1B people will strive to own their first 10 ozs of silver. These are the Chinese, Indians, South Asians, and intelligent people of the developing world. That's 10 BILLION OZS!
Then you have 100M people who will accumulating 100 ozs. Perhaps buying a 100 oz JM bar or maybe a middle class guy who accumulates a few hundred dollars worth here and there. That's 10B ozs.
Of course, not everybody is real poor and can only afford 100 ozs LOL. $3000 is less than a 7 year old beat up Kia. There are tens of millions of people that realize owning just 100 or 200 ozs of silver is not enough. That's only 2-4 ozs of gold value (of course later it will be 15:1 and you can trade in silver and get a lot more gold) These kind of people will start out with a few hundreds ozs and realize a few thousand is very prudent, and secures their family's financial position for the long haul no matter what. This collectively could be tens of billions of ozs future demand.
What about ultra and super high-net worth people? Don't think they won't want silver after they figure out silver is many times better than gold because it has all the properties of gold, but has supply/demand fundmentals that put gold to shame? Soveriegn wealth funds, pensions, institutions, endowments, etc etc. What about when people realize their paper silver isn't worth SQUAT? What about that? Again, tens of billions of ozs of future demand.
I haven't even mentioned nations, and their CENTRAL BANKS, who will begin reaccumulating silver as a RESERVE ASSET again. OOOPS! ALREADY HAPPENING!!! China hoards ALL their silver, because they aren't MORONS and know it will be REMONETIZED!!!!
I personally hope silver goes higher next, but I know if silver retests $26 or even breaks lower ALL AVAILABLE ABOVEGROUND SILVER WILL GO INTO TOTAL LOCKDOWN and shortages that make 2008-9 look like child's play will be the order of the day, setting off the final short squeeze. JPM will switch and go long and make more money than anyone out of the deal, this is how it works.