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I’ve been promoting the sale of silver for over 50 years. When I met Ted Butler, the world’s foremost silver analyst, I’d been selling silver for over 25 years, and I was impressed with his knowledge. I might have drifted into another occupation if it had not been for the 1979-1980 silver price explosion. Silver jumped from the low price of $1.50 in 1972 to $50 in 1980, and to say it was exciting is an understatement. I have been waiting and hoping for something like that to happen again. When I first met Ted Butler, he assured me that silver was going up at least 10 times, and it did that in 2011 when it climbed to $50. However, that brief, bullish interval lacked the epic stimulation and high profits of a silver market gone wild as it did in 1980.


Our sales were over $500 million mostly from melting down silver items. We had two employees with rubber hammers who spent the day smashing silver trophies and tea sets until they were flat and then packed into 5-gallon cans. They went into a semi-truck along with bags of coins and bars from private mints and buckets of silverware, and then on to Handy and Harman in Chicago where they were melted. We filled a semi-truck every few days. When silver hit $50, it seemed like every household in America was selling their silverware.


As the years rolled by, I have come to believe that we are going to see another dramatic silver price jump. Ted Butler has made a convincing case that the suppression of the silver price on the COMEX for the past 40 years has led us to a supply crisis for silver that can only be resolved with much higher prices. Nobody has ever understood the futures market and silver trading like Ted Butler. From what he has told me I believe we are going to get another 1980 soon.


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