Chris Olson

That's how much inflation we've had since 1980?

Yeah, $50 then is $190 roughly today.

Yeah.

That's the problem we're talking about.

And then most recently in 2011, silver again tested that nominal figure, but adjusted for inflation.

That number is today in today's dollars, maybe 70, 75 bucks today.

So we're nowhere near any of those previous highs.

And historically, since about maybe 1915 to present, if you look at all of the fluctuation of the gold-silver ratio, the average has been roughly 53%.

So even if we just changed, if the ratio was to be the basis for revaluing the price of silver, it would be over $50 right now based on the price of gold.

It's where silver maybe should be if you think that the ratio is a fair comparison.

Correct.

In fact, the supply that's coming out of the ground, like I said, miners report it being roughly a 7 to 1 ratio, maybe 10 to 1 ratio, depending on the mine that you're extracting from.

So it has industrial demand.

A certain amount is lost every year, so there's some amount of a deficit, I think.

I don't have the exact figures, but then the amount that's coming out of the ground is nowhere near a 90 to 1 ratio or even 50 to 1.

It's 10 to 1 or less.

So the possibilities— That sounds like market manipulation.

That's what a lot of people claim.

I'm not enough of an expert in some of that inside baseball.

I'd let other people talk about that issue who have a lot more information than I do.