If everyone went to the bank and said, I want cash.
I just don't want this, you know, digital representation, good, be a
bank run.
If you came over and that's kind of coming back to your first question
about, you know, when the sum of the population and that's sort of
when it ends is when there's enough physical demand, that can't be
met.
I've been saying for years that you know, the manipulation will end
the cues that we are seeing.
Now we're closer to that.
What I think is an inevitability is one the rhetoric from The Exchange
which occurred four years to the fact that there's been more legal
work that has gone to fruition on the manipulation.
I mean, for years, we've had these cases and they're thrown out
basically why.
People are thrown out come the arbitrarily.
I don't agree with the court.
But what they have said is that they didn't say, there's nothing here.
What they said was there's not enough here for us to go further.
I would argue that's not true.
But we have now where we are.
Yeah.
It's applied to man and you can create infinite Supply with the stroke
of a computer keyboard.
Then you've got a lot of it which means you can't really get the
correct Supply demand.
You know, numbers.
So you're in a situation where you've got an infinite Supply and of
course, that's
That's a metaphor for how much you know paper silver can be created at
whim.
The problem is that there's only so much physical and that problems
only come to the fore couple of times and that's been, you know, from
February January, February of this year, where you get these huge
premiums on a retail silver happen to this financial crisis of 2008,
where you really couldn't get Summer but the commercial bar Market
stayed steady, and that's the point that many people.
Or fail to discuss.
And so, you know all marks movement the margin.
So if it was impossible to get commercial bars in a timely manner and
now your games on and to my knowledge that's only been half that's
only happened one time.
And that was when the Sprott physical silver trust was launched.
I think the amount was 22 million ounces.
Silver.
And in that first trial, judge, the final commercial bars, came in
late and we're freshly poured, and stamped, which I don't think was
illegal or anything, but it was very interesting that it was of such a
demand at one time.
You're 20 million ounces, a little more than I've got.
But the point is that it was hard and the price moved from my memory
two or three bucks, it was
Couple dollars anyway on that one was very interesting because I think
it's important because otherwise you're going to get a bunch of trolls
that are gonna pin.
Me is the next time you made a bit.
But Sprott.
Pslv made a big purchase was almost identical, I believe with 24
million.
So I was licking my chops to know of we're, here we go.
We're going to force the the issue, you know, nope, 24 million ounces.
Here you go.
It's all are not late.
I'll mark it hardly moved.
So it's a pretty big Market.
I mean, it's it depends what you compare it to compared to oil.
It's it's just microscopically small compared to most Commodities if
it was treated as like gold is money.
And in theory could be worth more than money.
But you know, I did that lecture series a few years back.
What if silver were treated this like gold the talked about
Silver and gold were both money and money alone that the ratio never
got above 22 144 thousand years.
So it's obvious from history that the most valuable place for silver
to be is as money.
Not as you know, something that conducts electricity in yourself
silver is that since it is Monitor and metal best inflation hedge.
Everyone on the net it's super cheap.
It's pretty available.
And North America and not so much.
In other areas.
The runs silver could be astronomical compared to what it was in the
1980s, you know, since you've been at 50 nominally, again, and fifty
was the intraday high in 1980.
I mean, if you inflation adjust that you're looking at like six
hundred dollars, but if you just look at momentum and you know, way
markets move.
I've said a hundred back in 2003.
I think that's actually low and how paper terms and, you know, depends
what's happened in the in the idea of the trust of money, you know, if
your if the one or two percent, go to the exit and then more catch on
and know everyone wants out of the dollar, which I think will happen
at some point.
Then it's really hard to put a paper price on it, but for talking
purposes during 150, Maybe
It's really difficult to know.
I mean, I had a friend that was huge investor client and he would, he
was very close to the floor of the comex and he'd have these great stories.
I love talking to him.
And, and I don't remember Jones name, but she years and years ago and
he came in, he was a big chartist, bottom line.
I won't belabor anymore was, he's just Summers going to two hundred
twelve dollars an ounce.
To take a bit.
I'll say wouldn't work Jerome Smith, the bun silver Guru, back in the
1970s.
He wrote, silver profits in the 70s, which was supposedly read by the
Hunts.
And got them interested and silver market.
He wrote silver profits, dat, common, currency crisis, Newcomb and
silver.
The restitution of mine reinstitution of money and several others have
most of them, if not all of them.
And the guy that was his Ghost Writer, Christopher Webber.
That really wrote the reports wrote One years ago.
It's on my on the paid part of the website, how high could silver ago
and he said 200.
So, you know, I say 100, I'm kind of the, we claim of the group, you
know, as most good, follow your channel and others like ours, yours
and mine, and there's the added.
Since they've heard very often.
If you can't touch it, you don't own it.
So that applies people get it in the physical.
Your precious mouth both world, but no one's really applied it to the
to the to the Fiat world really.
So this book which again is Jerome Smith, economic research,
counselors, the reinstitution of money.
I dug it out.
I had to rent a long time and he talks about the ownership theory of
money. And of course, there is like, you can't touch it.
You don't own it.
So I did the thought experiment.
This is now the book violent thinking, but it's like not very profound
thing and it's just so
Okay, let's just play that.
So I did.
So a few went to, you know, what would the austrians call true money
supply, just M1 physical physical, cast, baseman.
M0.
And you said how much you know, currencies out there versus how much
obligations are out there.
It's I forget that member was like 5% or something, but 60% of that is
overseas.
And most of it's in hundred dollar bills, not that we care.
And then if you say well, okay, so drop it from five and a half to two
percent or Susan Trauma from five percent 60 percent overseas.
So drop it to about 2% within the continental United States.
Well, not 100% of that 2% is sitting in the bank.
I'm estimating here.
You can agree or disagree.
I'd say at least half is out in the world was that restaurants gas
stations bars night clubs churches.
There's all this cash.
Now that cast goes from a place of business.
Back into the bank but it's a two-way street, the same time.
The trucks are bringing that paper back to the banking system cash is
being spent every day at restaurant theater, whatever.
So my point is that what the bank's actually have on hand.
If people went to, or their bank and said, I want cash instead of
digits.
So the transferring digital, you know, fiction into physical reality.
Just like you do when, you know, take your bank account down, like
5,000 bucks.
My silver coins, you're taking your bank account down from 5,000
units, on a computer memory into 5,000 units of physical cash.
So if that were to happen, of course, it's about a 101 cover ratio.
I mean, if everyone went to the bank and said I want cash and just
don't want this, you know, digital representation could be a bank
running if you came over and that's kind of coming back to your first
question.
Kitchen about, you know, when the civilian population and that's sort
of when it ends is when there's enough physical demand, that can't be
met and then going back to play the analogy, you know, there is a,
there could be, I'm not going to said it would be, there could be a
point where you know, you we reach equilibrium.
Everybody's happy $250 silver.
The problem with that with silver versus Palladium Palladium really
isn't considered a monetary metal and silver is
Life's up and running.
We're going to talk about that last but that it's got a lot more
emotion tied to it.
So there's people that will never sell it at any price.
And so there's a lot more.
Let's say I'll just use the word again emotion tied around the silver
market, the mirrors, platinum or Palladium.