Down the rabbit hole - David Morgan & Mike Maloney from April 2010

David & Mike have long been visionaries in the precious metals arena. David is always very cautious and conservative in his public views, in this talk he gives his estimate for silver's appreciation in 2010 as 30% higher than gold, in US$ terms.

Was he right? No, silver didn't appreciate 30% more than gold it 2010, it appreciated 53% more than gold, for a total yearly appreciation of 83%!!

Note this talk was most likely recorded in late April 2010, a few months out from silver's stellar rise. In August the mainstream media started reporting on silver, there was the odd vague reference to the CFTC hearings and industrial demand picking up. Even I was interviewed for the national nightly TV news in Australia in the 3rd quarter of 2010 in regards to silver hitting 30 year highs. Although being a mainstream news program they spun the 30 year highs story as a time to bail out of silver and sell any silverware you might have before the "silver bubble" bursts.

Of course since that news show was aired silver has appreciated another 45% in AU$ terms ~ Tears of the Moon.

The takeaway quote from David Morgan:
"When everyone is thinking the same, no one is thinking very much"