SLV - Silver Shortages Suggest We Are Only Months Away From $50 Silver

• Premiums on physical silver coins are at record, and shortages are widespread internationally. This is only possible if silver futures are not priced for a sudden flood of monetary demand.
• Monetary demand tends to feed on itself, as the higher the price goes for a monetary asset like silver, the higher the demand for it goes, risking a dollar run.
• Monetary demand for silver suddenly woke up in early February, causing shortages and rare backwardation in silver that we last saw in March 2020, September 2015, and February 2011.
• After each of those backwardation periods, the paper price of silver skyrocketed within months as arbitrageurs moved in to bridge the physical/paper gap.
• This backwardation is most similar to February 2011, with silver nowhere near lows, and if history rhymes, it suggests we are only months away from $50 silver.

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