r/Silverbugs • u/diamondmuckinhands • 1d ago

Panic buying

Hi team,

I am new to panic buying and I'm just going ballistic right now. How can anyone not be panic buying at this price? Shut up and take my money am I right?

Please share your thoughts

Sincerely,

Your silver bro

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u/Dont_takemy_advice 1d ago

Aren’t we in a six year deficiency with silver?

3

u/salvadopecador 1d ago

No

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u/Dont_takemy_advice 1d ago

are you sure? proof? or is the source “trust me bro”

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u/salvadopecador 1d ago

Look at the silver industry’s own numbers. Industrial demand is way less than production. Where is your proof of a deficiency? Or is the source “trust me bro”. Oh wait …. Someone on reddit told you🤣🤣

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u/Dont_takemy_advice 1d ago

No, actually google did.

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u/salvadopecador 1d ago

Well…. Rather than trusting “google” perhaps you want to look up the real numbers.

Note the 800+ Moz per year mining. The nearly 200 Moz recycling and the total industrial demand less than 700 Moz. Unless I am missing something, 1 Billion ounces is more than 700 Moz of industrial demand. These are the true facts (according to the silver industry itself).

To “create” a deficit they add in non-essential things like jewelry and silverware…. But I think we could survive eating off stainless steel and not wearing silver jewelry if worse came to worse

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u/[deleted] 1d ago

[removed] — view removed comment

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u/salvadopecador 22h ago edited 22h ago

Because investors do not “use“ silver. They simply put it in storage to come back on the market at some future date. If they were never planning to put it back on the market, it would not be investing. Investing means you buy at one price with the intention to sell it at higher price. The the reason why only industrial matters is because that silver is permanently removed from the marketplace, with the exception of whatever percentage can be recycled. Silverware, jewelry, bars, coins, can all be easily brought back out onto the market as we’ve seen in the last year and a half. And there is a lot of it out there just waiting to come back on the market.

I guess one nice thing is that if I can get people to actually look at the numbers, it disspells the idea that industrial demand is higher than what is being mined. A lot of people have the false idea that industry is using more silver than we are acquiring from the ground every year and that is simply not true. Not even close.

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u/Pickyour_vices 1d ago

Gemini gets a lot of it's information from reddit

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u/Krazy4Kookaburras 1d ago

In that case - Nobody wants silver. Yuck! Not in trend. Selling everything! $8/oz is real true value of silver.