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Wall Street Mav @WallStreetMav - People keep posting quoting "Silver market cap" at $6 trillion or however much up or down it is.
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They are clueless
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There are not 56 billion oz of silver stored in vaults. It is gone. Just like all of the oil pumped since 1859 has been consumed.
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90% of that 56 billion oz mined throughout history has been used by industry, turned into a paste and used in electronics or solar panels or mirrors or dozens of other products. And most of it is in such tiny amounts (a few grams) that it can never be recovered. Only 20% gets recycled.
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If there were 56 billion oz floating around the market, silver would not be at over $100 per oz right now. If silver were that readily available for industry to acquire it, they wouldn't be doing deals with silver mining companies to acquire their output directly.
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So when someone quotes that ridiculous "silver market cap" amount, that is a signal that they have no idea what is going on with the silver market or why prices are rising.
https://x.com/WallStreetMav/status/2015953024787624183

WarNuse @WarNuse - 'Whoever, Owing Allegiance To The United States, Levies War Against Them Or Adheres To Their Enemies, Giving Them Aid And Comfort Within The United States Or Elsewhere, Is Guilty Of Treason And Shall Suffer Death.'
18 U.S.C. § 2381 - Treason
Alejandro Nicholas Mayorkas