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David contrasts today’s market with that of the bull market of the 1970s. Back then the coinage had just separated from the silver standard to today’s fiat standard. People at that time understood this would lead to problems. However, few recognize this fact today. He says, “From a value investor perspective, you need to consider that on an inflation-adjusted basis; silver is cheaper than it has ever been.” This is due to the amount of money printing in the world today.