Tom Bilyeu

Let's get into it.

silver has another property that parallels america's need for money printing its demand is shockingly inelastic in the short term when silver prices spike factories don't shut down they don't say well i guess we'll just stop making solar panels or semiconductors medical equipment or power electronics what they say instead is we're gonna pay more to keep the wheels turning because

For most of the technologies that matter, silver isn't a nice to have, it is a functional requirement.

You can't substitute it away quickly.

And in many cases, you can't substitute it at all without redesigning entire systems.

That means price does not ration demand the way people intuitively expect.

Shortages don't destroy demand.

They transfer pain from consumers to corporate margins.

And that's exactly the kind of setup that breaks paper markets when physical supply gets tight.

Now, here's where it gets even more dangerous.

Most people assume that if silver prices rise, miners will simply produce more silver.

But that assumption is wrong.

Roughly 70 to 75% of all silver produced globally

is not mined for the silver itself.

Silver is a byproduct.

It's pulled out of the ground incidentally while mining other metals like copper, lead, zinc, and gold.

That means the silver supply does not respond cleanly to silver prices.

If copper demand is weak, copper miners don't ramp production just because silver is expensive.

If zinc or lead projects get delayed, silver supply stalls out right along with them, regardless of silver's price.

Now, look at US debt through that same lens.