielson
Bullion Bulls Canada
The price of silver popped above $20/oz (USD) last night. Woo-hoo! Silver is “rallying”, and happy days are here again. Really? How soon we forget.
[…] Look at the chart above. Can anyone see a rally?
In the spring of 2011; the price of silver was pushing $50/oz, and that price was still just a fraction of any reasonable, fair-market value. Then we had the Great Take-Down. The price of silver was smashed all the way down to the $20/oz level by the middle of 2013, in a series of massive (and illegal) plunges in the bankers’ paper-silver market.
At that point, the $20/oz level became the floor for the silver market, for a full year, until the middle of 2014, when the bankers began steadily grinding the price of silver (and gold) lower again.