@cladking
Speaking of holy smokes the article linked above omits the fact that silver is used as fuel in all cruise missiles. Every time a new military installation goes up 9in smokes 500 pound of silver does as well.
@cladking
Speaking of holy smokes the article linked above omits the fact that silver is used as fuel in all cruise missiles. Every time a new military installation goes up 9in smokes 500 pound of silver does as well.
500 pounds of silver in missle?
Yes. That has been reported. I researched it at some effort and apparently they use silver and hydrogen peroxide for fuel.
Everything gets harder to research all the time but this is largely because the search engines suck. With AI they'll soon be able to stop you from finding anything at all whether it's top secret or not. Every country 9in the world uses silver and H2O2 apparently but it's still hard to find. I believe they are all loaded with full "tanks" and then programmed before use but, obviously, I didn't find much about how to buy or use cruise missiles.
500 pounds sure sounds like a lot of silver to me.
Time to start mining cruise missile impact sites ?
None around here, though (fortunately).
I have read reports that Russia has nuclear-powered cruise missiles. They stay airborne for extended periods (years) while waiting for commands to go to a target. They are prone to mishaps, apparently. But they don't use nearly as much silver.
My source was not extremely reliable but said 500 pounds unless I misunderstood. The amount of oxidizer would depend on the product being produced which is probably some oxide of silver.
500 pound of propellant doesn't sound at all excessive for a long range missile. Missiles and rockets generally are largely fuel by weight. Of course there would be a significant weight in an explosive in a cruise missile.
I was finding some sources onLine, perhaps I'll look again later.
I would guess perhaps 500 pounds of Hydrogen Peroxide, and a lesser amount of silver for it to react with over an extended time (for propulsion).
.
So you believe they use silver and hydrogen peroxide as the propellant?
.
I have not researched the propellant used. But if it is hydrogen peroxide (with silver as a catalyst), then 500 pounds of H2O2 would seem reasonable.
.
Might make a good disinfectant.
Most missiles just use jet-fuel.
.
Something that uses "jet fuel" will usually have a large air intake to take in oxygen to combust the jet fuel with.
Most "missiles" do not use "jet fuel". They use solid propellant that does not require an intake of oxygen.
Rockets use solid propellant and/or liquid rocket fuel. If a liquid type, they carry their own oxygen in the form or cold liquid oxygen, or in some chemically-bonded form of oxygen such as hydrogen peroxide.
I would guess perhaps 500 pounds of Hydrogen Peroxide, and a lesser amount of silver for it to react with over an extended time (for propulsion).
.
So you believe they use silver and hydrogen peroxide as the propellant?
.
I have not researched the propellant used. But if it is hydrogen peroxide (with silver as a catalyst), then 500 pounds of H2O2 would seem reasonable.
.
Might make a good disinfectant.
Most missiles just use jet-fuel.
.
Something that uses "jet fuel" will usually have a large air intake to take in oxygen to combust the jet fuel with.
Most "missiles" do not use "jet fuel". They use solid propellant that does not require an intake of oxygen.
Rockets use solid propellant and/or liquid rocket fuel. If a liquid type, they carry their own oxygen in the form or cold liquid oxygen, or in some chemically-bonded form of oxygen such as hydrogen peroxide.
.
Yes they do.
We're not going to outer space.....just flying a few 100 miles.
I would guess perhaps 500 pounds of Hydrogen Peroxide, and a lesser amount of silver for it to react with over an extended time (for propulsion).
.
So you believe they use silver and hydrogen peroxide as the propellant?
.
I have not researched the propellant used. But if it is hydrogen peroxide (with silver as a catalyst), then 500 pounds of H2O2 would seem reasonable.
.
Might make a good disinfectant.
Most missiles just use jet-fuel.
.
Something that uses "jet fuel" will usually have a large air intake to take in oxygen to combust the jet fuel with.
Most "missiles" do not use "jet fuel". They use solid propellant that does not require an intake of oxygen.
Rockets use solid propellant and/or liquid rocket fuel. If a liquid type, they carry their own oxygen in the form or cold liquid oxygen, or in some chemically-bonded form of oxygen such as hydrogen peroxide.
.
Yes they do.
We're not going to outer space.....just flying a few 100 miles.
@jmski52 said:
I remember silver being used in cruise missiles as long ago as 1978, and the amount of silver used has always been in the hundreds of ounces.
"The silver market has experienced a number of silver promoters pushing the idea that there are massive amounts of silver used in missiles, far more than CPM estimates. These promoters push the idea that so many missiles being used around the world are using in nonrecyclable ways enormous volumes of silver. They claim that Tomahawk missiles each have 482 or 500 ounces of silver in them, for example.
The amount of silver used in military equipment is highly classified, but informed sources report that a Tomahawk missile actually has around 10 – 15 ounces of silver in it, mostly in solder and an ignition battery. Not 482 to 500 ounces. The smaller missiles used extensively in Ukraine, the Middle East, and elsewhere each are said to have less than one ounce of silver in it, again in solder and ignition batteries. The actual use of silver in missiles is measured in hundreds of thousands of ounces over the past 40 years."
The amount of silver used in military equipment is highly classified, but informed sources report that a Tomahawk missile actually has around 10 – 15 ounces of silver in it, mostly in solder and an ignition battery. Not 482 to 500 ounces. The smaller missiles used extensively in Ukraine, the Middle East, and elsewhere each are said to have less than one ounce of silver in it, again in solder and ignition batteries. The actual use of silver in missiles is measured in hundreds of thousands of ounces over the past 40 years."
The amount of fuel used in a rocket is easily calculable. It's just gravity and friction.
Tomahawks apparently do not use silver as fuel but other missiles do. You should be able to deduce the reaction and estimate fuel usage from the "Handbook of Chemistry and Physics". I personally have been avoiding such exercises for a couple decades now. Suffice to say it takes me far too long if I can do it at all.
Obviously this assumes you can power a rocket at all using this fuel but the video linked earlier certainly suggests this is possible.
The value of silver is NOT that it is useful in ANY given application. The value is that it is needed in thousands of very necessary processes. Each of these processes require very little silver but every passing year there are more such necessary processes AND those that exist are generally growing in their application.
Silver will explode someday and as I suggested not too many posts back, it might be this week. Remember I predicted that if silver opened sharply higher or sharply lower it might signal silver's move. It opened sharply lower. When it does move it's not going to be a few dollars, it's going to be a lot of dollars with moves as large as $10 in a single day. Silver is no "gutter metal" and hasn't been since the computer was invented; since about the 1890's. It is going to be reevaluated eventually. It is nearly as scarce as gold above ground, it's being consumed faster than it is produced, and the world needs it to continue "human progress". There is no alternative to progress and there is no alternative to silver.
@jmski52 said:
My sweetheart says that without blitz, we wouldn't be having any fun. I guess it may be true.
I assumed blitz was your sweetheart.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It's probably still true that even the producers don't have silver. Yes, they are pulling it out of the ground but it is often already sold when they do. They also get involved in short selling. Most physical silver exists at coin and jewelry stores or in JIT deliveries to factories.
These conditions are all unprecedented. I half expect Boris Badinov and Natasha Fatale to be waiting for the local coin shop to open. The situation is surrealistic.
@cladking said:
It's probably still true that even the producers don't have silver. Yes, they are pulling it out of the ground but it is often already sold when they do. They also get involved in short selling. Most physical silver exists at coin and jewelry stores or in JIT deliveries to factories.
These conditions are all unprecedented. I half expect Boris Badinov and Natasha Fatale to be waiting for the local coin shop to open. The situation is surrealistic.
Of course I've been wrong before.
Me and every joe six pack have loads of the physical gutter. Raise the price and we will flood the already flooded market. They don't even need to pull the crap out of the ground. Billions of unused ounces already refined and hoarded. RGDS!
@cladking said:
It's probably still true that even the producers don't have silver. Yes, they are pulling it out of the ground but it is often already sold when they do. They also get involved in short selling. Most physical silver exists at coin and jewelry stores or in JIT deliveries to factories.
These conditions are all unprecedented. I half expect Boris Badinov and Natasha Fatale to be waiting for the local coin shop to open. The situation is surrealistic.
Of course I've been wrong before.
Me and every joe six pack have loads of the physical gutter. Raise the price and we will flood the already flooded market. They don't even need to pull the crap out of the ground. Billions of unused ounces already refined and hoarded. RGDS!
I agree. Eight billion ounces already mined and hoarded.
At 34 per OZ that's some 250 billion dollars. If Russia and central banks including hundreds of billionaires try to buy it how far can they get? Factories need it today not when the contracts are due. The total available supply is hardly so great and consumption increases every year as production has been in decline DESPITE higher prices.
Supply is inelastic because it is a by-product of other mining and consumption is inelastic because almost every application uses only very small amounts.
Let me try one more time to make clear what I'm seeing. The world is in absolutely no danger of running out of silver in the short term. The problem is that people have always considered silver very common relative to gold but it is far rarer in terms of both supply relative consumption and total value. All the gold in the world is worth sixty times as much as all the silver in the world but very little gold is "needed" to operate a modern economy and gold is available in warehouses that are worth more than 1000 times the biggest silver warehouses.
This is anomalous and can persist only so long as people don't think about it. The status quo has a habit of changing with a bang. Russia buying silver could trigger the explosion all by itself because the aggregate amount of silver readily available is tiny. All panics result from piling on. When Russia buys silver who will be first to pile on?
The Hunt brothers had the right idea but were too far ahead of their time. Silver consumption was spotty in 1979 and production was growing. Rather than buying only physical they were playing around in the futures market allowing the monied interests to play back. Despite the vast amounts of silver produced since 1979 it has been consigned to garbage dumps by the same interests that ruined the Hunts. This was highly short sighted because silver usage has been growing steadily and production was growing much less steadily.
Increasing production is nearly out of the question now because production is dependent on the health of the economy because it is closely tied to copper and other metals. Certainly a robust economy that increased copper production 50% would increase silver production 25% but it would increase silver consumption 75%. No matter the silver price we are in the trick bag. Consumption must increase faster than production for the foreseeable future. While reserves MIGHT be expected to carry us through at least for two decades the fact is too many entities are not able to take supply cuts even if silver were thousands of dollars per ounce; they must buy.
The ONLY sellers are joe sixpackers and you might be surprised how tightly held some of this silver could prove to be. If I were 29 years old and just starting stacking silver I would be loathe to sell. While much more silver is held by older people what are we going to buy; refrigerators that only last three years because they are engineered to break? Sure a billion ounces would flow pretty quick even at only $50 but what will the next billion take? And the one after that?
We're talking people spending taxpayer money here ya' know? We're talking about military budgets of a trillion dollars in a still inflationary environment.
It's not like a buying panic is pre-ordained to happen now but I believe in the long run it is unavoidable without conservation efforts and exploration for more silver deposits. Higher prices won't spur conservation by itself until the price starts hurting business at over a couple hundred.
I guess we're going to see if it's this week or not.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Jon Forrest Little is saying the same thing in other words.
It's a shame Ted Butler missed this. I'd love to hear what his words would be.
No supply, no ability to increase supply, widespread demand and no means to suppress demand as billions of dollars flow into this market is a prescription for chaos.
Jon Forrest Little is saying the same thing in other words.
It's a shame Ted Butler missed this. I'd love to hear what his words would be.
I find Jon Forrest Little to be very sharp and very insightful. I am slightly disturbed by this specific article though because there is an implication that anyone buying silver now could be considered in cahoots with the not so communist Russians. But nothing could be further from the truth and it wasn't the Russians who caused most of their own silver production since 1979 to be shoveled into landfills. It's not the Russian's fault that silver is used everywhere and nobody has any kind of supply. And it's not the fault of American businesses if they go out and try to secure a supply now. Russia is acting on their own in their own best interests as they perceive them. It's not like we can go in and take their silver without making the situation astronomically far worse.
Even though I don't support Russia I certainly don't support their motivation if Little is correct. I can imagine numerous reasons they'd want a strategic stockpile and none of them is to hurt western interests. Be this as it may the fact is that eventually someone with deep pockets would fill them up with silver before it's all gone. We should thank the Russians for not letting the madness continue until the last silver eagle is in landfill.
Of course in time things will return to normal with supply and demand in balance. Anyone with the price will be able to get silver. in the meantime there could be fireworks with the only way to stop the Russians is with much higher prices.
silver used in a missile that finds a target is silver that cannot be recovered.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm expecting a sudden massive spike. I don't know what will happen after that and it could be a $4 dip hard on the heels of a $2.50 spike. More likely it will signal a piling on and then sharply higher. The spike will be quite intentional and result from interests that want higher prices which include everyone from miners to Russians and the dip will be the effect on the powers that be who must drive it lower or go bankrupt or maybe to prison.
Of course i can still be wrong and this is really just a garden style rally that will end at $14 silver.
It looks different this time. It looks like 50 billion dollars chasing a billion dollars worth of silver. When that silver isn't forthcoming they will be forced to pony up more cash.
"As often cited by Andy Schectman, a renowned expert in the precious metals market and a regular interviewee with Kitco News, there are 500 ounces of silver in the tip of every tomahawk cruise missile."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
"As often cited by Andy Schectman, a renowned expert in the precious metals market and a regular interviewee with Kitco News, there are 500 ounces of silver in the tip of every tomahawk cruise missile."
Why would there be silver in the tip of a missile? It's a soft metal.
@jmski52 said:
The question might be whether silver is just used in the electrical contacts, or whether it's used in the wiring as well.
Either way it's inconsequential.
Do you ignore the military use completely?
The amount used in missiles is inconsequential.
We pull 800+ million oz out of the ground every year.
If, and it's a big if, there are 500 oz in a missile, and we make 16,000 missiles per year--we dont--then that would account for 1% of global production.
We pull 800+ million oz out of the ground every year.
If, and it's a big if, there are 500 oz in a missile, and we make 16,000 missiles per year--we dont--then that would account for 1% of global production.
Military consumption is not reported, and missiles aren't the only application for silver in the military. Aside from that, the shortfall between supply and demand is 250 million oz. for this year. The supply deficit has been in that order of magnitude for 4 years running.
Is that inconsequential?
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said: The amount used in missiles is inconsequential.
We pull 800+ million oz out of the ground every year.
If, and it's a big if, there are 500 oz in a missile, and we make 16,000 missiles per year--we dont--then that would account for 1% of global production.
Military consumption is not reported, and missiles aren't the only application for silver in the military. Aside from that, the shortfall between supply and demand is 250 million oz. for this year. The supply deficit has been in that order of magnitude for 4 years running.
Is that inconsequential?
What isn't inconsequential is the fact that silver had woefully underperformed every assat class from stocks to residential real estate. Now it's finally climbing out of the gutter and joining the party.
Whoohoo.
PMers have more excuses for things either going for or against them. See sigline.
Comments
The biggest stockpile of silver could be shoehorned into two of these tanks if it were in the form of silver rounds.
500 pounds of silver in missle?
Knowledge is the enemy of fear
Yes. That has been reported. I researched it at some effort and apparently they use silver and hydrogen peroxide for fuel.
Everything gets harder to research all the time but this is largely because the search engines suck. With AI they'll soon be able to stop you from finding anything at all whether it's top secret or not. Every country 9in the world uses silver and H2O2 apparently but it's still hard to find. I believe they are all loaded with full "tanks" and then programmed before use but, obviously, I didn't find much about how to buy or use cruise missiles.
500 pounds sure sounds like a lot of silver to me.
Wright Patterson AFB says the Tomahawk uses JP-10 fuel.
Maybe I need to check more. I couldn't get silver to burn.
Hmm ...
Time to start mining cruise missile impact sites ?
None around here, though (fortunately).
I have read reports that Russia has nuclear-powered cruise missiles. They stay airborne for extended periods (years) while waiting for commands to go to a target. They are prone to mishaps, apparently. But they don't use nearly as much silver.
Indeed it should as that would be about 15% of the missles total weight. Ask yourself, does that make sense?
https://www.navair.navy.mil/product/Tomahawk
Knowledge is the enemy of fear
.
I would guess perhaps 500 pounds of Hydrogen Peroxide, and a lesser amount of silver for it to react with over an extended time (for propulsion).
.
I think the number is closer to 500 ounces.
I knew it would happen.
So you believe they use silver and hydrogen peroxide as the propellant?
Knowledge is the enemy of fear
That would sound more probable to me.
I don't know.
My source was not extremely reliable but said 500 pounds unless I misunderstood. The amount of oxidizer would depend on the product being produced which is probably some oxide of silver.
500 pound of propellant doesn't sound at all excessive for a long range missile. Missiles and rockets generally are largely fuel by weight. Of course there would be a significant weight in an explosive in a cruise missile.
I was finding some sources onLine, perhaps I'll look again later.
.
I have not researched the propellant used. But if it is hydrogen peroxide (with silver as a catalyst), then 500 pounds of H2O2 would seem reasonable.
.
Might make a good disinfectant.
Most missiles just use jet-fuel.
Knowledge is the enemy of fear
Makes perfect sense in Bulgarian conspiracy world. RGDS!
The whole worlds off its rocker, buy Gold™.
.
Something that uses "jet fuel" will usually have a large air intake to take in oxygen to combust the jet fuel with.
Most "missiles" do not use "jet fuel". They use solid propellant that does not require an intake of oxygen.
Rockets use solid propellant and/or liquid rocket fuel. If a liquid type, they carry their own oxygen in the form or cold liquid oxygen, or in some chemically-bonded form of oxygen such as hydrogen peroxide.
.
Posting while using LSD is a TOS Violation.
Seriousley, gold is at all-time highs....silver is almost 40% below her ATH.
The charts don't lie.
Yes they do.
We're not going to outer space.....just flying a few 100 miles.
https://en.m.wikipedia.org/wiki/JP-10_(fuel)
They ain't puttin' silver dollars in missile engines.
Knowledge is the enemy of fear
I remember silver being used in cruise missiles as long ago as 1978, and the amount of silver used has always been in the hundreds of ounces.
I knew it would happen.
.
Those are not really traditional "jet fuel". You won't see an airliner filling up on that.
"Turbine fuel" is perhaps a better descriptor.
Missiles launched from aircraft generally use solid fuel since it is more stable to carry and not prone to leakage.
"The silver market has experienced a number of silver promoters pushing the idea that there are massive amounts of silver used in missiles, far more than CPM estimates. These promoters push the idea that so many missiles being used around the world are using in nonrecyclable ways enormous volumes of silver. They claim that Tomahawk missiles each have 482 or 500 ounces of silver in them, for example.
The amount of silver used in military equipment is highly classified, but informed sources report that a Tomahawk missile actually has around 10 – 15 ounces of silver in it, mostly in solder and an ignition battery. Not 482 to 500 ounces. The smaller missiles used extensively in Ukraine, the Middle East, and elsewhere each are said to have less than one ounce of silver in it, again in solder and ignition batteries. The actual use of silver in missiles is measured in hundreds of thousands of ounces over the past 40 years."
https://cpmgroup.com/silvers-strength-is-that-it-is-neither-strategic-nor-critical/#:~:text=They claim that Tomahawk missiles,solder and an ignition battery.
For cripes sakes, use your brains people. THKS!
The whole worlds off its rocker, buy Gold™.
The amount of fuel used in a rocket is easily calculable. It's just gravity and friction.
Tomahawks apparently do not use silver as fuel but other missiles do. You should be able to deduce the reaction and estimate fuel usage from the "Handbook of Chemistry and Physics". I personally have been avoiding such exercises for a couple decades now. Suffice to say it takes me far too long if I can do it at all.
Obviously this assumes you can power a rocket at all using this fuel but the video linked earlier certainly suggests this is possible.
The value of silver is NOT that it is useful in ANY given application. The value is that it is needed in thousands of very necessary processes. Each of these processes require very little silver but every passing year there are more such necessary processes AND those that exist are generally growing in their application.
Silver will explode someday and as I suggested not too many posts back, it might be this week. Remember I predicted that if silver opened sharply higher or sharply lower it might signal silver's move. It opened sharply lower. When it does move it's not going to be a few dollars, it's going to be a lot of dollars with moves as large as $10 in a single day. Silver is no "gutter metal" and hasn't been since the computer was invented; since about the 1890's. It is going to be reevaluated eventually. It is nearly as scarce as gold above ground, it's being consumed faster than it is produced, and the world needs it to continue "human progress". There is no alternative to progress and there is no alternative to silver.
My sweetheart says that without blitz, we wouldn't be having any fun. I guess it may be true.
I knew it would happen.
I assumed blitz was your sweetheart.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
That hurts.
I knew it would happen.
It's probably still true that even the producers don't have silver. Yes, they are pulling it out of the ground but it is often already sold when they do. They also get involved in short selling. Most physical silver exists at coin and jewelry stores or in JIT deliveries to factories.
These conditions are all unprecedented. I half expect Boris Badinov and Natasha Fatale to be waiting for the local coin shop to open. The situation is surrealistic.
Of course I've been wrong before.
Me and every joe six pack have loads of the physical gutter. Raise the price and we will flood the already flooded market. They don't even need to pull the crap out of the ground. Billions of unused ounces already refined and hoarded. RGDS!
The whole worlds off its rocker, buy Gold™.
I agree. Eight billion ounces already mined and hoarded.
At 34 per OZ that's some 250 billion dollars. If Russia and central banks including hundreds of billionaires try to buy it how far can they get? Factories need it today not when the contracts are due. The total available supply is hardly so great and consumption increases every year as production has been in decline DESPITE higher prices.
Supply is inelastic because it is a by-product of other mining and consumption is inelastic because almost every application uses only very small amounts.
These are two freight trains on the same track.
Let me try one more time to make clear what I'm seeing. The world is in absolutely no danger of running out of silver in the short term. The problem is that people have always considered silver very common relative to gold but it is far rarer in terms of both supply relative consumption and total value. All the gold in the world is worth sixty times as much as all the silver in the world but very little gold is "needed" to operate a modern economy and gold is available in warehouses that are worth more than 1000 times the biggest silver warehouses.
This is anomalous and can persist only so long as people don't think about it. The status quo has a habit of changing with a bang. Russia buying silver could trigger the explosion all by itself because the aggregate amount of silver readily available is tiny. All panics result from piling on. When Russia buys silver who will be first to pile on?
The Hunt brothers had the right idea but were too far ahead of their time. Silver consumption was spotty in 1979 and production was growing. Rather than buying only physical they were playing around in the futures market allowing the monied interests to play back. Despite the vast amounts of silver produced since 1979 it has been consigned to garbage dumps by the same interests that ruined the Hunts. This was highly short sighted because silver usage has been growing steadily and production was growing much less steadily.
Increasing production is nearly out of the question now because production is dependent on the health of the economy because it is closely tied to copper and other metals. Certainly a robust economy that increased copper production 50% would increase silver production 25% but it would increase silver consumption 75%. No matter the silver price we are in the trick bag. Consumption must increase faster than production for the foreseeable future. While reserves MIGHT be expected to carry us through at least for two decades the fact is too many entities are not able to take supply cuts even if silver were thousands of dollars per ounce; they must buy.
The ONLY sellers are joe sixpackers and you might be surprised how tightly held some of this silver could prove to be. If I were 29 years old and just starting stacking silver I would be loathe to sell. While much more silver is held by older people what are we going to buy; refrigerators that only last three years because they are engineered to break? Sure a billion ounces would flow pretty quick even at only $50 but what will the next billion take? And the one after that?
We're talking people spending taxpayer money here ya' know? We're talking about military budgets of a trillion dollars in a still inflationary environment.
It's not like a buying panic is pre-ordained to happen now but I believe in the long run it is unavoidable without conservation efforts and exploration for more silver deposits. Higher prices won't spur conservation by itself until the price starts hurting business at over a couple hundred.
I guess we're going to see if it's this week or not.
silver will hit $40 by end of the year.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
...Or the end of this week...
https://silverseek.com/article/why-silver-price-doubles-russias-metal-maneuver-alarms-western-banks
Jon Forrest Little is saying the same thing in other words.
It's a shame Ted Butler missed this. I'd love to hear what his words would be.
No supply, no ability to increase supply, widespread demand and no means to suppress demand as billions of dollars flow into this market is a prescription for chaos.
Clad is the same thing but no demand.
I find Jon Forrest Little to be very sharp and very insightful. I am slightly disturbed by this specific article though because there is an implication that anyone buying silver now could be considered in cahoots with the not so communist Russians. But nothing could be further from the truth and it wasn't the Russians who caused most of their own silver production since 1979 to be shoveled into landfills. It's not the Russian's fault that silver is used everywhere and nobody has any kind of supply. And it's not the fault of American businesses if they go out and try to secure a supply now. Russia is acting on their own in their own best interests as they perceive them. It's not like we can go in and take their silver without making the situation astronomically far worse.
Even though I don't support Russia I certainly don't support their motivation if Little is correct. I can imagine numerous reasons they'd want a strategic stockpile and none of them is to hurt western interests. Be this as it may the fact is that eventually someone with deep pockets would fill them up with silver before it's all gone. We should thank the Russians for not letting the madness continue until the last silver eagle is in landfill.
Of course in time things will return to normal with supply and demand in balance. Anyone with the price will be able to get silver. in the meantime there could be fireworks with the only way to stop the Russians is with much higher prices.
From your mouth to God's ears.
While we acknowledge the source of your claim...
https://www.marketwatch.com/story/silvers-scarcity-factor-is-helping-it-catch-up-to-golds-record-run-55183d59?mod=home-page
Knowledge is the enemy of fear
silver used in a missile that finds a target is silver that cannot be recovered.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm expecting a sudden massive spike. I don't know what will happen after that and it could be a $4 dip hard on the heels of a $2.50 spike. More likely it will signal a piling on and then sharply higher. The spike will be quite intentional and result from interests that want higher prices which include everyone from miners to Russians and the dip will be the effect on the powers that be who must drive it lower or go bankrupt or maybe to prison.
Of course i can still be wrong and this is really just a garden style rally that will end at $14 silver.
It looks different this time. It looks like 50 billion dollars chasing a billion dollars worth of silver. When that silver isn't forthcoming they will be forced to pony up more cash.
Silver’s secret military demand
"As often cited by Andy Schectman, a renowned expert in the precious metals market and a regular interviewee with Kitco News, there are 500 ounces of silver in the tip of every tomahawk cruise missile."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Why would there be silver in the tip of a missile? It's a soft metal.
Knowledge is the enemy of fear
The question might be whether silver is just used in the electrical contacts, or whether it's used in the wiring as well.
I knew it would happen.
Either way it's inconsequential.
Knowledge is the enemy of fear
Do you ignore the military use completely?
My US Mint Commemorative Medal Set
The amount used in missiles is inconsequential.
We pull 800+ million oz out of the ground every year.
If, and it's a big if, there are 500 oz in a missile, and we make 16,000 missiles per year--we dont--then that would account for 1% of global production.
It's inconsequential.
Knowledge is the enemy of fear
major profit taking this morning. maybe a peace dividend. LOL
My US Mint Commemorative Medal Set
The amount used in missiles is inconsequential.
We pull 800+ million oz out of the ground every year.
If, and it's a big if, there are 500 oz in a missile, and we make 16,000 missiles per year--we dont--then that would account for 1% of global production.
Military consumption is not reported, and missiles aren't the only application for silver in the military. Aside from that, the shortfall between supply and demand is 250 million oz. for this year. The supply deficit has been in that order of magnitude for 4 years running.
Is that inconsequential?
I knew it would happen.
What isn't inconsequential is the fact that silver had woefully underperformed every assat class from stocks to residential real estate. Now it's finally climbing out of the gutter and joining the party.
Whoohoo.
PMers have more excuses for things either going for or against them. See sigline.
Knowledge is the enemy of fear
Why don't you answer the question?
I knew it would happen.
I did.
Knowledge is the enemy of fear
Actually kind of glad to see that. Will be interesting to see how long the dip lasts, and if it quickly starts a trend upwards again.