“Physical Demand Will Completely Overwhelm Supply” And How Silver Could Wind Up Over $270
This is Part 1 of a two-part interview with Andy Schectman, President & Owner of Miles Franklin Precious Metals, a company that has done more than $5 billion in sales. Andy is a world-renowned expert in the field of precious metals and took the time to answer some pressing questions I had about the possibility of a real silver squeeze, the precious metals market, the Fed, and the future of money worldwide. He has been a frequent guest on my podcast, as well.
A: More silver is being consumed than is being mined each year. Last year, approximately 850 million ounces were mined globally, with a demand of over one billion ounces. The industrial demand for silver is surging in an increasingly digital world, with new applications every day in green energy and battery powered vehicles.
At the same time annual global mine supply is declining and industrial demand is increasing, a global renaissance in monetary demand is upon us. This is happening while a handful of large Wall Street bullion banks have manipulated the price of monetary metals for decades, allowing some of the biggest money in the world to accumulate massive amounts of physical gold and silver at subsidized prices.
The physical demand filters down from the top. Over 300 million ounces of silver were removed from the Comex market in 2020 by some of the most sophisticated and well healed investors in the world. Settlements on the Comex are usually mostly in dollars…
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