posted on Jan, 16 2011 @ 09:58 PM
From the years 2000-2009 the world produced 6.3 billion ounces of silver from mines, 1.8 billion ounces reprocessed from scrap silver, and over 500
million ounces sold from treasuries
This amounts to a total silver supply of 8.6 billion ounces from 2000-2009
Silver used in industry from 2000-2009 amounted to 3.85 billion ounces
This leaves us with 4.75 billion ounces of silver that was used to make coins, jewelry, medals, silverware, and in photography.
The advent of digital technology has lessened the demand for silver in the photography industry
In 1998, photography used 31% of annual silver production. As of, 2007 silver demand in photography has dropped over 50% using up only 14% of annual
This is a very interesting fact as we have freed up almost 150 million ounces of silver annually for other uses.
With the prices of silver increasing almost 1000 percent since 2000 and almost 4.75 billion ounces of silver in the market from just this passed
decade leads one to questions whether a squeeze is coming or has that squeeze already occured?
Almost 5 billion ounces is in the marketplace apparently and we are at a loss for silver? Ask yourself just what private banks or people were buying
silver pre-2005 under 7 dollars an ounce.
There is just way to much of the metal out there and the charade being put on to buy silver and pay 30 an ounce for silver is ludicrous. Also, the
rumour that JP Morgan is short on silver HA
Yes, maybe the government is getting low on silver reserves but that does not mean our private bankers are low. They are the ones who accumulated over
2 billion ounces under 5 dollars to sell back to you at 30 when you think it's value will remain there forever.
Anywho, the artifically made squeeze on silver is already at it's peak (well the run could last longer) but the one truth is that the price will
come back down again
2010 silver production rose dramatically and production will only increase