We should add that silver was in a huge net surpluss back in 1970-80's with substantial inventories in the US.

The US is now the world's largest debtor nation versus being the creditor nation of the planet back in 1980.

The inflation adjusted price for silver in well north of $100 and this is a much more valid measurement tool than the nominal price for silver as it takes some account of inflation and money growth. Keep in mind that gold has almost doubled now from it's nominal old high price from 1980 and silver will do the same given a little more time.