Personal Finance Articles

SILVER: GAME OVER!

by | Personal Finance

Faint Heartbeat

His dad, a small-time mechanic, was infatuated with go-karts and little motorbikes. In the German countryside, Rolph showed little Michael how to build and operate karting cars and the little kid fell in love with speed.

He’d built his little go-karts from used tires and scrapyard metal parts. 

This wasn’t a wealthy family, not from the kind that births Formula 1 dynasties. Usually, the teens who compete in motorsports come from wealthy upbringings. It is costly to participate in non-professional competitions and fund the training, so the profession is dominated by sons of billionaires and multimillionaires.

Michael Schumacher’s father was a baker by trade and a mechanic by passion and had a little diner in a quaint and picturesque area of Germany. Michael was driving on improvised contraptions, but he could take corners at speeds that others were afraid to even attempt.

He also didn’t care about weather and drove in the rain, in order to get comfortable with conditions that offered little tire traction, as a young teen.

By sheer luck, substituting for an injured driver, one of the smallest and slowest racing teams on the paddock asked him to take the spot of the missing F1 person at the wheel. Michael immediately impressed other teams, even though he was extremely young and competing in the era of the late Ayrton Senna and two other legends.

It was known that Schumacher’s genius was in his ability to drive fast, consistently. His focus levels were beyond belief.

After moving to Benetton, a team owned by the clothing manufacturing family of the same name, Schumacher won two back-to-back championships and was considered an idol.

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    Ferrari was in shambles at the time and Michael decided that the greatest challenge of his career would be to build and design and ultimately drive the iconic Ferrari in a championship season, but he failed in his first, second, third and fourth year with the team.

    Doubts emerged, within both the team and around the globe, as well as in Michael’s heart – perhaps he wouldn’t be able to replicate his championship form from 1994 and 1995.

    In the 2000 season, after losing the championship on the last race for in seasons prior, Schumacher was again behind, but rival Mika Hakkinen made a mistake, allowing Ferrari to pass him, a lead that Michael maintained throughout, winning his first championship with Ferrari.

    Now, with the weight of the world lifted off his shoulders, Schumacher went on to dominate the sport, winning five titles in a row.

    Several years later, already in retirement, Michael and his son skied the gorgeous slopes of Méribel, France. Though he was an expert skier, he fell and hit a rock, causing severe damage to his brain, despite wearing a helmet.

    To this day, eight years later, Michael has not been seen by the public and treating him costs hundreds of thousands of euros every year to the family, as they maintain their privacy in their Lake Geneva compound.

    From global icon to being next to dead took less than a minute.

    Life is full of drama and surprises, both good and bad; the fact is that anything can happen to anyone. When I saw silver crashing this week, closing at $22.49/ounce, I immediately shifted my mindset, as did the medical crew on the ground, calling for helicopter rescue, when they saw Michael’s head wound. This saved the life of Schumacher, whose brain damage could have been fatal, had another minute gone by.

    As he needed medical support and was operated upon, so does silver stand right on its support line of $22.50/ounce and needs immediate help from buyers, or risk losing it and falling below $20/ounce and even all the way to $15.30/ounce in a full collapse from its technical analysis range.

    In essence, if silver fails to bid this week and the next, it’s bear market land for the metal.

    Best Regards,

    Lior Gantz
    President, WealthResearchGroup.com

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