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Visualizing Silver

Discussion in 'Gold Silver (All things Metal)' started by searcher, Mar 10, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    13 Stunning Visualizations of Silver Put Global Debt Into Perspective
    Visual Capitalist

    Thursday, March 9th


    Although gold has a bigger reputation today as a monetary metal, it was often deemed too valuable for everyday transactions throughout history.

    For the most part, common people in places like Ancient Rome used silver to buy daily staples like grain or wine. As a result, silver has a strong reputation through monetary history as the “people’s money”.

    Even today, silver is still much more widely accessible. With one ounce of gold being 70x more expensive than an ounce of silver, it’s difficult for someone who is just starting to accumulate wealth to own gold.

    Visualizing Silver
    What do savings and debt look like, using the “people’s money”?

    Below is everything from the average paycheck to global sovereign debt visualized as silver cubes.

    1. A median U.S. family brings in $2,355 per pay period (semi-monthly) pre-tax.
    [​IMG]

    2. However, the median American family only has about $5,000 of savings.
    [​IMG]

    3. The standard silver delivery bar holds 1,000 oz of silver.
    [​IMG]

    4. Average household debt is $98,312, with mortgage debt being the primary component.
    [​IMG]

    5. A Lamborghini worth over $400,000 needs a silver cube with 16-inch (0.4m) sides.
    [​IMG]

    6. Using a silver price of about $18/oz, here’s what $1 million looks like.
    [​IMG]

    7. Every day, the world’s mines produce about 75 tonnes of silver, worth over $44 million.
    [​IMG]

    8. Silver Eagle sales have jumped considerably since the Financial Crisis.
    [​IMG]

    9. When the Hunt Brothers tried to corner the silver market, they hoarded 200 million oz.
    [​IMG]

    10. Today, almost 900 million oz of silver is mined each year.
    [​IMG]

    11. JP Morgan’s market capitalization, in comparison to previous cubes.
    [​IMG]

    12. All silver ever mined would not compare to the Fed’s balance sheet, which is now $4.5 trillion.
    [​IMG]

    13. Global sovereign debt is 13X bigger than all previous cubes combined.
    [​IMG]

    Liked our visualizations of silver cubes?

    Don’t forget to check out 11 stunning visualizations of gold.

    The Money Project is an ongoing collaboration between Visual Capitalist and Texas Precious Metals that seeks to use intuitive visualizations to explore the origins, nature, and use of money.

    SilverSeek.com

    http://silverseek.com/article/13-stunning-visualizations-silver-put-global-debt-perspective-16392
     
    birddog, Son of Gloin and Weatherman like this.
  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Silver Very Undervalued from Historical Perpective of Ancient Greece
    GoldCore

    Thursday, March 9th


    – What wages in ancient Athens can tell us about the silver price today
    – Wages paid in silver in ancient Athens compared to wages today
    – Silver massively undervalued compared to the past few thousand years


    [​IMG]

    by Dominic Frisby

    Today we look at the wages paid to oarsmen on warships in ancient Athens in 450BC.

    I bet you’ve never read a Money Morning that began like that before.

    Why on earth would I want to do such a thing?

    Because it tells us a great deal about the silver price today…

    How wages in ancient Athens compare to today

    In The Economy of Ancient Greece, historian Darel Engen describes how the Athenian unit of money – the talent (about 26kg of silver) – could purchase nine years of a skilled man’s labour. If we assume 250 working days in a year, that works out at about 11.5g of silver per day – a little under 0.3 of a troy ounce.

    A kilo of silver today is about £460, so nine years’ skilled labour would amount to about £12,000 in today’s money. That makes a year’s skilled labour about £1,333, and a day’s £5.29.

    Fast forward to today. The average wage in the UK construction industry, which I’ll use as an equivalent, is about £30,000 per annum, or £120 per day. It seems that today’s British labourer is earning considerably more than his ancient Athenian counterpart.

    We must, however, factor taxation into our calculations in order to appreciate what the worker actually took home with him. Enlightened souls that they were, there was no direct taxation on income in ancient Greece. The large part of the expenses of the city were shouldered by the rich, who made their donations voluntarily – sort of – through the system of liturgy.

    In the UK today, on the other hand, somewhere between 40% and 55% of the average worker’s income is taken, one way or the other, to pay for the state, depending on whose figures you use (and that’s before you factor in inflation taxes).

    For the sake of simplicity, let’s use a 40% figure and go with an after-tax income of £72 per day – or £18,000 per annum. So even after taxes, the modern labourer would seem to be earning considerably more than the ancient – over ten times as much.

    As Greece was the most advanced civilisation in 450BC, perhaps we should only be comparing it to the developed world. But even if we factor in less developed nations, the modern worker appears to be earning more than the ancient.

    Globally, according to the United Nations International Labour Organisation (ILO), the average salary is $18,000 – say £14,000, or £56 per day. That would be £34 after 40% taxes.

    An Athenian warship, the trireme, cost about a talent to build (£12,000). A trireme’s unskilled oarsman would be paid 4.3g of silver each per day (£2). The cost of building the Parthenon was 469 talents, according to Professor Thomas Sakoulas. That works out, according to my maths (469 x 26 x 460) at about £5.6m. The cost of building the Shard, by way of comparison, seems to have been around £435m.

    Silver is dirt cheap compared to the past few thousand years

    To compare modern and ancient prices might seem like a ridiculous and redundant exercise – the two worlds are so different – but there is a point to all this. Measured in silver, salaries actually remained fairly constant until the 20th century.

    The Babylonian worker might have been looking at 2g of silver (92p). The Roman unskilled worker, like the Greek, might have been on around 4.2gs of silver, at least until Romans started chipping their coins.

    The wages of the medieval English worker seemed to have fallen back towards Babylonian levels by 1300. He got 2.8g, while a skilled city craftsman might have expected 5.6g – about half what an Athenian was paid.

    That would grow, however, over the next 500 years, until by the 19thcentury the skilled labourer might be looking at around 24g of silver per day, according to author David Zucherman, and an unskilled between a third and half that. The labourer in the 19th century was getting around double the pay of his 450BC Athenian counterpart. It’s more, but it’s not that much more.

    Compare that to today. I used the figure of £30,000 earlier – the average wage of a construction worker – £120 per day. That amounts to 260g of silver, compared to 11.5g for that Athenian worker. Today’s pay dwarfs that of any pre-20th century worker in history.

    Wages have risen, of course they have – but not by this much relative to the cost of living, status and so on within a society.

    The issue is not that wages have soared. It’s that silver – now that it no longer has any monetary role – has fallen to absurdly cheap (on a historical basis) levels. (It’s also absurdly cheap on a geological basis, as I argued here

    If today’s wages of £120 were to equal the Athenian equivalent of 11.5g (say 12g for simplicity’s sake), you could make the argument that silvershould be £10 per gramme (currently 46p per gramme). That’s over 20 times higher than today’s silver price of $18.50 an ounce – more like $400 per ounce.

    At $400 per ounce, not only do wages correspond, but so does the cost of building a ship or a landmark city building.

    One day we will get some kind of silver reversion to its historical mean. Does that mean we should all go out and buy shedloads of silver with the expectation of making 20 times our money?

    Not really. That day of historical mean reversion probably won’t come in our lifetime and most of us invest within three to five year time frames. But you should all own a little bit, just in case it does.

    ‘What wages in ancient Athens can tell us about the silver price today’ can be accessed on Money Week here

    Also by Dominic Frisby: Buy Silver – “Best Precious Metals Trade”

    [​IMG]

    Gold and Silver Bullion – News and Commentary

    Gold Suffers Worst Run Since October as Slide To $1,200 Looms (Bloomberg.com)

    Asian markets mostly in the red, as China’s inflation hits 2-year low (MarketWatch.com)

    Gold edges down to five-week low ahead of U.S. jobs data (Reuters.com)

    Indian Gold Imports Said to Almost Triple on Wedding Demand (Bloomberg.com)

    [​IMG]

    Rising Interest Rates Should Prove Bullish For Gold (ETFDailyNews.com)

    Sovereign & Corporate Credit Ratings: Slow Motion Disaster Spectacle (TrueEconomics)

    Bitcoin, Gold and the Risks of Bum Comparisons (Bloomberg.com)

    Where Are We Today? (Plata.com)

    Why Commodities Could Be on the Verge of a Massive Surge (GoldSeek.com)

    Gold Prices (LBMA AM)

    09 Mar: USD 1,204.60, GBP 991.39 & EUR 1,140.64 per ounce
    08 Mar: USD 1,213.30, GBP 997.70 & EUR 1,149.00 per ounce
    07 Mar: USD 1,223.70, GBP 1,003.56 & EUR 1,157.62 per ounce
    06 Mar: USD 1,231.15, GBP 1,004.74 & EUR 1,162.82 per ounce
    03 Mar: USD 1,228.75, GBP 1,005.12 & EUR 1,168.05 per ounce
    02 Mar: USD 1,243.30, GBP 1,013.17 & EUR 1,181.14 per ounce
    01 Mar: USD 1,246.05, GBP 1,007.18 & EUR 1,182.50 per ounce

    Silver Prices (LBMA)

    09 Mar: USD 17.14, GBP 14.10 & EUR 16.23 per ounce
    08 Mar: USD 17.40, GBP 14.32 & EUR 16.48 per ounce
    07 Mar: USD 17.70, GBP 14.52 & EUR 16.74 per ounce
    06 Mar: USD 17.81, GBP 14.53 & EUR 16.83 per ounce
    03 Mar: USD 17.66, GBP 14.44 & EUR 16.76 per ounce
    02 Mar: USD 18.33, GBP 14.93 & EUR 17.42 per ounce
    01 Mar: USD 18.33, GBP 14.89 & EUR 17.40 per ounce
    28 Feb: USD 18.28, GBP 14.70 & EUR 17.24 per ounce

    http://www.goldcore.com/us/

    SilverSeek.com

    http://silverseek.com/article/silver-very-undervalued-historical-perpective-ancient-greece-16389
     
  4. gliddenralston

    gliddenralston Gold Member Gold Chaser

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    Yea!! A good post with no Teflon Don cheerleading.
     
    searcher likes this.
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Weatherman likes this.
  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Second verse same as the first but with a bit more than the OP.

    Silver, 13 Stunning Visuals & Comparisons in Value
    Junius Maltby



    Published on Mar 17, 2017
    Another awesome visualization comparing a precious metals value to various sizes, institutions and financial measurements, brought to us by the Visual Capitalist and Texas Precious Metals - presented here by JUNIUS MALTBY. Thank you for watching. Join the conversation!


     
  7. southfork

    southfork Mother Lode Found Mother Lode

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    Seems the world is falling apart and metals cant hold their own, don't know
     
  8. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    REALIST NEWS - Another Item That Needs Silver: Films for flexible displays, touch screens
    jsnip4



    Published on Mar 23, 2017
    Today's Playlist: https://www.youtube.com/watch?v=B-B0d...

    Article: https://m.phys.org/news/2017-03-trans...

    Donate to support the show: https://www.paypal.com/cgi-bin/webscr...

    Bitcoin Donation: 151w21QWRTAdKKXh8aKFmn6hBNvTman9V7
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    http://www.jmbullion.com/?utm_source=... (Recommended for Silver and Gold Purchases.)

    http://www.realistnews.net
     
  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  11. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Take this fwiw and dyodd.

    Silver Production Costs
    Junius Maltby



    Published on Mar 23, 2017
    Please, before you delaminate, spaz out and go full autistic in the comments - finish the video. The Junius Maltby channel takes a moment to explore and discuss SILVER PRODUCTION COSTS. LINK TO REPORT: https://www.silverinstitute.org/World...
     
  12. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    How Sustainable is $100 An Oz Silver?
    SalivateMetal



    Published on Mar 25, 2017
    The "what if" scenario of the present age regarding silver prices.
     

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