Zeev's Turnips Patch-No Politics (ZEEV)

[Zeev Hed]

Yes photographic films are still growing, but much slower than 5 years ago, the electronic camera is killing it, first in developed countries and later elsewhere. As for silver, you are right, most of it is a by product of copper mining. Yet, many silver mines have closed since they are not profitable under $5 to $5.5 ounce, once the price gets there and stay there for any period, these will reopen and fast . The same with oil, the virtual top of the range is $30 per barrel, because Saudi Arabia is afraid (rightfully so) that shales will be developed if the price of crude stays above $30 for too long. If construction slows down, copper consumption will go down as well, and then, some shortage of silver might temporarily emerge, but the $7 we so on that spike in late 97, I don't think it is coming back very soon.

Zeev