Silver is called a precious metal for a reason…it’s precious as in rare. In the debt fueled monetary madness where all financial assets are being propped up by massive currency creation things that a rare will do well financially…in the end. Rare assets: fertile farm land (ask CM about that), precious metals, rare earth elements, rare artwork, etc. Silver is a long duration (rare) asset without counterparty risks with also is a hedge against currency debasement, and has tremendous industrial usefulness as it’s the best conductor of electricity of all the metals. As PP has demonstrated many times over t the years this world is past peak production of almost all commodities and it requires more energy & effort to obtain…deeper & deeper mines in more obscure locations, etc. The low lying fruit has been plucked. We aren’t running out of oil or silver; the return on investment is going down fairly rapidly.
And yes, there is a “shortage” in the context of the paper claims of silver exceeding actual physical silver by > 70+:1
There’s another side to the silver yo-yo. I’ve been a jewelry artist and silversmith for the last 15 years. It was running about $7.50 an ounce at that time. I’m very aware of the constant fluctuation of per ounce valuation. Silver goes up and silver goes down. I’ve never been particularly happy when it goes up because it costs more to make jewelry and it’s harder to sell it. It’s always a question’ “Do you price a product based on the old value or the new one?” The silver providers raise the cost at every jump in per ounce value and rarely decrease it back to where it used to be - even if the value technically goes down. When what you have created is worth less than the melt price, it’s pretty depressing.
Myself and my children will always wish to decorate our partners with precious metals. We would always be willing to barter/pay for many delightful forms of precious metal decorations, esp. when from a known entity. Build your fidelity, may all who know you be impressed.
NV Jana, post a link to your work please! Maybe some of us silverbugs would like some. 
Robert Mish, whom I interviewed in the video above, just sent me this update on his latest observations/thoughts:
aftermath: Monday was overwhelming while the price of paper silver was bid up over $30 at one point. Physical silver was either non-available or limited amounts at $4 to $10 premiums over paper. Tuesday morning remained busy while paper trading returned to the $26+ area of the last Friday. Physical remained unavailable or priced at elevated premium for delayed delivery. Wednesday much a normal day, paper silver flirted with the $27 area. The social media trader crowd was confused and quiet. Astute veteran buyers/investors returned to the market seeking silver in any form within reason, live or delayed. The picture on the coin or bar, and the size, was less a concern than just getting a locked commitment. Outlook: There probably will be at least one more attempt to move the market price higher, perhaps to as much as $35 by the time March COMEX contracts are due for delivery notice Feb 26. Resistance is first $28-30 which was Monday’s range of heavy trading. The bull strength will likely come from the closing of hedge shorts plus new large spec longs who will now be more confident that awareness of silver’s longterm prospects has been brought to the attention of a wider investor audience. Once long call options expire Feb 23, institutions holding COMEX 1000 oz bars who may have sold the calls against their positions will have less reason to do it again considering the preview this week of the power of grassroots investment campaigns…some that may get smarter, more frequent and less stoppable (short of govt intervention) as time goes by.
Dear Adam,
I find it a “sign” that discrepancies are not used by marker makers to turn a profit. Yesterday (Wednesday) I looked on Sprott - their Silver Maple Leaf was trading at a 32% premium to spot. Granted a player with a neutral position who can’t source physical can not arbitrage - but when a premium of that size does not get used in a functioning market - trading futures and options, that seems to me to be a sign of a “broken” market.
Granted the Silver market is readjusting to a “shock” - so in time the volatility normally should dampen.
I do not see how JPM can knock down the physical price of Silver unless they plan on selling some of their physical supplies - this was suggested by Greg Mannarino - suggesting they will sell PAPER silver. They could sell huge quantites of call options at a 30 dollar strike price stopping the rally.
The Banks / Central Banks (of Western nations) are in an all out war on precious metals - nothing new to the gold bugs.
Any comments on the above points would be appreciated. Personally I am looking for a “discussion”, not some sort of They will never let it happen statement.
I can’t imagine suppressing the silver price is to keep up the appearance that everything is okay with fiat currency. This continues until fiat currencies collapse. Either they do this to privately buy as much cheap physical silver as possible in anticipation of the collapse, or they are in a paper ponzi scheme that they cannot get out of because otherwise the house of cards will collapse. I think both.
Long bond yields up - check
USD up - check
(paper) gold/silver smashed - check
Big treasury auctions next week…not coincidence.
Next week after Tuesday/Wednesday looking like might be a good physical buying opportunity.
BTW, there are alternatives to PMs for financial benefit. Agriculture is one such area. True supply/demand is more difficult to manipulate in the these areas in these hyperfinancialized engineered markets we live in today.
OK They knocked the paper price of silver down to, in Canadian Dollars, 33.63 on Sprott Silver Maple Leafs are offered at 45.30 CAD - time 19:32 Paris - a 35% premium.
Big deal - you can’t get delivery at the futures prices are quoted at. Totally fake, and irrelevant - but alot of people are going to say - told ya so.
Look! A reserve bank actually admitting they cause asset price increases by printing money ?
https://i.stuff.co.nz/national/politics/300223358/reserve-bank-repeatedly-warned-government-money-printing-would-lead-to-house-price-inflation
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Gold last 15 years plus 10% annually. Forget the silverhype.
everything according to silver is a waste of time. Your CB has silver?
Silver is a long duration (rare) asset without counterparty risksGold is free of VAT. Silver not. #counterparty
The TSX Venture is full of junior resource stocks (silver, gold, base metals etc).
Today it broke to a new 8 year high.
It’s also recently broken out of a Descending Wedge pattern going back 12 years.
Here’s the monthly chart.
https://www.tradingview.com/x/mugKKzMn