If You Can’t Touch It, You Don’t Own It

November 17, 2010

(Editor’s Note: You must own silver, and you must take delivery of that silver. Don’t let someone talk you into silver stocks or silver futures. For wealth preservation, and secure money, your first position must be in physical gold and silver coins and bullion. Period.)

David Morgan of Silver-Investor.com and James Turk of GoldMoney.com discuss physical silver vs paper silver and backwardation.

Turk and Morgan each suggest physical ownership of silver over paper ownership to eliminate counterparty risks. “It’s the only money that stands outside of the system,” says Morgan. “Everything else is dependent on a bank or a broker or some kind of an electronic trading apparatus for settlement.”

Morgan forecasts that silver could get into the $30s by year-end and $40s by the end of the first quarter of 2011.

© 2010 Bull Source