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<p>[QUOTE=&quot;JJK78, post: 1625922, member: 19207&quot;]First off nothing personal taken - that&#039;s what the discussion boards are for...&nbsp; If I bold brint or capitalize it is simply because i&#039;m putting importance on that word etc... that being said!</p><p><br /></p><p>JP Morgan has a huge short position - This is a few years old I think, but here is the only article I could quickly dig up regarding their short position, I also recently watched a really good video which I will post when I can find it again... Here is a quote from the article...</p><p>&quot;NIA exposed in &#039;Meltup&#039; that JP Morgan was short 30,000 silver contracts representing 150 million ounces of silver. This is one of the largest concentrated short positions in the history of all commodities, representing 31% of all open COMEX silver contracts.&quot;</p><p><br /></p><p><a href="http://www.prnewswire.com/news-releases/silver-short-position-could-cost-jp-morgan-billions-in-losses-says-nia-106058478.html" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.prnewswire.com/news-releases/silver-short-position-could-cost-jp-morgan-billions-in-losses-says-nia-106058478.html" rel="nofollow">http://www.prnewswire.com/news-releases/silver-short-position-could-cost-jp-morgan-billions-in-losses-says-nia-106058478.html</a></p><p><br /></p><p style="text-align: left"><span style="color: black"><font size="2">Next, I think you are looking at the 2oz per american thing all wrong, it is not an argument , i<font size="2">t was mearly a comparison to show supply and demand in a simple fashion.&nbsp; C</font>learly every american won&#039;t do that just as everyone won&#039;t want a Pop Tart tomorrow.&nbsp; Lets just take another situation with round numbers, there are roughly 6 billion people in the world and if you take the top 1% that is still 60,000,000 people!&nbsp; Sure all the 1%&#039;s aren&#039;t doing it for this is just another scenario~&nbsp; So say half of them are silver stackers and buy 100oz each... that is 3,000,000,000 ounces of silver for investment demand!!!&nbsp; <font size="2">If you consider a few simple things such as those who are buying gold/silver are buying ALOT of it and not just 100oz each, I don&#039;t think these numbers are that far fetched~&nbsp; How much paper silver is out there?&nbsp; I&#039;d bet a whole lot more then there is physical, a WHOLE lot more~</font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">As for the last argument, I do not read silver used for investment as &quot;usage&quot;, I agree it goes into the stockpile for investing.&nbsp; Let&#039;s actually look through the numbers on the chart I pointed out already here - <a href="http://www.silverinstitute.org/site/supply-demand/" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.silverinstitute.org/site/supply-demand/" rel="nofollow">http://www.silverinstitute.org/site/supply-demand/</a> - That the numbers I was quoting for &quot;usage&quot; do include coins and medals, but i&#039;ll play with the numbers a bit and lay them out here... from the 2011 statistics...</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">2011 Total supply is derived from the following catagories - Mine production, goverment sales, old silver scrap, producer hedging and implied net disinvestment</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">Total Supply in 2011 = 1,040,600,000 oz</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">2011 Total demand or my &quot;usage&quot; figure includes - Industrial applications, photography, jewelry, silverware and coins and medals (coins and medals accounted for only 118,000,000 oz of total demand)</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">Total demand in 2011 = 876,600,000 oz</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">The remaining 164,000,000 oz. is the inferred investor demand, basically because of everything supplied that is all that was left and certainly some of that may have been used up as well but for arguments sake i&#039;ll leave all that and i&#039;ll give you all of the coins and medals out of the &quot;usage&quot; catagory~&nbsp; then we can assume the following numbers</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">1,040,600,000 = Produced</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2">758,600,000 = Consumed</font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2">282,000,000 = Invested</font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2"><br /></font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2">So taking into consideration that the total supply number included over 250 million oz of recycled silver, I think it is safe to say that we are already recycling just as much as we are producing in coins and medals as well as investment demand combined.&nbsp; At that rate just how long are we going to be able to recycle that amount?&nbsp; We consume 3 years worth of recycling each and every year... Are you ready to turn in your 2012 Silver Eagles over to Apple to make sure you get the next iPad?&nbsp; I know i&#039;m not... now certainly Apple is not gonna come knocking on my door any time soon, but they are going to get it from somewhere cause paper ain&#039;t gonna cut it~&nbsp; </font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2"><br /></font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2">As for the car production argument, I think I pretty much addressed that with the recycling argument, but when was the last time you melted down a 1990 Ford Mustang and turned it into a 2013 Ford Mustang and little or no cost?&nbsp; How many 1990 Ford Mustangs are left out there?&nbsp; I don&#039;t know, but I do know that we already used up most of the silver ever mined, EVER, so now we have to rely on recycling it or else we won&#039;t have enough to supply the demands of industry... So the price simply HAS to rise.&nbsp; </font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2"><br /></font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2">There is no better alternative and in many cases there is NO alternative to silver~</font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><font size="2"><br /></font></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><font size="2"><br /></font></span></p> <p style="text-align: left"><span style="color: black"><br /></span></p><p>[/QUOTE]</p><p><br /></p>

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