Silver Isn’t Precious Anymore, Just Critical

From katusaresearch.com

“Keep taking pictures,” Buffett said. “Every picture you take makes me more money.” He’d famously purchased $1billion of silver the year before 1998. At the time, that was one-quarter of the global mine supply of silver. And one-quarter of all silver was used for developing film. Buffett may have laughed, but he wasn’t really joking. He actually owned the entire photography development market. Then along came digital cameras. And silver demand slid for decades from 229 Moz in 1999 to an all-time expected low of 24 Moz in 2025. A quarter-century ago, another quarter of silver was used for jewelry and ... (full story)