Hoarding Fad Temporarily Drives Prices Up
The price of just about anything can skyrocket if a hoarding fad starts. We could start a hoarding fad with bags of portland cement and could temporarily drive the price up from $10 up to $100 per unit. But soon the bubble would burst and all that excess cement would flood the market and prices would crash.
Nearly twice as much silver is mined each year as is CONSUMED by industry. The rest is hoarded, but when hoarding fads die, then the price crashes.
A major portion of our silver is mined as a byproduct of other mining activities. Silver prices could plummet to $4 per ounce and all that byproduct silver would still come into the market.
In addition to the tonnages of free byproduct silver, much silver is mined for $5 - $6 per ounce.
Take away the hoarding fad, and we'd have plenty of $5-$7 silver for our industrial consumption needs.
We have enough silver