Silver: Supply and Demand

Ever wonder how supply and demand affects the price of silver? It's not as simple as you may think. This educational video explores the economics of silver and its various uses for industrial demand. Visit http://www.edrsilver.com for more information. Presented by Endeavour Silver Corp. as part of an ongoing series of educational films on all things silver. Part Two is available at: http://www.youtube.com/watch?v=2auBA7...

• Category

  Science & Technology

[TheSilverlover999]

where is the part 2? i can't wait to see it.

[MrFerveo]

Yes you are and all the giants whose shoulders you stand on were dreamers as well. America needs a revolution. I'm in are you in?

[nerdherdmember01]

does anyone know what the song is @2:48?

[Bronwin Draney]

Now, the farmer will want something in return for his labor of producing the food. Note that payment is not for the food, in fact payment is for the labor to create the food.

But there were also those who helped the farmer in the creation of food. They applied their labor to the process and wanted something in return.

That something would come to be a representation of their labor, a mental acknowledgement that they gave up some of their energy in the process.

[Bronwin Draney]

At the same time that the crops were being grown, miners were digging up a shiny, yellow metal they called gold. Sometimes it came pure as in nuggets or the gold had to be refined from ore.

Once refined, to pure gold, it was found to be the same gold, the world over. Gold was gold, no matter where it came from. ALSO, it was durable, never rusted and could be nearly infinitely divisible. Case in point is gold leaf.

[Bronwin Draney]

So gold was a tangible item, rare and in demand for its beauty and its use as an ornament. Sometime in a distant past, some of this gold was traded for some potatoes. The potatoe farmer traded that gold for fertilizer. The fertilizer maker used some of the gold to pay his workers.

As time went on, ordinary barter was overtaken by this gold INTERMEDIARY item. A valuable item that stood as a middleman for the exchange of goods. A CURRENCY.

[Bronwin Draney]

Then the bankers came along and FUCKED IT ALL UP.

THEY COLLECTED THE GOLD FOR SAFEKEEPING IN THEIR VAULTS AND GAVE OUT RECEIPTS.

In time, participants in the economy began trading the certificates instead of running back and forth to the bank. But the banker got greedy when he found he could just make out receipts that did NOT represent actual gold held for safekeeping. He could buy a big house, a new carriage and white horses to pull them, and hire the cleanest hookers in town.

[Bronwin Draney]

The danger was, of course, that there were far more receipts floating throughout the economy than there was gold in the vaults. If too many receipts were habded in for redemption than the bank had gold, it went bankrupt and the banker was usually hug and or drawn and quartered.

And here we are today, bankers can do this to the tune of nearly a trillion dollars and NO ONE GETS HUNG. WTF?????????????

[p1gpharmer]

Supply and demand is a fallacy? lol ok there..... have another bongtoke!

[raj kumar]

I looked at this video clip since I got seriously worried about the economy and had no clue how to cope. Moolah does not always mean a single thing these days. Therefore I chose to do a little groundwork and stumbled on Goldiverse. I am just so lucky, I can change my personal savings from cash to many different currencies, to any precious metal anytime I would like. The state can go and take a jump for all I care. Just Yahoo and google it Goldiverse.