The Big Picture for Silver.

No nation on earth uses silver or gold as a circulating medium of exchange, or common currency.  This trend to not use silver started over 150 years ago, and has come to an end.  If monetary demand for silver changes, it can only go up.  Money is also a store of value, and people are recognizing that more and more.  About 65 years ago, at the end of WWII, the world entered the age of electronics, and the demand for silver in electrical contacts soared tenfold.  This has consumed more than half of all the silver ever mined since the beginning of time.

Supply and Demand for Silver.

The world annual mine output for silver is about 600 million oz., with about another 200 million oz. from recycling, and another 100 million oz. from selling from other sources.  Industrial consumption is about 45%, jewelry consumes about 25%, photography is down to about 15%, leaving about 15% for investor demand.  Investors buy about 100 to 150 million oz. of silver per year, which is barely $2 billion.  Yet the BIS estimates that most all of the worlds’ banks have $200 billion in “other precious metal” (or silver) notional value worth of derivatives on the books, indicating that all paper silver is all fraud.  Paper money, unbacked by silver, is fraud, too.

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