Well when it comes to demand exceeding supply it can happen in...

Well when it comes to demand exceeding supply it can happen in one of two ways. Supply drops or demand increases. You mentioned silver can only be squeezed if producers withhold product, which is only part of the story. As good as experience in any topic is, it doesn't necessarily mean you will be able to see one off or rare events better than anyone else. In fact it can often cloud judgement on those types of things.

If we look to the LBMA vaults since Dec 2017 to now, gold stored there has increased 22% and silver has increased by 4%. 4% growth over 4 years? Now this doesn't prove anything but it is certainly an interesting thing to have in your brain for other reasons.

Next if we look to the ratio of gold to silver stored at LBMA there is 3.7 times more silver than gold at LBMA in ounces. The historical trend of silver production is that it is mined at an 8:1 ratio. Now there are a variety of factors playing into why they only have 3.7 times more silver than gold, the biggest being storage cost, but it is also an interesting thing to keep in your brain considering the price difference is over 70:1 . The COMEX ratio of silver to gold in ounces is over 10:1 . I don't believe the total numbers stored at LBMA or COMEX but the data they do "leak" is interesting and with a bit of sleuthing one can theorize the most likely current situation.

Gold isn't used industrially like silver is, most of the mined silver goes into industry that is growing. The rest of silver production is made up of bs numbers from "recyclers" that no one can verify and relies on surveys and other easily manipulatable things, in fact it seems the whole world gets its silver numbers from one company in London. Silver demand has been higher than supply for at least 25 years, and they have been using past government and bank stockpiles to cover most of the supply gap and calling that "recycling".

Are there any signs right now that their silver stockpiles are running low? If only...