Please bear with me while I repeat myself about how tiny the silver market is. Let's start with the facts.World annual silver mining adds about 600 million ounces of new silver, that includes all silver as byproduct supply from copper, gold, lead, zinc and other mines. Recycling contributes about 150 million oz. That's total supply.
That is balanced on the demand side by industrial demand, jewelry demand, photography demand, and investor demand.
Industrial demand is about 45%, jewelry is about 25%, photography is down to about 15%, and investors demand about 15%.
Investor demand is about 100 million oz. per year, which, at $18/oz., is about $1.8 billion dollars.
You can verify those stats at http://www.silverinstitute.org/ or several other outfits that send out silver surveys.
http://www.silverinstitute.org/supply_demand.php#demand
M3, a measure of money in US banks, is about $14 trillion, but several trillion is stored with the Fed, and not counted as M3, and the Federal Budget deficit exceeds $1.5 trillion of new money, so the total is now about $18,000 billion. (more)
Zero to $1.7 Million in
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