Silver Vs The US Dollar | How Will A Dollar Crash Affect The Price Of Silver


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Many are curious if silver is a real and better alternative to the dollar.

The one thing silver and gold have going for them is global relevance. It is used by every country in the world. The dollar is the world’s reserve currency but not the only one. That means countries trading with each other can bypass the dollar and use other recognized currencies like the Euro, Japan’s Yen and China’s Yuan.

No country can bypass silver because you cannot substitute it with anything in the industries that need it.

For example, the world is trying to transition to renewable energy. Solar panels are in great demand and one of their main components is silver. You cannot replace it with copper or wood chips or paper. It has to be silver because there has been no other material that can conduct energy better.

That being said, people won’t lose faith in silver the same way people can lose faith in a currency. You can’t go and say, ‘I don’t have the confidence silver should be used to make solar panels’. And even if someone says that, it won’t matter because science backs it up.

Confidence is really the biggest factor when a currency collapses.

There are also some big time investors trying to manipulate silver and gold prices down to prop up the dollar. This was often accomplished by short selling the price of physical silver using paper transactions. However, the growing demand for silver on the industrial side will soon make that strategy ineffective.

Much of the silver mined each year is used to make cell phones, flat-screen TVs, and solar panels. With silver essential to the production of cellphones, flat-screen TVs, solar panels and medical services – almost 50 percent of its annual production – this restricts the amount of newly mined silver available for purchase by precious metals collectors and investors. In the coming years, when many of the new technologies requiring silver mature, the price of silver could move up substantially because of this supply and demand relationship alone.

Mining is another reason silver supply is failing to meet demand. Any asset with less supply and more demand increases in value. There are very few stand-alone silver miners. With the exception of Coeur d’Alene, Hecla, Silvercorp, and Alexco Resources, there are few large companies that primarily mine silver. Many miners that produce silver often do so as a byproduct of base metals mining.

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