Exclusive Interview-David Morgan on the Value of Silver in an Upcoming Inflationary DepressionSubmitted by stu2002 on Sun, 09/16/2012 - 18:00
David Morgan on the Value of Silver in an Upcoming Inflationary Depression
Sunday, September 16, 2012 – with Anthony Wile
Introduction: David Morgan, editor of "The Morgan Report" and founder of Silver-Investor.com, started investing in the stock market well before turning 18 years of age. Several years ago, Morgan put his lifelong study of free-market economics to work researching the economy, stock market behavior and precious metals, especially silver. Although very familiar with gold, Morgan believed that silver needed more exposure and would be utilized increasingly as technology continued to demand more and more of the metal. He has followed the silver market daily for over 30 years.
Daily Bell: We've interviewed you before but give us background on your publication and interest in silver.
David Morgan: Our publication is called "The Morgan Report" and can be found on the web at www.TheMorganReport.com. We publish at three different levels, one for buy and hold investors, the next level is aimed at market timing and the last is for hedge funds or high net worth investors.
Daily Bell: How are silver and gold performing these days?
David Morgan: Since August the precious metals have performed well. On the basic plus service I provide my own trades, bonds, gold, silver and the US dollar. Recently, I put on a trade for long silver basis $28.00 on the spot market.
Daily Bell: Is silver money?
David Morgan: Silver is both an industrial commodity and money. The word for silver and money is the same in the Romance languages. Anyone interested can do a simple search on Google – some of my articles will come up. The point, however, is 1.2 million references will be made in response to that search query.
Remember, the US was on the "International" gold standard until 1971 but not internally, yet 90 percent of silver circulated as the only "legal" tender through 1964! So silver was actually the ONLY MONEY in the US from 1933 through to 1964 inclusive. How soon people forget!
Silver has served as money through every debased paper currency since the dawn of recorded history. Any way you slice it, the fact remains the component of silver-as-money exists.
Daily Bell: It's been attacked for being an industrial metal. Your thoughts?
David Morgan: Silver is indispensable for modern life. So are many of the Rare Earth Elements, but without REE's life would go on. Without silver you basically would not be able to use electricity efficiently enough to have all the electronics and electrical power grids we now enjoy in modern society. No silver basically means no electricity. Think what that would mean to society.
Daily Bell: Is platinum a money metal? It's called a noble metal. What's that?