Andy Schectman reveals the potential power of silver: it could increase your investment 50 fold with one important event.

by | Jun 5, 2023 | Self Directed IRA | 11 comments

Andy Schectman reveals the potential power of silver: it could increase your investment 50 fold with one important event.




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The popularity of Gold IRAs in America has exploded recently due to a combination of factors, including economic uncertainty, tax advantages & the need for diversification in investment portfolios.

Many investors view gold and silver as a safe haven asset class that can provide a hedge against inflation and protect their wealth in times of economic downturns.

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As more people become aware of these benefits and seek to diversify their portfolios, the popularity of Gold and Silver IRAs is expected to continue to grow and hence making them even more reliable.

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The blog covers topics such as the benefits and drawbacks of investing in precious metals, the various types of gold and silver investments available, and how to set up a Gold IRA or Silver IRA.

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The price of silver has been on a rollercoaster ride in recent years, experiencing highs and lows that have left investors wondering about its true potential. According to Andy Schectman, CEO of precious metal dealer Miles Franklin, there’s one scenario that could see silver soar to $1,000 an ounce, turning a potential profit of 50 times your investment.

In an interview with Kitco News, Schectman explained that this scenario would involve a collapse in the global financial system. “If that ever happens, silver will scream to $1,000, minimum,” he said. While this may seem like a doomsday prediction, Schectman believes it’s a possibility given the current state of the economy.

With central banks around the world printing money at unprecedented rates and governments racking up massive debts, Schectman believes there’s a ticking time bomb waiting to go off. “I think we’re in a period of time where there’s a lot of uncertainty, and I think the financial system is much more fragile than people give it credit for,” he said.

If this were to happen, Schectman believes silver would be the go-to investment for anyone looking to protect their wealth. “If you have extreme inflation, which is the result of a collapsing financial system, silver has a history of being the world’s best currency,” he explained.

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Silver has been used as a form of currency for thousands of years, thanks to its properties such as durability, divisibility, and rarity. Unlike paper money, which can be printed at will and loses value over time, silver retains its value and can be easily traded and stored.

While Schectman’s prediction may seem far-fetched, it’s worth noting that silver has experienced massive price spikes in the past. In 1980, silver reached a peak of $50 an ounce due to a combination of factors, including inflation, a weak dollar, and the Hunt brothers’ attempt to corner the market. If a similar scenario were to occur today, Schectman believes the price of silver could go even higher.

Of course, investing in silver is not without its risks. Precious metals can be volatile, and the price of silver can fluctuate widely in a short amount of time. It’s important to have a long-term strategy and diversify your portfolio to mitigate these risks.

However, if Schectman’s prediction were to come true, investing in silver now could lead to substantial gains in the future. “The potential upside is enormous, 50 times your money or more,” he said.

In conclusion, while there’s no way to predict the future, it’s worth considering the potential of silver as an investment. If a collapse in the global financial system were to occur, silver could be a safe haven asset that protects your wealth and potentially offers massive gains. As always, it’s important to do your research, understand the risks, and invest wisely.

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11 Comments

  1. Domestic Energy Assessments

    LMFAO!!!.. I have been getting notifications that Silver is about to explode for the last 15 years!!.. When are people going to realise gold is gold not silver!!

  2. Spartan93

    I’ll be back in three weeks and it will be around the exact same price

  3. I Love Trance!!! !!!

    When I buy silver or gold I don’t care the price, honestly. I just buy it and store it. Happy it went down today lol. Cheaper for me. Only physical for me too.

  4. oldcards65

    Been saying for years silver won’t go over 30.00 an ounce. Don’t forget these guys sell the stuff.

  5. rechitsapivo

    This is what's called "pumping and dumping". I still have 400 oz from 14 years ago that I bought for $18000. They were singing the same songs about the need to buy and then it collapsed

  6. Dennis van der wende

    and JP Morgan???? first we need to free the spot price of the setting paper price by JP Morgan, WE LOSE

  7. Jamie the angle

    Well——–He has been talking about that for decades. Sooner or later. He will be right.

  8. mike

    your wrong it's 16 days lol

  9. Delmonico Farquhar

    I agree with Andy that there's too much positioning going on to ignore. People aren't buying huge amounts just for fun. I suspect that we're seeing the anticipation of higher prices and shortages, so they're locking in prices and availability now. Investors, take nore.

  10. Mike B.

    Comex is done put a fork in it..

  11. Barry McBride

    They don't want to be priced out of the metals. When it goes it will be fast.

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