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<p>[QUOTE=&quot;medoraman, post: 1713884, member: 26302&quot;]Ok, I lasted over three weeks, but I have to talk about this assertion you make over and over. Let&#039;s look at this data:</p><p><br /></p><p>New silver mined is 787 million ounces in 2012. Lets look at demand. Photography is a true loss, so that is 57.8 million. Lets ASSUME, (even though its not true). ALL industrial applications are never recoverable. That gives us another 465.9 million usage. Every single other &quot;use&quot; is recoverable. People can and do melt jewelry, silverware, coins and medals, and inventory. Where do you think the old scrap comes from? &quot;Old scrap&quot; is not a finite resource, every single day old silver pieces are scrapped out, and we keep making MORE. just last year we made 323.2 million ounces of jewelry, silverware, and coins. Eventually most of that will be scrapped. We only scrapped 253.9 million ounces, so we actually GREW our scrap pile.</p><p><br /></p><p>So, bottom line, we mined 263.3 million more ounces than we physically used up, (and that is a high estimate, as some industrial uses are recoverable), AND we added 69.3 million more ounces of future scrap. From this, (which is exactly how this trend has been going for quite some time), how anyone other than a commissioned salesman can say with a straight face we are at &quot;500 year lows of above ground silver&quot; is simply beyond me. If a salesman was to tell me that, I would call him a bald faced liar to his face and take my business elsewhere. That is the most twisted, intentionally misleading statement I have heard in quite a while.[/QUOTE]</p><p><br /></p>

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