Jordi Visser

When you get into a commodity bull market, which we haven't been in for since 2003 to 2008, you end up in a very tricky situation where everything that's physical, we try to get and use.

And I think that's what's happening in the market.

And I think we're in the very early stages because right now the adoption is just starting to pick up in terms of AI.

Well, the first thing is, and I just gave you some of the solar side, it's getting to a point where the largest demand for it, because solar is the largest demand for silver at this point, you should start to see less demand for solar, and you'll start seeing switching to some degree for, okay, let's do coal, let's do natural gas, let's get generators, whatever the case is.

The problem is...

Silver is also used and needed, like I said, in the military.

This is a critical mineral.

There's a reason why they have the name critical mineral.

And I want people to fully grasp this.

Rare earth, silver, these things all fit into it.

I mean, the US has basically been making announcements after announcements

since the tariff situation.

So my belief is that all of these things are going higher.

At a minimum, here's what I'll say.

Even if silver, let's say it peaks at 125, it goes to 200, it falls back to 100.

The main thing I can say to everyone is it isn't going down in price when we need it for all those S-curves hitting at the same time.

I wrote a piece for 22V this week where I highlighted the S-curves are all happening at the same time, meaning we're at that point in the S-curve where

All the demand kicks in and it's happening at the exact same time.

We need it for EVs.

Autonomous vehicles are getting revved up.