USGS "Silver first element to become extinct." "By 2020!"
Well of course it won't exactly be extinct as bullion holders and jewelry owners will still exist. What the USGS means it will be the first element to be extinct in the sense as NOTHING will be left to be mined!
The USGS and other sources state that silver will become so difficult to mine that it will not be profitable to mine without a large price increase. Higher diesel fuel costs and lower ore grade are making silver production more difficult forcing mine closures each month.
We currently have about 15 years left of Silver in the planet, but we only have about 7-8 years left of economically feasible Silver available for extraction. So combined with Silver being far rarer than Gold in investment form, prices need to increase 1000% before dedicated Silver mining operations start and the world is now buying 35 times more Silver than Gold, the next 1-5 years are going to be extremely interesting.
We shall see. Especially as more and more stackers continue to buy up supply... I expect the numbers to continue to grow.... I plan never to stop. Not until I see Triple digits. Money is easily printed. Mining a material so in demand as silver is is not so easily gotten. As for now they can manipulate the price of the mining by calling it a By product... But how long will that last ? What will be very interesting is to see if the mining of silver starts to retract as more of the metal gets harder to mine. So lets just see them keep this pace up. Also lets see the recycling numbers keep pace as well.....
you started out fine, something somewhat verifiable and accurate.
then ended up saying only 15 years of silver left. Of course implict in that statement is the reality it would take billions to get that last silver, but somehow that doesn't seem to bother folks...they will say it anyway.
I also don't think the USGS said "silver will so difficult to mine it will not be profitable without a large price increase"
You must work for the government!
You spout about stuff you know nothing about!
1-silver already is lower than production costs!
2-if the price don't go up there will be no silver in a couple of years not the 6 people say!
3 If miners don't make money and are now losing money how can they keep producing it?
Silver will never ru out it will cease to be mined!
No difference if it isn't mined there wont be any now will there?