@stfh, the price collapsed because it became over extended and...

@stfh, the price collapsed because it became over extended and it fell back to it par value.
That's not to say that par value isn't trending higher, it most certainly is, however it got way ahead of itself and in the process did a great deal of technical damage.

Now as far as above ground supply, Bob Moriarty sums up the silver market better than just about anyone I know of.

http://www.321gold.com/editorials/moriarty/moriarty042511.html

PS It doesn't matter what I or anyone else says some people will only ever believe what suits them. Regardless of the facts.