The fatal flaw in the silver story is that silver pumpers are counting stored silver as "demand".
Producers produce 1 billion ounces of silver each year. Only half of that is used by industry, and the other half goes back into storage in the form of coins and bars and other forms of stored silver.
Only half of what is produced is actually "USED" but even much of that "USED" silver is NOT truly "USED", because it gets recycled after it it used.
Silver moving into storage is NOT true demand. It's actually just additional supply. When you buy silver to stack it under your bed, you're not creating true demand, you're just creating a mini-silver supply warehouse. All that silver will flow back into the general supply at some point in time.
Thousands of former silver stackers are dumping their mini-warehouses of silver on ebay every day.