``If you look at the silver price in US dollar terms it does look like quite a parabolic, bubble-like rise. However, when you just discount the silver price by the US Government's own CPI Index - which they say is a proxy for inflation - the silver price looks like it has not done much at all. And when you take Shadowstats.com's CPI - which just calculates the Government's CPI the way they used to calculate it in the 1980s before they learned how to hedonistically remove the inflation - silver has been in a long bear market since 1979... And compared to the growth in US Federal Government debt, silver has underperformed by a factor of five. One bubble is about to pop... and it isn't silver.''

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