Thursday, December 6, 2012

This Will Consume 30% - 50% of Silver Production

“Silver is not just a medium of exchange. It has a longer history as a medium of exchange than even gold, but it’s much more than that. So when I talk about photovoltaics, I’m talking about just one use of this incredible metal. But this one use, by my calculations, will consume an inordinate amount of silver within the next five to seven years.

I’m talking about the need for 700 gigs of photovoltaics between now and 2020. The amount of silver that we are going to need just for photovoltaics will amount to 30% of all the world’s yearly supply. In other words we will need 30% of those tons (of world silver production) just for this one use. By 2020, the amount that we will need (is a staggering) 50% of the world’s (yearly silver) mine supply.

Now consider the fact that silver is also used for all of these other industrial uses, investment (purposes), jewelry, and so many other kinds of applications. There is no way I can see of connecting these dots (in terms of silver supply). I would stock up on silver."

- Stephen Leeb via a recent King World News interview, read the full interview here:

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