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.
Silver is under $20 an ounce and that is for fine silver. Sterling silver is only .925 or so silver. Places that buy silver and gold jewelry are only paying 65 to 75 percent of what they get from the refinery. One troy ounce of sterling silver will likely get you $13 to $15 at one of these gold and silver places.