may have noticed that gold is hovering around $1,360 an ounce (sliding
recently after a big run-up) and silver is around $30 an ounce. That
means in November of 2010 alone, gold increased in price by 2 percent
and silver by 14 percent. Investing in gold and silver beats saving
money in a bank earning less than 0.1 percent per month. Once again,
this is further evidence that savers are losers as central banks of the
world print trillions of dollars.
你可能注意到黃金在1360震蕩了很久，而白銀在30上下。從2010十一月以來，黃金上漲了2%，而白銀漲了14%。投資黃金白銀打敗了把存款放在銀行裡。他也證明了儲蓄者是個輸家，尤其是銀行正在大量供應紙幣的時候。
With
paper money declining in value, millions of people are finally climbing
on the gold wagon. Everywhere I go, I see signs that say, "We Buy
Gold," calling out to people desperate for cash to trade in their gold
jewelry.
隨著紙幣貶值，上百萬的人開始加入黃金的行列
For years now, I've said that silver is a better investment than gold.
過去我一直說白銀是比黃金更好的投資
To quickly summarize, here are a few reasons:
以下是理由
• Silver is consumed and gold is hoarded.
白銀會被使用掉 黃金會被儲存
•
Silver is a precious metal and is also an industrial metal that is used
in electronics, medicine, water purification, and jewelry
白銀除了是貴金屬，他也是工業金屬，用在電子，醫療，水淨化，珠寶
•
Today stockpiles of gold are increasing while stockpiles of silver are
decreasing. (This means there's an abundance of gold and a shortage of
silver).
金的儲備正在增加，而白銀的儲備漸漸減少 代表了充足的黃金，白銀的短缺
•
The gold/silver ratio is historically 14:1. This means that if gold
were $14 an ounce then silver would $1 an ounce. Today, the ratio is
approximately 50:1. Silver is extremely underpriced. If silver held to
the historic 14:1 ratio, with gold at $1,400 an ounce then silver should
be $100 an ounce -- not the $30 an ounce it is today.
黃金/白銀的價格比例，歷史上為14比1，而今日大約在50比1。如果回到歷史價位，黃金1400元時，白銀應該為100元才對。
In
my opinion, when you combine the fact that there's a shortage of silver
and that it's underpriced, silver is the safest and best investment
today…but not for long. 在我的觀點，如果你知道白銀的庫存正逐漸短缺，而且正在歷史價位以下，那麼他將是個安全無比的投資，但這情況不會再繼續持續。
A logical question is, "Why is the price of silver suppressed? Why is silver so much lower than gold?"
為何白銀的價格被壓抑了，為何白銀的價格現在跟黃金比起來這麼低
有兩個主要理由
Number
one, central banks buy gold, not silver. To bankers, gold is money and
silver isn't. Today central banks are buying tons of gold, with India
being one of the biggest buyers. This elevates the price of gold,
leaving silver the bridesmaid but not the bride.
第一，中央銀行正在買入黃金，而不是白銀。對銀行家來說，黃金是錢，而白銀不是。中央銀行正在成噸成噸的買進黃金，印度央行是最大的買家。抬升了黃金的價格而使得白銀像是伴娘一樣。
The
price of silver is manipulated. The price of silver is intentionally
kept low. While this is criminal, it's not illegal. Yet for decades,
COMEX, the commodities exchange, has been in cahoots with the biggest
silver investors at the expense of the little silver investor. This is
about to end, thanks to some regulatory changes that may offer the
biggest opportunity for silver investors between January and March of
2011.
白銀的價格被操縱了，美國商品交易所COMEX與白銀操縱者共謀消滅小白銀的投資者，而這將結束。由於那些改變，使得2011年一月到三月，白銀投資者將出現很大的機會。
What has changed? 什麼改變了
Rumors
are flying that more than 25 lawsuits have been filed against
commercial investors such as JP Morgan and HSBC, accusing them of price
manipulation to keep the price of silver artificially low.
謠傳有25件以上的訴訟正在進行，對於JP摩根以及HSBC對於操縱白銀價格的指控。
The
Commodities Futures Trading Commission (CFTC), which is to the COMEX
what the SEC is to the New York Stock Exchange, has passed a new law
which will force COMEX to play fair, forbidding such massive short
positions on silver.. The actions of the CFTC are one more reason for
last November's 14 percent price rise in silver. The price manipulation
of silver is about to end.
商品期貨交易委員會通過了一條新法律，使得COMEX必須公平對待，禁止白銀大量的空單集中在少數人手中。這也導致了白銀價格漲了14%，而白銀價個的操縱即將結束。
How was the price of silver kept low?
Big
investors short-selling silver have kept the price low. For decades,
the biggest players in the silver market, commercial investors such as
JP Morgan and HSBC, have taken massive short positions on silver.
由於龐大的白銀空頭部份，因此過去白銀的價格一直保持很低，例如JP摩根，HSBC都有龐大的白銀空頭部位。
Shorting is done in all markets: commodities, stocks, bonds, and real estate.
放空在許多交易中都會出現，商品，股票，債卷，房地產
The
commercial banks, generally large banks such as JPMorgan and HSBC, sell
borrowed silver from the COMEX and pocket the money. The banks use that
money to invest in other higher-returning investments such as stocks or
bonds.
商業銀行從COMEX借出白銀賣出，並將保證金用來投資於其他更高收益的投資上，例如股票跟債卷。
Meanwhile,
COMEX has earned billions of dollars from the interest on the borrowed
silver. The commercial banks and the COMEX both profit from this large
short position of silver, the larger the better.
同時，COMEX在白銀租借中，賺取了大量的利息，商業銀行與COMEX都從這些交易中獲利。
Now,
with the new CFTC law, the commercial banks will need to buy back
silver and return it to the exchange. The problem is not a money
problem. The problem is a shortage of silver.
由於CFTC新的法律，商業銀行必須將白銀買回並歸還給交換中心，這將不是錢的問題，而是白銀短缺的問題。
When
the commercial banks start buying rather than selling silver, this will
cause the price of silver to rise, increasing the costs to replace the
silver. It's simple supply and demand.
當商業銀行開始要買回白銀，將造成白銀價格的上漲，同時也造成了將白銀買回所需要的資金壓力，這是個供需問題。
This
massive big short has left the banks with a large margin-call when a
broker asks an investor to bring an account up to a minimum position.
How big is the margin call in silver? It is estimated that the total net
short position on the COMEX is 550 million ounces of silver. And that's
just on the COMEX. Worldwide, it's estimated that the short position is
2 billion to 3 billion ounces of silver.
龐大的空單部份，也造成了保證金的追繳，據估計，淨空單部位為5.5億盎司的白銀空單部位，這只是在COMEX，在全世界總共有20-30億的白銀空單部位。
If this is true, that means 2 billion to 3 billion ounces of silver have been borrowed and need to be purchased and replaced.
Again, the problem is not a money problem. The problem is that there's not enough silver to cover the margin-call.
如果這是真的，代表著有20-30億盎司的白銀將被買回。這不是錢的問題，而是沒有足夠的白銀可供買回。
When will this margin-call occur?
這個保證金追繳何時將會發生?
The laws passed by the CFTC and Congress take effect by March 2011.
由國會以及CFTC通過的這個法律將會在2011年三月生效。
If
the laws aren't repealed, the big commercial banks will be forced to
buy silver to replace the silver they've been borrowing. When they buy,
the price will go up.
如果這個法案沒被取消，則商業銀行必須強迫買回借出的白銀。
And
if the price of silver goes up during this buying period, their losses
will grow like an atomic mushroom cloud. This means that the big banks
and COMEX will be doing everything possible to keep the price of silver
low so that they can buy silver to cover their exposed positions. In the
next two to three months, you will probably see huge swings, up and
down, in the price of silver.
而當白銀的價位被他們自己抬升時，損失將像個原子彈一樣擴大，而COMEX以及商業銀行會盡一切可能將白銀的價格打壓在他們可買入的價位，在未來的幾個月，你可能會看到白銀的價格上下震盪的很厲害
I've
been buying silver for years, starting at under $4 an ounce. One year
ago, silver was about $17 an ounce. Today it's about $30 an ounce. I
believe $50 to $60 an ounce is possible for 2011.
我已經買入白銀很多年了，一開始是4美元每盎司，一年前到達了17美元，現在是30美元，我相信2011年可能會達到50-60美元
I believe it's possible to see the price of silver gain more in one year than it has gained in the past twenty years.
As
I close this column, I advise you to read this great interview of Ted
Butler, the person who has for years single-handedly been demanding
Congress to force the COMEX and big commercial banks to play fair.
As Ted Butler states, "It is time to sell gold and buy silver."
我建議你去看看對TedButler的這個訪問，他過去幾年一直致力於要求COMEX以及商業銀行必須公平。
https://www.investmentrarities.com/ted_butler_comentary 11-24-10 .shtml
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