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.
The 28 year record high gold price, in US Dollars, previously $850.00 on the p.m. fix on 21st January 1980, was smashed several times in January and February 2009, hit $1218.25 December 3rd 2009. On the afternoon London Fix of 6th October 2009, gold fixed at $1,038.75 per troy ounce. This was the highest ever dollar fix, until... the next day, on the morning London Fix of 7th October 2009, fixed further up at another new all-time high of $1,047 per ounce. Now $1,134.75 on 17th November 2009.