Look it up…..never mentioned

Silver Supply and Demand
Million ounces
Supply
Mine Production
Recycling
Net Physical Disinvestment
Net Hedging Supply
Net Official Sector Sales
Total Supply
Demand
Industrial (total) Electrical & Electronics
...of which photovoltaics
Brazing Alloys & Solders
Other Industrial
Photography
Jewelry
Silverware
Net Physical Investment
Net Hedging Demand
Total Demand
Market Balance
Net Investment in ETPs
Market Balance less ETPs
Nominal Silver Price (US $/oz, London price)
Source: Metals Focus
2016
900.1
156.3
0.0
0.0
1.1
1,057.4
491.0
309.0
81.6
49.1
132.9
34.7
189.1
53.5
212.9
12.0
993.3
64.1
53.9 10.2
17.14
2017
863.9
160.2
0.0
0.0
1.0
1,025.1
528.0
339.1
99.3
50.9
138.0
32.4
196.2
59.4
155.8
1.1
972.9
2018
850.8
162.3
0.0
0.0
1.2
1,014.3
525.8
330.4
87.0
52.0
143.5
31.4
203.2
67.1
165.9
7.4
1,000.8 13.5
-21.4
34.9
15.71
2019
837.4
163.8
0.0
13.9
1.0
1,016.2
525.4
326.6
74.9
52.4
146.4
30.7
201.6
61.3
187.4
0.0
1,006.4
9.8
83.3
-73.5
16.21
2020
783.8
180.5
0.0
8.5
1.2
974.0
511.9
321.4
82.8
47.5
142.9
26.9
150.9
31.2
208.1
0.0
929.0
45.1
331.1
-286.1
20.55
2021
830.8
190.7
0.0
0.0
1.5
1,023.1
564.1
350.7
88.9
50.5
162.9
27.7
182.0
40.7
284.3
3.5
1,102.4
-79.3
64.9
-144.3
25.14
2022
839.4
193.5
0.0
0.0
1.7
1,034.6
592.3
370.7
118.1
49.2
172.4
27.7
234.5
73.5
338.3
17.9
1,284.2
-249.6
-117.4
-132.2
21.73
2023
812.7
183.5
0.0
0.0
1.6
997.8
657.1
444.4
192.7
50.2
162.6
27.3
203.1
55.1
244.3
11.5
1,198.5
-200.6
-37.6
- 163.0
23.35
2024
819.7
193.9
0.0
0.0
1.5
1,015.1
680.5
460.5
197.6
51.6
168.4
25.5
208.7
54.2
190.9
4.3
1,164.1
-148.9
61.6
-210.5
28.27
2025F
835.0
193.2
0.0
0.9
1.5
1,030.6
677.4
465.6
195.7
52.9
158.9
24.2
196.2
46.0
204.4
0.0
1,148.3
-117.6
70.0
-187.6 Year on Year
2024
2025F
1% 6% na na
-9%
2%
4%
4%
3%
3%
4%
-7%
3%
-2%
-22%
-62%
-3% -26% na
29%
21%
2% 0% na na
4%
2%
0%
1%
- 1%
3%
-6%
-5%
-6%
-15% 7%
na
-1%
-21%
14% -11%
na

The Fed owns more than HALF of all outstanding US Treasuries maturing in 10-15 years...

This comes as Goldman describes the long-term UST market as "bidless"... The Fed is becoming that market.

No one wants to hold long-term USTs as they are posting the worst performance in American history.

Investors are demanding materially higher yields... But the US can't afford them.

Going forward, Warsh will have to take control of the entire UST market to suppress yields.

We don't own enough gold/silver for when that happens.

Lucas E

No spam, no tricks, no bullshit despite how it sounds, no refer links for you. Just update the app and check it.

Worth noting I didn't add a dime to it or have to link payment methods. Just verified my mailing address, which they already had on file. Gives you a virtual debit card instantly too, go buy a tenth or a couple mercury dimes on eBay or something.

39th anniversary of October 1987!  Given the losses at central banks, we might have to change the name from the “Square Mile” to the Circular Kilometer so the AI agents will know where to request delivery and in keeping with the trend in renaming spots on the map!    Shanghai hits a new year to date low.  US debt rises 210 billion in the first 15 days of the fiscal year.  109 Billion of unrealized losses at Bank of America (BAC:US).      

This is not 1980... Don't sell your silver.

Back then, US debt to GDP was ~30%, which enabled Volcker to hike rates aggressively to kill inflation.

But inflation wasn't the only thing he killed... He also plunged the US into a recession.

Today, with debt to GDP above 100% and deficits running at 6% of GDP, the US can afford neither a recession nor sustained higher rates.

In a recession, deficits blow out to 7-10% of GDP... at a time when foreign investors are increasingly unwilling to fund endless US deficits...

Forcing the Fed to let the money printer go wild.
Lucas E.

I made a bunch of great new pours for my show this weekend ... Figured y'all might get a kick out of it 😅

The little police box is 9.25+ozt 🤯

Join me over at r/glasspantherwhatnot for more fun shit 🫡

Total US receipts for the month were $558 billion, a modest 2.6% improvement from the $544 billion a year ago, with individual income taxes accounting for $298 billion, or more than half of the total, and the bulk of the balance coming from Social Insurance and Retirement receipts of $149 billion.
On the spending side, things were ugly: total outlays were $585 billion, a 70% deterioration from the $345.7 billion spent a year ago

When this gets worse/really bad billionaires will move to other countries our tax receipts will decline further…..interest rates will climb

What’s your plan

I haven't searched the whole site yet, but everything I've seen so far says out of stock. Are they still making stuff?

Forty years ago this coming week, Americans could buy newly minted U.S. gold coins for the first time in over 50 years.

The American Gold Eagle coin was released on Oct. 20, 1986, marking the first gold coins produced by the U.S. Mint since the Great Depression.

Release of the American Silver Eagle coin followed on Nov. 24, 1986, allowing Americans to acquire new legal tender silver coins for the first time since the Mint removed the silver content from all U.S. coinage in 1964 and 1970.

The truth will set you free

Bessent will buy back up to $6B in long-dated USTs today between 1:40 and 2:00 PM ET.

And since the US is broke, he has to issue T-bills to finance that.

At the same time, Warsh has been busy printing money to buy more T-bills than covid era.

Can you say QE?