Does the recent price dip confirm....

[sixgun]

  

  

On 29/02/2020 at 13:47, sovereignsteve said:

A valid question would be; do we actually need silver as money in this day and age? Surely gold fulfils that role and doesn't need a supporting cast?

The question is how do you imagine 'money' is going to be? 

Some ridicule the idea of gold and silver ever again being currency if they even accept it is money. They imagine it would have to be coins in their pocket. Personally i really do not see gold and silver coins in circulation again - i am as certain as i can be of that. 
They rubbish the idea of silver and point out how it has languished since 2011 - that it is no longer any real sort of money and it is only an electrical component now. 
Now considering silver is perhaps the second most versatile 'commodity' after oil and just as vital to modern life, it might be seen as odd that it languishes as it does. i will say that is b/c it is money that it languishes - i think if it were a pure electrical component used in tiny quantities in products 'essential' to modern life, its price would be a lot higher. We can go round and round on this sort of point and there are those who will disagree and point to the recent past. i am not sure how one explains 2010/2011. What has fundamentally changed about silver between today and 2010/2011? It's price exploded with the Fed's QE - presumably b/c silver was money and then in the last few years the world forgot, other than the price getting smashed at times exactly coinciding with positive financial numbers - which you might think would boost the price of an electrical component commodity. 

Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos. 
What could that be? - well gold is an obvious choice. Silver would be another choice - it would not matter if you saw it as an electrical component commodity - it will be in demand, it fulfills the characteristics of money - as well as being an electrical component commodity. The only issue is the price. The market is so small it would have to be repriced to work other than on a small scale. Personally i won't be buying more physical silver other than the bits and pieces i pick up now and again but at the same time i won't be selling any. i suspect if i had to sell it all i would make some profit b/c i came in just late enough and the pound was strong enough and i bought the bulk at a time which kept my average price down. That makes a big difference to your outlook - when you are nursing a loss all you think of is the day you can get out clean - which is probably when price takes off and you miss the profit you always dreamed of. 

 

[goldking]

Using Mike Maloney as your source of info instantly wipes out any credibility you may have had.  The biggest silver ramper on the planet, oh and here's the link to my bullion company and why don't you subscribe to my weekly newsletter where I'll tell you what you want to hear about silver as well? 

[Seth]

1 hour ago, sixgun said:

  

  

The question is how do you imagine 'money' is going to be? 

Some ridicule the idea of gold and silver ever again being currency if they even accept it is money. They imagine it would have to be coins in their pocket. Personally i really do not see gold and silver coins in circulation again - i am as certain as i can be of that. 
They rubbish the idea of silver and point out how it has languished since 2011 - that it is no longer any real sort of money and it is only an electrical component now. 
Now considering silver is perhaps the second most versatile 'commodity' after oil and just as vital to modern life, it might be seen as odd that it languishes as it does. i will say that is b/c it is money that it languishes - i think if it were a pure electrical component used in tiny quantities in products 'essential' to modern life, its price would be a lot higher. We can go round and round on this sort of point and there are those who will disagree and point to the recent past. i am not sure how one explains 2010/2011. What has fundamentally changed about silver between today and 2010/2011? It's price exploded with the Fed's QE - presumably b/c silver was money and then in the last few years the world forgot, other than the price getting smashed at times exactly coinciding with positive financial numbers - which you might think would boost the price of an electrical component commodity. 

Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos. 
What could that be? - well gold is an obvious choice. Silver would be another choice - it would not matter if you saw it as an electrical component commodity - it will be in demand, it fulfills the characteristics of money - as well as being an electrical component commodity. The only issue is the price. The market is so small it would have to be repriced to work other than on a small scale. Personally i won't be buying more physical silver other than the bits and pieces i pick up now and again but at the same time i won't be selling any. i suspect if i had to sell it all i would make some profit b/c i came in just late enough and the pound was strong enough and i bought the bulk at a time which kept my average price down. That makes a big difference to your outlook - when you are nursing a loss all you think of is the day you can get out clean - which is probably when price takes off and you miss the profit you always dreamed of. 

 

I don't see digital currency ever taking root until it becomes a lot safer to store, to date there has not been a single cryptocurrency exchange, vault or retailer that accepts payment via cryptocurrency both on the regular web and on he dark web that has not been hacked and had all of it's ''vaults'', and/or accounts emptied, there's even an ongoing criminal cases against a few cryptocurrency founders, as well as exchanges - one that used to be the largest ''lost'' over 400 million US$ worth of bitcoin - mt gox, the owner is suspeced of actually sealing them himself, he's claimed everything from ''I've lost the hard drives that where used to store the the bitcoin on'', ''I've forgotten the password to the hard drives that I used to store the bitcoins on'' to my personal favourite ''I've forgotten where I placed the piece of paper where I wrote the password down for the hard drives the bitcoins where stored on''.  Until they can solve that issue at the very least, and that's just one of many issues with cryptocurrencies, it will never take off and become mainstream, it will just be a niche for geeks and computer nerds to rip each other and new comers off with.

[Michal]

On 01/03/2020 at 16:59, sixgun said:

As pointed out HH and myself have opposing views - it all stems from what i see in the banking system and how they operate on the silver market. HH sees something else and concludes something else. 
The banking system masters still see silver as a currency - hence why silver is an FX currency (not a commodity) so the Bank of International Settlements runs a multi-billion dollar book on silver - they see it as a competitor in waiting for the dollar. 

Just a side theory - not all mine but i will put this into the mix.

The big banking entities - The Exchange Stabilisation Fund - the Fed's proxies - the BIS - they are all involved in the precious metals markets. This is b/c gold AND silver are currencies and they are rivals in waiting to the dollar. No reason otherwise for the BIS to trade silver unless it is a currency and a dollar rival working with gold.

Gold and silver must be suppressed so as to keep confidence in the dollar high.
When there is a smash with $billions of shorts dumped at market price into the market this is the banking entities in action. It breaches position limits, it is not sensible trading practice - it makes no trading sense unless the objective is to smash price and depress sentiment in the precious metals markets.

When gold and silver are getting smashed things are not good for the dollar. There is a problem - there is a fear especially gold will breakout. The likes of JP Morgan are doing it for profit b/c they have the fire power, they work with others and they know the Money Masters have their back. We have seen case after case of market malpractice to confirm this is going on. There is a big fine but a bigger prize, so they keep doing it and none of the head people ever go to jail.

So if gold (and silver) are getting smashed it does not mean there are weak - it means the dollar system is weak and this is a way to keep investors out of precious metals and in bonds and the dollar. The crash in stocks is also due to this - to flush cash into bonds and not gold. The Chinese indices are not crashing so the idea it is the coronavirus is bogus.

The silver market is tiny. Many a billionaire could buy all the silver in the world. It is a small - highly visible market and easy to control as long as you keep it in the doldrums. The gold market is much bigger, more opaque and much more difficult to control. So if the dollar system is deteriorating and precious metals are strengthening you will see this first in gold. Gold is harder to control. Silver is easy to control. The result is the GSR rises and rises. The silver price is kept low but the gold price rises as control is lost. A high GSR has been a sign of the precious metals market being about to breakout.

In 2008 we had the so called financial crisis - this would be a time when precious metals should shoot to the Sun and Moon. Price fell. The usual excuse was that traders were selling metals to cover losses on stocks. This is the same old tired excuse b/c we aren't going to hear the truth that the metals got slammed.

Control was  obviously wobbly in 2008 -  they have got to get control or their empire is lost - gold is harder to control - silver is easy to control - the GSR shoots up.

The situation is still very dodgy - plates are spinning - the Fed decides to crash interest rates and then starts QE. The Money Masters are really losing it. Precious metals start to look a safe bet. Gold starts the major phase of the bull run to the high in 2011. 

i say the Money Masters are really losing it b/c silver starts moving up as well - now the easier market to control slips from their grip - the GSR starts moving down as silver moves up faster than gold. Silver almost gets to $50 in 2011 - the market is running wild.

Then the silver price gets slammed really hard. Just like it did with the Hunt Brothers' high. Comex trading rules get changed and shorts positions get dropped like a squadron of B52's carpet bombing with Napalm. The GSR shoots back up - control has still not been achieved in the gold market and it is not until late 2012 that control is achieved and price is sent down until the low in December 2015.

The Money Masters see silver as money, as a currency - XAG would not exist otherwise and the BIS would not have a multi-billion dollar book it works with the LBMA to keep things under control. They have never really gained full control since 2008 - the GSR has kept climbing since the silver smash in 2011 - the USD -Treasury complex is disintegrating. We have had QE into the Repo market since last September. The wheels are coming off. When the wheels do come off expect to see XAG (silver currency) rising and rising faster than XAU. 

Even if you don't agree with me, it makes an interesting theory.

JP and others starts to gain massive amounts of silver since 2011 dump because they realized they won't be able to control it next time, but if they have physical who cares any way? Price skyrocket they will have pay day, it doesn't matter coz it was obtained for funny worthless monopoly money.

[Roy]

2 hours ago, goldking said:

Using Mike Maloney as your source of info instantly wipes out any credibility you may have had.  The biggest silver ramper on the planet, oh and here's the link to my bullion company and why don't you subscribe to my weekly newsletter where I'll tell you what you want to hear about silver as well? 

That's unfair.

Sixgun said: 'Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos.' 

He is quite correct, Maloney explained the qualities of money very well and is a good source of info.

[goldking]

1 minute ago, Roy said:

That's unfair.

Sixgun said: 'Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos.' 

He is quite correct, Maloney explained the qualities of money very well and is a good source of info.

If you drink the GSR and "silver to da moon" Kool-Aid, sure.

[Martlet]

1 hour ago, Seth said:

I don't see digital currency ever taking root until it becomes a lot safer to store, to date there has not been a single cryptocurrency exchange, vault or retailer that accepts payment via cryptocurrency both on the regular web and on he dark web that has not been hacked and had all of it's ''vaults'', and/or accounts emptied, there's even an ongoing criminal cases against a few cryptocurrency founders, as well as exchanges - one that used to be the largest ''lost'' over 400 million US$ worth of bitcoin - mt gox, the owner is suspeced of actually sealing them himself, he's claimed everything from ''I've lost the hard drives that where used to store the the bitcoin on'', ''I've forgotten the password to the hard drives that I used to store the bitcoins on'' to my personal favourite ''I've forgotten where I placed the piece of paper where I wrote the password down for the hard drives the bitcoins where stored on''.  Until they can solve that issue at the very least, and that's just one of many issues with cryptocurrencies, it will never take off and become mainstream, it will just be a niche for geeks and computer nerds to rip each other and new comers off with.

While I agree there are problems for adoption, that claim simply isnt true.  Even in a handful of hacks on exchanges, most have been restricted in impact and funds covered, its the exception rather than the rule.  

[HawkHybrid]

1 hour ago, Roy said:

That's unfair.

Sixgun said: 'Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos.' 

He is quite correct, Maloney explained the qualities of money very well and is a good source of info.

 

mike maloney pushes his version of the qualities of

money. like many metals pumper, what he says is

sound but far from complete. like many mike maloney

can't get past the line that currency is 'printed out of

thin air'. as such everything he says leads to this

conclusion. he doesn't understand the pros of currency.

their is a real reason why zimbabwe (survivors of a

currency collapse) who were forced to use gold(money)

wen't back soon to using currency(usd). metals pumpers

explanation, they're either stupid or brainwashed, really?

a whole nation who has just gone through a currency

collapse still don't realise that currencies can collapse,

really?

it's just one conspiracy theory after another.

the sad thing is that sixgun seems to be going the way of

mike maloney and others: only present the facts that

support your bias. drawing conclusion from an incomplete

picture.

 

HH

[Seth]

There is an actual chance that gold backed money may return, there are at least two countries that are not only talking about doing it, but also have enough gold reserves to do it, Malaysia and China, there's a few other countries as well that have been talking about doing it, I know that there is at least one millde eastern country talking about doing it, Dubai, or Saudi Arabia, maybe both of them, I can't remember off the top of my head more than China and Malaysia as being two that have been seriously talking about it and having enough gold reserves to actually do it.

[goldking]

4 minutes ago, HawkHybrid said:

One conspiracy theory after another.  The sad thing is that sixgun seems to be going the way of mike maloney and others: only present the facts that support your bias; drawing conclusion from an incomplete picture.

Are you referring to your disciple-like following of igold here?    I mean, they draw lots of pretty lines between select points on graphs that happen to suit their narrative of gold price crashing to $1k, so that means it's got to be true, right?  I could draw you some pretty lines from 1971 to 2020 across all the top and bottom points on the graph and paint you a very different picture of where gold price is heading.  Companies/coin dealers/bloggers will tell you whatever you want to hear if there's the slightest chance of you getting your wallet out.

[Seth]

10 minutes ago, goldking said:

Are you referring to your disciple-like following of igold here?    I mean, they draw lots of pretty lines between select points on graphs that happen to suit their narrative of gold price crashing to $1k, so that means it's got to be true, right?  I could draw you some pretty lines from 1971 to 2020 across all the top and bottom points on the graph and paint you a very different picture of where gold price is heading.  Companies/coin dealers/bloggers will tell you whatever you want to hear if there's the slightest chance of you getting your wallet out.

I've got a fiver saying that I could put something together with those graphs that would make you swear on the bible that you had just spent a few amazing days with Timothy Leary in his prime.

[HawkHybrid]

22 minutes ago, goldking said:

Are you referring to your disciple-like following of igold here?    I mean, they draw lots of pretty lines between select points on graphs that happen to suit their narrative of gold price crashing to $1k, so that means it's got to be true, right?  I could draw you some pretty lines from 1971 to 2020 across all the top and bottom points on the graph and paint you a very different picture of where gold price is heading.  Companies/coin dealers/bloggers will tell you whatever you want to hear if there's the slightest chance of you getting your wallet out.

 

gsr only goes to 100:1 within days of igold showing

charts that claim a breakout.

(maybe he just got lucky this time)

bias that stands a realistic chance of materialising

soon, that I can handle.

if you find fault with the actual analysis then point it

out but don't say it's wrong because it doesn't fit with

your understanding of gold. a multi year drop in the

price would be similar to what happened in 1980

and 2011. multi year drops don't change the multi

decade outlook that the trend is still up.

I don't have a disciple-like following of igold. I'm just

annoyed that people choose to discredit him as

being wrong purely on the basis that his conclusion

doesn't agree with their bias.  and obviously they

choose not to find fault in his analysis.

 

I'm not without bias but try to show a fault in the

analysis as a way to show it.

 

HH

[Seth]

1 hour ago, Martlet said:

While I agree there are problems for adoption, that claim simply isnt true.  Even in a handful of hacks on exchanges, most have been restricted in impact and funds covered, its the exception rather than the rule.  

What happed to MT. Gox alone made 7% of the Bitcoins in existence vanish, none of the dark web site like The Pirate Bay version 1.0, The Pirate Bay Version 2.0, Atlantis Marketplace, and Sheep Marketplace to name a few that were hacked and robbed of cryptocurrencies have to this day been traced yet alone recovered or returned to their rightful owners, things like ''cryptocurrency tumblers'' - What is a cryptocurrency tumbler, not only put a lot of people off cryptocurrencies, but are specifically coded to make stolen cryptocurrencies next to impossible to trace and recover, even when the blockchain is put ''under a microscope'' by forensic accountants, but so do the actual official cryptocurrencies communities, just have a read at the official Bitcoin website/forum, they openly talk about price manipulation and how they should go about manipulating the value of Bitcoins to the advantage of the hardcore members.

[goldking]

23 minutes ago, Seth said:

I've got a fiver saying that I could put something together with those graphs that would make you swear on the bible that you had just spent a few amazing days with Timothy Leary in his prime.

Seth just pay me $1500 a year buddy and I'll make the graphs say anything you want them to say  .  Pay me another $497 a year and I'll send you a weekly newsletter with all the articles from kitco and ZH rehashed into a different format so you're kept up to date on the latest market news.

[Seth]

19 minutes ago, zhoutonged said:

Ok Boomer

I'm actually a millennial, and to date I've yet to see any of the bitcoins returned to me, or their value in cash that where stolen from my MT. Gox account, and accounts with various online marketplaces, I used to be extremely pro Bitcoin when it first started, but experience has taught me otherwise.  Unlike some people who just buy them to speculate with, I actually used them, and not just to buy naughty things with, I was that pro Bitcoin that I was using them to pay for anything that gave me an option to pay via bitcoin.

But your probably right, that's why FaceBook is releasing it's own cryptocurrency - Libra, and has a bunch of well known and respected financial institutions and online payment gateways like paypal lined up to back them.  Hang on, all the backers pulled out,

[Seth]

14 minutes ago, zhoutonged said:

Surely you would know the Bitcoins didn't vanish, you would also know that one of the big points of Bitcoin is that it is out of the reach of any Authority and as such it can not be confiscated "recovered or returned"

MTGox was a website run by a crook, it was not bitcoin.

If you put your PMs at risk you wouldn't blame PMs for the loss.

Please enlighen me to where they are, because I had a nice amount stored in various exchanges, and I've yet to receive a single Bitcoin returned nor bean reimbursed with real money.  Would you like to now tell me that the ''Bitcoin double spend problem'' was nothing but fake news?

And yes people have had Bitcoins returned, when tumblers first started to appear, cryptocurrency exchanges where not only blocking ''tainted Bitcoins'' from being deposited into accounts with them, but returning them to their rightful owners, the owners may be anonymous, but their ''wallets'' and the Bitcoins history isn't.

[Seth]

3 minutes ago, zhoutonged said:

They are on the blockchain Seth, but you don't have the Keys, you never did. Sorry you were scammed.

Exactly, what double spend problem

 

I suggest you have a look at the official Bitcoin communiy website and search for ''double spend'' it caused quite an issue.

[sixgun]

3 hours ago, Roy said:

That's unfair.

Sixgun said: 'Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos.' 

He is quite correct, Maloney explained the qualities of money very well and is a good source of info.

Did that post get removed? i can't see it. Oh wait a minute i blocked goldking so i won't see his posts. The first person i ever blocked here, i did it after being contacted by a member who said they had blocked him and i was being trolled.
You are right Roy, those videos Mike Maloney made are very good - even if you believe he is a pumper, those videos are very informative.

[sixgun]

7 minutes ago, zhoutonged said:

I have just noticed you were victim to theft on various exchanges? none of which were resolved. What other exchanges did you fall victim to?

Again if true you didn't learn your lesson, if you don't have the keys they aren't your bitcoins. Harsh but true...Sorry

Exactly - well made point, if you keep coins on an exchange, the exchange have the keys, your coins aren't secure. 

[Seth]

6 minutes ago, zhoutonged said:

A theoretical issue, Im quite up to speed with how the Bitcoin blockchain works thanks.

You haven't been into it for that long, or have looked at it's history far back enough - Bitcoin double spend, if you go to the actual Bitcoin community website/forum, you will see that it was a well known about and exploited problem before 2013, the link I posted was just one example that was caught.

[goldking]

23 minutes ago, HawkHybrid said:

<snip>

I'm not without bias but try to show a fault in the analysis as a way to show it.

Sorry, I went off on a bit of a tangent about igold.  My point was not igold specifically but more that you call out people for only posting stuff that agrees with their bias but you're guilty of doing the same thing yourself.  It's a bit pot-calling-kettle don't you think?  Whether we admit to it or not, we all have our bias.  Some are more bonkers than others, dreaming up crazy conspiracy theories about the Russians and having friends in GCHQ, for example.

The disciple-like following of an irrelevant 170 year old gold to silver ratio is a perfect example.  People are up to their necks in silver which hasn't done anything price wise for over a century so they've gone and binge watched a hundred Mike Maloney videos to confirm their belief that it's a 'thing' and the price will soon go to the moon.  Confirmation bias.

In reply to your second comment, I have not said there is a fault with igold's analysis.  I have in fact said in several posts over the past week that I foresee a substantial drop in the gold price should we enter a recession - which agrees with igold's analysis - but I don't believe the drop will be to the levels they are predicting.  The world stage and economies and very different to those of 2008.  The size of the debt bubble back then is a drop in the ocean compared to the size of the debt bubble today.  That is why any comparisons and predictions on what will happen going forwards based on what happened 2008-2011 should be taken with a pinch of salt.  It could be that gold rises significantly higher in the short term, perhaps beyond $2k - especially when further rate cuts are on the cards and a strong likelihood of QE5 on steroids in a futile attempt to keep the stock market inflated.  Equally, gold price could get dragged harder the other way if confidence evaporates and the stock market truly crashes - the selling of PM paper certificates to cover losses in the stock market and the REPO market would be huge and would send the PM prices tumbling far more than we saw yesterday and the other Friday.  Either of those scenarios could happen, but none of us know for sure - not even the "experts" who charge for their so-called insider information.

[goldking]

9 minutes ago, sixgun said:

Did that post get removed? i can't see it. Oh wait a minute i blocked goldking so i won't see his posts. The first person i ever blocked here, i did it after being contacted by a member who said they had blocked him and i was being trolled.

So you keep saying.  One could counter-argue that your continued announcements of how you claim to have me "blocked" are also tantamount to trolling .

Fortunately the other 99% of the membership here are mature grown-ups who are able to engage in intelligent discussion and debate with each other - even disagreeing on some things - without having a tantrum and throwing all their toys out when they are asked to back-up their wild claims with some actual facts and evidence.  It's far easier to scream "TROLL!" and resort to childish antics such as blocking them so that their ikkle feelings don't get hurt.  Maybe the Fisher-Price forums would be more suitable for you.

[Seth]

30 minutes ago, zhoutonged said:

I have to admit I felt I had missed the boat when we reached parity and stupidly waited until Bitcoin hit $60 before I started buying. 

Maybe you can teach me all about this Bitcoin thing?

The ''rules'' have changed a lot since I left the Bitcoin bandwagon, you could buy 1 Bitcoin for around US25.00 when I left, which was when the whole double spend and exchanges being hacked were almost happening on a daily basis, which was another reason why I stopped, the ''rules'' kept being updated or changed, there was huge divisions in the communiy over the direction Bitcoin should go, they where even brining up the environmental impact and energy cost of mining Bitcoins due to the processing power required, I admit I did have a go at mining bitcoins in the early days around 2010 when it was actually possible to mine a few bitcoins a week on your above average spec desktop, instead of relying on the processing power of multiple graphic cards GPUs daisey chained together running for weeks to maybe get lucky enough to mine 0.01 of a Bitcoin.

[Seth]

38 minutes ago, zhoutonged said:

I remember 2013 well, if you "left" when BTC was $25 then you must have taken your bitcoin off MTGox? If not how did you leave? Im confused.

Anyway crazy days

Back then it was so easy to buy or sell bitcoins, it was far easier to spend them than to actually buy or sell them, you basically had to put them up on the exchanges marketplace and wait for somebody to come along and want to buy your bitcoin, they weren't put into a pot on anything, it was almost run like ebay, everybody who wanted to sell their bitcoins had to put up a ''for sale listing'' for however many bitcoins or fracions of a bitcoin they wanted to sell, and what amount they wanted in exchange for their bitcoin/s or fraction of a bitcoin, it was an extremely tedious and time consuming process to buy and sell bitcoins, nowadays you can do it in minutes once you have your walle setup.  Don't forget the first security problems and issues with hacking MT Gox had happened before 2013, I think it was late 2010 early 2011 that they were first hacked and robbed and my account with them was emptied then.

[sovereignsteve]

5 hours ago, sixgun said:

  

  

The question is how do you imagine 'money' is going to be? 

Some ridicule the idea of gold and silver ever again being currency if they even accept it is money. They imagine it would have to be coins in their pocket. Personally i really do not see gold and silver coins in circulation again - i am as certain as i can be of that. 
They rubbish the idea of silver and point out how it has languished since 2011 - that it is no longer any real sort of money and it is only an electrical component now. 
Now considering silver is perhaps the second most versatile 'commodity' after oil and just as vital to modern life, it might be seen as odd that it languishes as it does. i will say that is b/c it is money that it languishes - i think if it were a pure electrical component used in tiny quantities in products 'essential' to modern life, its price would be a lot higher. We can go round and round on this sort of point and there are those who will disagree and point to the recent past. i am not sure how one explains 2010/2011. What has fundamentally changed about silver between today and 2010/2011? It's price exploded with the Fed's QE - presumably b/c silver was money and then in the last few years the world forgot, other than the price getting smashed at times exactly coinciding with positive financial numbers - which you might think would boost the price of an electrical component commodity. 

Personally i see digital currency in the future, currency backed by something - things that are tangible and have real value. Things that have the qualities of money as laid out in Mike Maloney's videos. 
What could that be? - well gold is an obvious choice. Silver would be another choice - it would not matter if you saw it as an electrical component commodity - it will be in demand, it fulfills the characteristics of money - as well as being an electrical component commodity. The only issue is the price. The market is so small it would have to be repriced to work other than on a small scale. Personally i won't be buying more physical silver other than the bits and pieces i pick up now and again but at the same time i won't be selling any. i suspect if i had to sell it all i would make some profit b/c i came in just late enough and the pound was strong enough and i bought the bulk at a time which kept my average price down. That makes a big difference to your outlook - when you are nursing a loss all you think of is the day you can get out clean - which is probably when price takes off and you miss the profit you always dreamed of. 

 

I don't rule out silver ever being used as currency again. In fact I think that could be it's only saviour as 'money'. Otherwise eventually it will become purely an industrial commodity.

If silver is the second most versatile commodity as you put it, it just shows that the current price is fine to suit it's supply and demand. In fact you tell us there is a huge stockpile somewhere. So to say it's price as an electrical component should be a lot higher is illogical to the point of nonsense.
If you took away all the silver currently used in it's capacity as 'money' ie coinage and bullion, there would be a massive oversupply for industrial purposes and it's price would surely plummet.

If you had PM backed digital currency, why would you need silver? Gold could back as much circulating digital currency as you could ever need. Just the exchange rate would need to be sufficiently high.
Personally I don't see us going on to a purely digital currency system for a long, long time. The technology isn't robust or secure enough for exclusive use.
It wouldn't be allowed anyway unless it were the Governments and central banks controlling it and that would be no better than the current fiat system. It would be a huge step anyway and I can see the population fighting it if it ever came to that position.