Silver Deficit Equal to 2 Billion Ounces – Louis Cammarosano
Silver Deficit Equal to 2 Billion Ounces – Louis Cammarosano by Rory – The Daily Coin
Louis Cammarosano, smaulgld, and myself had sat down to produce an interview that covered a couple of specific topics but instead our conversation turned to the Silver Institute and the numbers they produce for Silver Demand and Supply. These numbers make zero sense once you realize the Silver Institute is attempting to tell us there is a silver DEFICIT year after year after year.
Once you go through all the numbers supplied by the Silver Institute you quickly realize there is approximately a 1 BILLION ounce silver deficit between 2007 and 2016. This 1 BILLION ounce deficit does not include the silver that is supposedly going into the ETF’s or the silver going through the COMEX silver market. The combined total of all the silver ETF’s is approximately 950 million ounces. The approximate total of the combined silver on the COMEX market, available for acquisition, is 225 million ounces. This produces approximately another 1 BILLION ounces of deficit.
Please review the Silver Institute’s latest report regarding Supply and Demand – click here. Please note, close to the bottom of the report the “Net Balance” line. This line item does NOT include, which it states on the report, the EFT silver. Also, no where on the report does it discuss COMEX silver that is brought to market.
How is it possible to have well over 2 BILLION ounce deficit of PHYSICAL silver between 2007 and 2016? Why is the acquisition cost of silver continuing to move lower while we are told, year after year, that silver is in a production deficit? How does that work?
Not one electronics manufacturer, that is heavily dependent on silver, has ever stated their is delay in production because of a lack of silver. Samsung, Apple, GE and all the other electronics manufacturers have never raised prices on their products because the cost of silver has been running in a massive deficit for the past decade.
If we are to believe the numbers produced by the Silver Institute this would mean one of two things – either there has been 20% greater demand year over year for the past decade that has somehow been silenced OR the numbers are highly questionable.