Jim’s Mailbox

Posted at 10:25 AM (CST) by & filed under Jim's Mailbox.

While we haven’t verified the claim of 3.5 billion silver ounces, this is a very interesting point of view.

Bill

Bill/Jim,

I was scribbling some thoughts on a note pad and did some basic calculations that I thought you might want to share with your subscribers.

I’ve read various estimates of the total current global inventory of silver. The estimates range from about 1 billion ounces to 5 billion ounces. For sake of simplicity, I used 3.5 billion for my calculations.

There are about 7 billion people on Earth. If the silver were distributed evenly, based on my estimate of total global inventory, everyone would receive just one-half ounce of silver. That’s all there is!

If you distributed the silver in 5oz bars, you could only give a bar to one person in ten.

If you had only 100oz bars available to distribute, you could give a bar to just one person in 200. The recipients would represent just 0.5% of the population.

If you only had sealed monster boxes containing 500 one ounce coins, you could only give a box to one person in 1000, or 0.1% of the population.

We usually refer to those holding the top 0.1% net worth as the “elite class”. The purchase of just one monster box of Silver Eagles will enable you to join the elite class of silver owners!

In fact, it’s probably even better than this. Since the ownership of silver is not evenly distributed ( i.e. a small number of entities have huge holdings), it is likely that you would be much higher in the hierarchy than these numbers suggest.

Regards,

CIGA Les