it is so heavily shorted and the price so suppressed that there very little incentive to actually mine it.
The shorting of silver is because there are many times the number of shares than there is silver in the comex.
That has NOTHING to do with the silver supply in the population. I don't know anyone who doesn't have a fair bit of silver (though I am a large influence in that, so not the best random sampling). I do know though, that we keep buying out all the silver available in stores. I think there is so much out there now, we could almost certainly have enough for an economy.
Maybe if the price was allowed to rise you might see the supply rise
You are thinking in terms of production. I am thinking in terms of what already exists in circulation. We have enough already in circulation. The same can't be said of gold.
I only brought up paper silver because it is the current price discovery mechanism and this has an effect on supply side. Don't get me wrong, I believe silver is still money but whether it can be a reserve standard I think is a different matter. I could be overly conflating the historical significance of gold instilling trust back into the system after a credit collapse, and gold having historical significance as the reference point to price all goods and services. For that it shouldn't matter how much is in circulation, but what the giants choose to hold.
gold having historical significance as the reference point to price all goods and services
Only after 1873. Prior to that it was always silver in America, and most of the world.
The coin act of 1873 (where we went on the Gold Standard) gave all power to the bankers (who held all the gold), and took all power away from the citizens (who held silver). This was the beginning of the end of America.
I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.
The shorting of silver is because there are many times the number of shares than there is silver in the comex.
That has NOTHING to do with the silver supply in the population. I don't know anyone who doesn't have a fair bit of silver (though I am a large influence in that, so not the best random sampling). I do know though, that we keep buying out all the silver available in stores. I think there is so much out there now, we could almost certainly have enough for an economy.
You are thinking in terms of production. I am thinking in terms of what already exists in circulation. We have enough already in circulation. The same can't be said of gold.
I only brought up paper silver because it is the current price discovery mechanism and this has an effect on supply side. Don't get me wrong, I believe silver is still money but whether it can be a reserve standard I think is a different matter. I could be overly conflating the historical significance of gold instilling trust back into the system after a credit collapse, and gold having historical significance as the reference point to price all goods and services. For that it shouldn't matter how much is in circulation, but what the giants choose to hold.
Only after 1873. Prior to that it was always silver in America, and most of the world.
The coin act of 1873 (where we went on the Gold Standard) gave all power to the bankers (who held all the gold), and took all power away from the citizens (who held silver). This was the beginning of the end of America.
I believe that what was Wizard of Oz was all about. The only correction is that it was a bimetal standard not necessarily a silver standard.
I don't think a bimetal standard can work. Supply and demand fucks it all up. That doesn't mean you can't have two different metals (or three, etc.) as coinage, but only one can be standard or you get issues. More importantly, it opens up the door for manipulation.
To have multiple moneys as coinage, you simply make one defined as a "dollar" (like our current definition of 371.25 grains of silver) and make one "1 oz gold" or "1 oz copper" (e.g.). Then the value of the other metals simply is whatever it is for that day on an exchange based on supply and demand. Easypeasyjapaneesey.
I don't know how the Wizard of Oz fits in though. Tbf, it has been a long time since I've seen it.