What is money? – What backs money? – State indebtedness – Hyperinflation – 98% loss of value – The gold standard – 6,000 years with no complaint

Gold or silver – The enemy of gold: gold itself – Silver is decreasing – Silver deficit – Industry – Everything needs silver – Photovoltaics and textiles – Where silver is mined – Replacing silver – How much does a mine cost?

What is the Gold/Silver ratio? – Gold and silver reserves – Less silver than gold – COMEX – Exchange vs. reality – Silver-based currency – Asia and the Middle East – Growing imbalance – Silver: the metal of the future

Risks do exist – The “too good to be true” syndrome – Price isn’t everything – Five principles of caution – Counterfeiting silver – Counterfeiting gold – Counterfeiting diamonds

What is the state of the economy? – Percentages – Absolute figures – How much do you need for a reboot?

The world is ruled by ounces – Liquidity is crucial – Do you know tael and gallon? – Europe is small – Industrial is not Investment – The exchange sets the standard

Coins and bars – Smaller investments: coins – Liquidity and premium – Medium investments: add bars – Larger investments: fixation purchase – Big investments – 5 million

Do you have a crystal ball? – Long-term perspective – Lump-sum purchase – Regular investing – Market timing – A typical newbie trap – Price levels

An insurance against collapse – Dollar, euro, and koruna in trouble – Coins and bars: forever – ETFs – Commodity stocks – A winning combination

Prices – How coins differ – Buyback – Coin prices – VAT – Postage and packaging – Slovakia – Price fluctuations – Analysts’ opinions – Silver as currency – Diamonds – Coins or bars – Counterfeits – Ounces – Certificates