Why Silver Will Smash Through $50

Silver is trading at $47.98 per ounce as I write this. The all-time intraday high here in the U.S. was $50.36 way back in January of 1980. That was the peak on New York's COMEX (commodity exchange). However, silver has never closed a trading day above $50. And that's the official measure of an all-time high. Once silver briefly surpassed $50 in 1980, New York's COMEX essentially killed the momentum. COMEX executives decided that since the Hunt brothers were cornering the market, they would restrict trading to sell orders only. And they jacked up margin (loan) costs for speculators, causing…