Loading ...Tks for that insight…..Silver was only @ $ 50 for an hour or so…it was marching higher @ 4 45, then 18 January 1980 the London Fix started, which I think was at 12 am…this was a closed fix, you put yr bids and offers in and they found a median price, you could not add, or subtract, like in the Gold Fix…..Then they announced that the Fix was 49.45…it had jumped nearly $ 5.0….which stunned people …..by the end of the day it was heading south…fast .
So even with the dodgiest lawyers and real estate team….you’d have been hard pressed to sell/buy a house in that time….
So my guess is you would need 2 bags of scrap to buy a House…..I bought a flat then for £ 30,000…today they go for £ 700,000….lets say 20 times….which makes a case for silver $ 1000 and gold $ 17000 !!!! and a Gold silver ratio of 17….which is @ the level it has always topped at.
Cheers