There’s No More Silver?

There’s No More Silver?

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Welcome Back my friends thank you so
much for tuning in today I was supposed
to attach a GoPro to my head climb in an
airplane fly up in the sky and when I
was in the cabin of the airplane but
with all of you watching I was going to
scream two people’s names and as soon as
I screamed those people’s names I was
going to open up the cabin door and jump
out of said airplane but I live in Ohio
and if you are someone that knows
anything about anything Ohio weather is
not California weather so they had to
cancel the Skydive and we have to
reschedule but uh that means the
giveaway is still open and this stunt I
could I guess you could call it is going
to be filmed so you guys will all watch
me do this it’s supposed to be a silver
giveaway in celebration of hitting
100,000 subscribers entry videos in the
description or dep pinned comment
so may the luckiest two stackers win
this question shouldn’t be controversial
but it is and not for the reasons that
it should be if it were to be
controversial in a in a rational fashion
what do I mean by that that sounds like
a whole bunch of word salad it actually
makes a lot of sense is there really a
shortage in silver you would think the
controversy would be yes there is or no
there’s not but that’s not where the
controversy lies it lies in how
deceptive how
corruptive and how deep this Rabbit Hole
truly goes yes of course there’s a
shortage of silver but when you just
skim from the top you will see some data
but when you start to dig deeper like
this article goes into with Ted Butler
then you start to see how corrupt how
illegal and how Sinister this entire
controversy goes how deep this Rabbit
Hole truly goes so we’re going to dive
into this I found this article was
posted yesterday from uh FX Street
titled is there really a shortage in
silver and going hand inhand with this
article we also have some other articles
that came out today actually this came
out today April 23rd Silver’s solar
demand tops forecast surging 64% last
year just solar alone jumped
64% and on top of that we have another
article that came out yesterday from
investing news news.com titled silver
due to record second highest deficit in
20 years with them forecasting a deficit
of
25.3 million oun hundreds of millions of
ounces in the red so it’s getting worse
not only that though we also have news
that came out today silver imports from
UAE route Rises sharply in the first
three months of the calendar year over
40% of silver Imports in India in 2024
has been coming through the UAE route
India actually imported
265 more silver from February this year
than last year so we’re seeing this
massive Surge and it’s not just India
we’re also talking about China switching
their focus to Silver and not so much
gold anymore as well so this is all
coming along as you know in real time
right these two all these articles came
out within the last 24 hours a lot of
them just a few hours ago so to revert
back to this original question is there
really a shortage in silver knowing that
the past three years we’ve had
record-breaking Supply deficits hundreds
upon hundreds of millions of ounces in
the red rapidly growing Demand with a
diminishing Supply we’re talking about
numbers that we can’t even fathom
especially since they don’t incorporate
military and Aerospace and all these
reserves are being bled dry of course
there is but what what’s the point of
this question then well the second
portion goes into it Ted Butler really
dives into what’s going on they are
removing these silver bars there is a
loophole where the comc which by the way
the silver Institute or the top people
at the silver Institute are those at the
comx as well which speaks for itself
since the silver Institute is known for
manipulating their numbers or having to
revise their numbers after someone calls
them out of not being accurate enough
there there’s just there’s this whole
conspiracy going on a lot of it can’t
even really be called a conspiracy
because it’s been true and people have
been caught red-handed with their pants
down but the whole point is this it’s
definitely real and it is price
suppression when they are trying to
compare this one:1 ratio of paper
contracts to physical metal meaning that
however much paper silver is out there
there is a one: one ratio of that that
same amount of silver in physical Vault
but there’s not and this is them
inflating the the amount of silver there
really is there’s not that much silver
out there and if it was going off of
reality then the prices obviously
wouldn’t be this they’ve overflooded the
market with imaginary silver that isn’t
really in existence so that ounce of
silver you hold in your hand the
hundreds of other people think they own
that same ounce but they really don’t
and that’s why I say if you can’t hold
hold it you don’t own it cuz a lot of
people think they own that silver online
but if they triy to turn it in or if
everyone tried to at the same time what
a silver squeeze is it would expose the
price and that’s what the Hunt Brothers
did in 1980 which pushed the price of
silver to the highest price it’s ever
been still till this day so anyways
that’s just a little bit of context I
could go on for another 4 hours just
scratching the surface of this simple
yet not so simple question so let’s dive
into the article the silver Institute
released its 20 24 World silver survey
last week according to the data silver
demand outstripped Supply in 2023 for
the fifth year in a row the deficit was
over 142 million ounces in the forecast
for 2024 indicates that the annual
production shortfall will nearly double
to 265 million ounces and that’s
interesting because it was actually 190
million ounces in the red this year so I
don’t know why he mentioned that it was
190 million ounces they forecast Ed it
would be 140 million oun but it was
actually 190 million oun they also
forecasted production would be up 2%
this year but it was actually down 2% um
so anyway silver prices have finally
began playing some catch- up to Gold
perhaps speculators in the Futures
Market have finally begin paying
attention to fundamentals like supply
and demand the overall Supply deficit is
collaborated by another data point comx
Vault inventories of silver are also in
Decline so if demand from industry and
from investors is greater than what
Miners and recyclers can produce then
additional silver must come from
existing above ground stocks comx vaults
are major stockpile sure enough
inventory in those vaults has been
dwindling the comx reports total silver
inventory is just over 291 million
ounces in the later support published
Friday that is down from the peak of
just over 400 million ounces in early 20
21 inventory in the much larger lbma or
London bulling Market Association vaults
has also Fallen sharply stocks are down
more than 300 million ounces from the
1.2 billion ounce peak in 2021 that is
massive so here we go into the legendary
Ted Butler Ted Butler of Butler research
has posed an interesting question for
investors watching supply and demand
last fall he sent a letter to both the
heads of the s e and the cftc his
question is whether the 100 million
ounces of silver inventory reported by
the iar’s silver ETF SLV which is stored
by JP Morgan which is the shadiest bank
in the world is also being reported by
JP Morgan as comx inventory it is a
simple question but The Regulators have
yet to answer there are many reasons to
think twice before buying silver or gold
ETFs the potential double counting of
the inventory which is supposedly backs
those Securities in just one of them
their inherent counterparty risk is
another that’s a good point the double
counting right because those there’s not
a one: one ratio which the price is is
supposed to be based off of they’re
flooding the market with paper and
holding down the price by doing so so in
addition to the questions about double
counting the outstanding shares of SLV
have recently begun falling shares
outstanding are a representation of the
silver inventory held by the ETF there
were 482 million shares on April 8th
that number has fallen to 455 million
shares currently that means that slv’s
inventory has fallen by 5.6% in two
weeks which is counterintuitive given
what has happened to silver prices in
that time period higher silver prices
have not LED authorized participants in
the ETF to add silver and create more
shares that they can sell into the
market they are removing silver bars
instead if the silver deficit reaches
265 million ounces this year as forecast
how many of those ounces will come from
the lbma or Comax warehouses and at what
price of course much of the inventory in
those vaults is not actually for sale at
present although at some price nearly
everything is for sale the comx reports
its Holdings in two categories
registered and eligible only the
registered Holdings are available for
delivery now the owners of eligible
silver must be persuaded to register
their bars for that metal that could be
sold and delivered and most most of that
is never going to be turned in and
that’s what they’re hoping and that’s
why when the Hunt Brothers bought all
the silver on the comx and turned it
into physical delivery that threw the
system off guard that was them doing a
silver squeeze and pushed the price to
$50 and made the government ban silver
on the spot throwing a rule called
silver rule 7 out there caus the Marcus
to go crazy and that’s what Wall Street
Silver tried to do as well silver
squeeze buy all the silver up Force the
com X’s hand that there isn’t that much
paper silver out there and the way to do
it is have everyone that owns the paper
silver turn it in proving that there’s
not enough for everyone to have everyone
wants a slice of the silver pie but
there’s not enough pie to go around and
F forcing the comex to play their hand
would expose Silver’s price and that’s
what a silver squeeze is that’s what
they’re trying to do so uh but but
actually we don’t even there’s a natural
silver squeeze happening already without
them having to do these massive silver
rates so silver must be persuaded to
register their bars before that metal
can be sold and delivered they or the
registered inventory is only 47 million
ounces currently a small fraction of the
291 million ounce total in the comc
system the lbma does not publish how
much of the inventory is in their system
is actually available for delivery it is
also it’s Al almost certainly far less
than reported total
but to be certain there are large
amounts of silver outside of publicly
reported stock piles publicly reported
stockpiles that could come back to
Market at higher prices stocks of
bullying coins and bars are well north
of 2 billion ounces so that’s a lot more
potential Supply that could also come to
the market even though there are still
lots of silver around the silver
production shortfalls will put pressure
on prices to go higher in order to
induce new mine production and or Draw
silver out of private hordes and just a
couple of key points real quick one the
private aren’t selling that’s not
even a big a big deal though the biggest
part of the that that conclusion or the
last sentence is new mine production now
when you talk about an annual demand of
1.2 billion ounces or hundreds of
millions of ounces in the red for
multiple years in a row now
record-breaking or India importing 200
165% more
silver did you know I’m going to ask you
a question how much do you think the top
silver mine in America mines in one year
how many how many ounces do you think
the top mine does which um it’s either
uh uh Phillips Baker the CEO of pekla
mining that’s the the biggest mine you
also have Keith new CEO of First
Majestic silver they’re they um they’re
a little under Phillips baker has the
most I think it was like just get before
I say the number just guess remember we
have a demand of 1.2 billion ounces so
with the top mine silver mine in America
how many millions of ounces do you think
they produce annually is it 60 million
ounces you think because I mean 1.2
billion ounces annually for the demanda
so much 60 million 100
million what is it what if I told you
that this year they
had a record well I don’t I don’t know
if it’s like if it’s historic record but
this year they did great or last year I
would say they did great you want to
know how much silver they mined last
year 16 million
ounces the top mine the best mine in
America mined 16 million
ounces when we have a demand of 1.2
billion ounces miners aren’t
even scraping the tiniest percentage of
silver in terms of it coming back or
producing especially given that as time
goes on the records are being broken
creating more gaps so it’s like this
NeverEnding cycle of the silver shortage
getting worse but for the time it would
take to catch up and maybe even put
things in green or even break even we’re
creating more shortages so yes there was
190 million ounce shortage this year but
by the time we catch those 190 million
ounces up we’re going to be two three
four years down the line with more
records being broken of hundreds of
millions of ounces in the red it is
impossible to catch up especially since
most Silver’s thrown away so even if
Silver’s price goes higher what are
miners going to do do you really think I
mean most silver comes from Mexico and
Peru right you have China Australia but
it’s Mexico and Peru they accumulate a
lot of the silver but even their mines
are being protested the one the fres
Nilla mine or one of them in Mexico um
they they got protested and shut down
especially the new ones that are trying
to come online like the one in Canada
last year got protest because silver
contaminates the groundwater so I just
don’t see how this problem could be
fixed or you could argue recycling
recycling I don’t even think that could
put a dent in the amount of silver we
need I just couldn’t see how you know
recycling is going to help the hundreds
of millions of ounces in the red they
talk
about how much silver sitting in a comx
vault that’s how much silver we were in
the red this year
alone not really you know 190 million in
the red comc sitting at 291 million
ounces in their vaults but you know what
I’m saying you get the point how much
silver have Reserve is literally almost
how much we have in the red how much
silver we need just that year alone but
then you have a video like um where is
it this video is Silver the new gold the
lady interviewing asks him she she goes
into that you know she says well in the
next 5 to 10 years what would these
numbers look like cuz the numbers are
already crazy now record after record
being broken but imagine in like 10
years from now or like 5 years from now
what would they look like then and
that’s the angle I’m coming at I don’t
try to look at things from such a
minuscule day-to-day perspective I try
to step back because that’s what
investors should do right so anyways
yeah I just thought that was interesting
it was a good article I’m glad they
brought up Ted Butler um and I I’m glad
that they dived a little deeper in just
the um just the silver institute’s
numbers and and you know what that is
because it does go a lot deeper than
that but anyways I’m going to wrap this
video up here um make sure you guys
subscribe if you enjoyed the video make
sure you guys go ENT my giveaway and um
yeah I’ll see you guys very soon thanks
for tuning in this is silver Slayer make
sure you subscribe like the video let me
comment down below what you think about
this and also um make sure you guys go
check out my other videos and I’ll be
doing another um interview with Andy
sheckman for our podcast as well thanks
tuning in this was silver Slayer I will
see you guys later today or tomorrow
peace for

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