An interesting look into silver’s history as money along with the current supply vs demand numbers.
Topics in this video include:
The four attributes that made silver so valuable to early civilizations:
1) Malleability 2) Aesthetics 3) Antibacterial 4) Rarity
Supply and Demand – Traditional Silver Uses:
1) Jewelry 2) Coins, medals 3) Silverware
Industrial Silver Uses:
1) Photography 2) Electrical 3) Soldering 4) Ethylene Oxide 5) Photovoltaic Cells
Silver Demand by Country:
1) United States 2) Germany 3) India 4) China 5) Japan (Make up over 60% of global silver demand)
Silver is Supplied from 3 Main Sources
1) Recycling 2) Net Gov’t Sales 3) Mine Production
It all started in the late 1970s when the Hunt Brothers attempted to corner the silver market. The COMEX implemented new rules that heavily restricted the purchase of commodities on margin and the price plummeted. To avoid the crash of several Wall Street banks, a number of banks bailed out the Hunts with a $1.1 billion loan.
Majority of Global Silver Production has been consumed
Some estimates say up to 95% of total supply has been consumed and thrown into a landfill.
Visit the 2013 Price Predictions Page for a comprehensive list of forecasts by Jim Rogers, Marc Faber, George Soros, Gerald Celente, Peter Schiff, Eric Sprott and more!