The debt bird brain was over 1.1 trillion!
From 16.7 -17.8!
I think there is a math class available at some Skool for the really SMRT people so maybe you should find one!
The most ever mined birdbrain is 800,000,000 ounces in a year and with all that there was over 100,000,000 million ounce deficit:)
Your refried bean brain cant figure out simple math!
Lets see how much recycled silver they get this past year!
Now with all that extra silver you talk about the hke is out the rcm ran out so if they had all this inventory why did they run out?
Come on little one explain it as we would all like to know?
I know now if you could just sell me all I can hold in my big trucks for 4$ an ounce since it isn't worth anything anyway?That away you can call me an even bigger fool so please help me out here I like being that kind of fool!
Wait till you see multiple ounces in the box and a pan full of gold ready to be weighed!
What you don't want to see is an ounce at the end of your box which hasn't happened yet:)
Did some field work at a friends mine at the end of the year and what we found wasn't good!
He did great for the year but a longer box and a different slope and more frequent cleal ups would have netted him about 30-50% more!
I would love to set up his plant for next year and split the extra that he loses!
Might still help him with that!
6 colors per pan after the box is way to much being lost!
That equals approximately 2-6 ounces per day(:
Times that times 40-60 days and you got one heck of a summer!
All one has to do is follow over the past 13-15 years to see where this is going!
From the low of 4$ to the high of 49$ back to over 4 times higher than when it first started and now it will go up 3-4 times what it is today and then you have what will happen in the next 1-3 years:)
Gold another example from 1970-2014 it started at 35$ an ounce to 850 back to 280's in 2000 then back to 1900 and back to 1245!
Don't take a genius to figure out where this is going!
Oil was no different except you couldn't just store it in your closet or safety deposit box as it would have oozed out!
I bet we didn't have 1.2 billion ounces in oversupply in the 90's!
The article I read said all those excess silver surpluses were exhausted by 2006!
By 2008 they were in a very steep decline and had to get the mining sector motivated which took money and lots of it and in 2011 had a small surplus!
That was eaten up in 2012 and by the end of 2013 that was gone as well!
So my point is this where is all the silver going to come from in 2015?
300 million ounces is pretty close to what the market will be short this year so again where will the silver come from next year?
HKE and RCM all reported backordered silver so the squeeze is coming:)
You failed to note that the scamstitute also reported 1 billion ounce deficit for the past 10 years!
When all silver is exhausted and mining is pretty much closed down via the cost of production and then you have the Cannington mine about to run dry in just a few years where will the new deficit come from?
There are many mines that closed the past 2 years that production costs exceeded 30$ an ounce and many more that have closed this year due to high production costs and low prices!
Like I said 30 by May!B4 the scamstitute comes out with their yearly deficit claims!
.01 per person mined this year is not even close to enough per person!
For those of you math deficient people(shorts)that's one hundredth of an ounce per person!
Now go look and see what a cell phone has in it!They cant keep this up for another 6 months and have enough to go around!
If 10000 people take just 1000 ounces from each country like China Russia and India and European countries the silver market is toast!
Now add that to the rest of the people taking 10 here 4 or 5 there and you will have 4-500,000,000
that is being taken from the already exhausted system!
That is reality!
Exactly whats going on!
They can do what they will but the demand has gone way up since they shorted this beyond belief!
How can they cover if no one is willing to sell it cheaper and everyone runs out?
Silver is a vital metal with its uses so wide the Oceans couldn't contain the vast uses it has!
.01 per person mined as my math was just a bit off as I added the scrap b4!
1 hundredth per person!
Yes but you also have to look at the short supply issue!
The rcm the hke and many others backordered or no way of ordering at all!
The shorts are not the brightest here at this point!
Production is down this year while demand is through the roof!
They might be able to push it down a few more pennies but don't expect much more than that!
I don't know?
Currency based assets is worth what?
Is there a difference?
Then again metals are valued in currency also?
I bet some day down the road no amount of currency that is unbacked will be able to buy any precious metals!I know when Mexico had their devaluation in the 70's no one would exchange silver or gold for the peso at that time!
Germany was the same way!
Then again you had to have a wheelbarrow just to be able to buy a loaf of bread but could buy the same loaf with what gold was priced at b4 the devaluation!
It is a perception and I guess it depends on what yours is?
Tough question to answer!
They are about to get caught in the big flush!
Cant take what they cant get their hands on:)
If they come over I have some metal they can have:)
It wont be the type they want but I will give it to them one piece
at a time:)lol
Also hard to wipe me out!Silver prices sure cant do it!
It is in dollars!
I have in the past seen them a bit behind but for the most part they follow spot!
Maybe I will take a look and see if Kitco goes up to that amount!gl
Also all one has to do is see how much silver there is per person on the planet being produced yearly and then see what just one smart phone has for silver in it and do the math!
Then you see why none of this is sustainable never going to happen then you have the costs to mine put on top of it all!
All silver producers are underwater at 20 so at 18 they can survive?
Just saying at current prices many mines are shutting down and they will not re-open until they reach profitability!
Production will take and has taken a huge hit this year!
Stocks are out and in close proximity of being out every where!
Paper has no bearing when this happens!
The idiots that be are trying to cover their short at 8$!
There is now a 9 billion short that has no way of being covered!
The dive in price was the last attempt to cover these losses but all they are doing is going to make it worse!
The amount underwater is more than can be produced in over half a years time!
Thus they don't have a chance at being able to make it happen!
Now if production was 2-3 billion ounces a year they might have been able to pull it off!
Just like in 2011 the paper game is about to get hammered into the ground as they lose their control due to production forces!
I for one am not a paper guy but the paper people have created themselves a major headache!All the paper that is short out there at present not counting the huge 8$ short from years gone by cannot be physically possible to cover at current prices!This has been a multi year squeeze that hasn't went well for the early shorts and it sure wont go well for those short at present!
To put it into perspective you have mining at less than 800 million ounces and a demand well into the billion ounce range!
I know you have scrap but at what time will the already mined silver scrap run out also?
I hear silver is out in Asia?
I also know of back orders from the rcm!
I wonder if the u.s. mint shuts down production earlier than mid December to keep from showing a shortage?
I always go with kitco!
They follow spot pretty close!
Not sure of that site?
soon .24 will look like a small blip on the radar anyhow:)gl