This sounds great to a lot of economists, but itâs actually bad. Savings are the only way an economy can progress. Only with savings does anyone have the capital or the leisure time to make machines, invent something new, or launch companies. So by discouraging saving, steady inflation stultifies economic progress.â.
The average price of silver in 2001 was $4.37/oz and 33 fold increase would result in silver rising to over $145/oz. While this price target may seem outlandish to some, it is worth remembering that silver's record high in 1980 adjusted for inflation (according to U.S. government inflation figures) was nearly $130/oz.ilver has been one of the top performing markets in recent months. Silver has risen to $21.41/oz and is up more than 10.3% year to date. It is important to remember that silver rose to a recent nominal closing high $48.41/oz on April 28, 2011.
1 The âspot priceâ (the current market price) of silver is for 1 troy ounce of pure silver. 2  One regular ounce is equal to 0.911458333 troy ounces. 3  Sterling silver is only 92.5% pure silver (at least technically, but in practice it's less due to after melt weight loss and assay at .9 and not .925).emember that 1 regular ounce = 18.2291 dwt (pennyweight) or 1 troy ounce = 20 dwt (pennyweight). So today, when the spot price of silver is $43 per troy ounce, or $2.15 per dwt, this website is offering 28% of the value, instead of 85% or even 75%.