Part of the reason,
I like silver so much, is the fact that it doesn't force me to choose if the economy is gonna tank further ( which I definitely believe) or it's gonna miraculously recover from disaster of the Bush years. Also, every indication from the gov't shows that rather than facing problems, they'll just continue to kick the can down the road and print more money, cuz it's MUCH easier. After listing the MANY uses of industrial silver, this article goes on to say,
It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today.
4 billion dollars to buy it ALL? Just a matter of time 'til someone (like the Hunt bros, in the early 80's) tries to corner the market. With silver nearing $30/oz today, I think it's already begun.
It is estimated that more than 95% of all the silver ever mined throughout history has already been consumed by industrial use. That silver is gone forever, unrecoverable at any price. In 1900, there were approximately 12 billion ounces of silver in the world. Today, that figure has fallen to about 300 million ounces of above-ground, refined silver. This means that at current prices, it would only take about four billion dollars to purchase all of the above-ground silver in the world today.
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