silver is the oldest form of money in the world.... all things old become new again... Utah and AZ have already made silver and gold legal tender. more states to follow.... doomsday preppers are increasing by day.-- they hoard gold and silver and are the strongest holders out there.
industrial uses are increasing by the year.... as smart phones/tablets continue to get thinner and more powerful, manufacturers are forced to cram more components in smaller spaces--- this has forced them to use more and more silver- as silver is the most effecient medium for transferring electircal signals. don't forget everything is becoming digital in our world, and all digital signals are in essence electrical signals (where 0 to 2 volts might represent logic 0, and 3 to 5 volts logic 1).
there are other industrial uses, which you all know about, specially in the medical field, and with obamacare going into effect next year, this will in general increase demand for medical equipment. Not to mention that silver is a major component in solar panels and use of solar is only going to grow for the next 5 to 10 years.
So you assumption that silver is going to 2 dollars because it didn't act as it should after cyprus and north korea events makes little since. first off, I would hardly call those major international events. If there's a major international event and gold and silver don't move (like a debt default, a real nuclear missle being launched as an aggressive act of war-- not just a test missle into some ocean), and gold and silver don't move-then your argument will carry some water.
But silver has 3 other major purposes aside from "flight to safety", along with it's bigger brother gold. Silver's myriad industrial uses, as well as a storer of value and hedge against inflation and ever increasing US national debt-- (and don't forget the last time silver and gold had a major move to the upside was during the debt ceiling fiasco of 2011).. can you say debt ceiling fiasco 2013??
got 2K here... bought in 4 different buys from 27 to 36...... average cost is about 28.8..... been selling call options every month to generate some income, so not sure what my true cost basis is at this point.....rough estimate, I've made about $3,700 selling out of the money call options on SLV. everyone who is long SLV and under water should be selling out of the money call options to generate monthly income as you wait for your silver to go back up.
there's actually a new silver fund by CS that does just this..... symbol is SLVO they sell covered call options and pay a dividend every month.