Silver is The Achilles' Heel to the Entire Economic System
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Well if you already own it then you aren't really making much of a difference to this silver short scenario--I'm not saying that's a bad thing but it's not going to add any extra pressure to them.
If your goal is to store value in the form of the bit of silver that you currently own then it's better than nothing, although it's probably sterling silver which is 92.5% silver and 7.5% copper, the silver that most people buy is .999 parts out of 1000 pure silver like for example the 'American Silver Eagle' 1oz bullion coin (usually bought more than one at a time). I only mention this because people prefer .999 silver that is recognisable like the American Silver Eagle for instance.
Paper silver is some form of trading mechanism that they use on the commodities exchange (COMEX) and as far as I understand it they manipulate the price of silver and gold using the paper silver/gold by trading it back and forth between themselves without actually having to move the metals. While doing this they somehow take profit based on their knowledge of the price moves (I believe the market reacting to their activity).
The thing with the paper silver is if everyone who owned it asked for delivery they wouldn't have enough silver to cover it by a long shot, there are provisions that they can settle the trade in cash based on the value of the silver they own but the reality is if people all of a sudden wanted to take delivery of their silver it would cause a bit of a furor because they just can't satisfy the potential demand and expectations would be challenged. I believe that the expectation is that they would get silver and not realise it's within the exchange's right to settle in cash.
This is a really rough (possibly misguided) explanation as I'm not all that interested in the specifics of this stuff but it might give you a starting point to look into.
Someone recommended this earlier if you can be bothered to watch it, there is some good info there: https://youtu.be/CjBR0iGDmZA
Thank you for sharing! That makes a lot of sense. I have no idea what kind of silver I have. They were my moms and possibly my grandmother's before???
You make a good point that what I have doesn't affect the market in any way. Duh lol ?♀️
The paper thing makes complete sense vs the physical. Paper is just paper if there is no silver to back it up. So I assume that buying physical silver will still drive the price up the same as buying the paper stocks. I find it very interesting.
Yes basically the factor at play here is sentiment, if more and more people start trying to get silver based on their perception of it's value, it drives the price up and also lowers available supply which would make it increasingly more difficult for the banks to keep up their manipulation.