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The Silver Price Spiral, Part III: tomorrow

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In Part I of this series, I introduced readers to the idea that the price of silver could soar to levels which would even surprise most silver-bulls. In Part II of this series, I pointed out that when our “paper inventories” of silver are exposed that this, alone, sets up the silver market for an enormous price-shock. In Part III of this series, I will discuss how silver has perhaps the most-bullish demand fundamentals of any commodity in history.


As I stated at the beginning of this series, a “three-digit price” for silver is assured, while over the long term, that price could rise close to, or above the $1000/oz-mark...but I am getting ahead of myself. This series is all about studying the dynamics of the silver market, so what I will focus on is what we can expect to happen in the silver market (on the demand side) as silver rises to, and then above $100/oz.


The first general point to make about the market for any commodity (or any “goods”) is that markets typically have a “self-correcting” mechanism for when supply and demand are badly out of balance. If supply greatly exceeds demand, prices typically fall until demand is stimulated enough by the falling price to equal supply. Conversely, when demand grossly exceeds supply, prices rise – until that rise in price either discourages demand, or encourages new “supplies” to come onto the market to create an equilibrium.


What has gotten me so excited about silver is that such “self-correcting mechanisms” are almost totally absent from the silver market. As I have already discussed on the supply-side, a quadrupling of the price of silver has resulted in a very muted supply-response. This suggests one of two scenarios: either we have already reached some sort of “peak silver” equation (where supply cannot be ramped-up dramatically – at any price-level), or else silver simply needs to rise to a much higher price to begin to lead to increased mine supply.


The other component of supply which we cannot ignore is the “scrap market”. With silver having been mined for nearly 5,000 years (along with gold), at one time there were enormous global “stockpiles” of silver – silver that is either stored/held by governments, or hoarded by private entities. However, according to the research of noted silver authority, Ted Butler, somewhere around 90% of those stockpiles have been “consumed” over the last 50 years. Thus, no matter how high the price of silver goes, we cannot see any major growth in supply from “scrap sales”, simply because that silver is already gone.


It's now time to examine demand more closely, and what we find here is that as with supply, there is no self-correcting mechanism to moderate the price of silver as it moves higher and higher. In economics, when we talk about supply or demand, we refer to the concept of “elasticity”. Goods which respond dramatically to changes in price are said to be very “elastic” with respect to price. Goods where price-changes cause little change in demand are said to be very “inelastic”.

 


In the case of silver, we are very possibly looking at the most inelastic demand of any commodity which is broadly used/traded in our economies. In other words, even extreme rises in the price of silver will have only a very modest impact on demand. There are two, totally separate reasons why demand for silver is more inelastic than that for any other commodity.


First of all, as I mentioned in Part I (and discuss frequently), silver is not only the most versatile of all metals, but with several of its chemical/metallurgical properties it is essentially unique – meaning that there are no “substitutes” which are available to replace it. Similarly, with some of its properties it is so much superior to other metals that it is effectively irreplaceable.


In the first category is silver's use as an anti-bacterial agent. Silver is unique in possessing chemical properties which make it impossible for bacteria to reproduce. There are two extraordinary implications for this chemical property. First of all, it is impossible for bacteria to ever develop “immunity” to silver anti-bacterial products – unless they literally evolved into a new species (a process generally requiring at least thousands of years).


This means that our health-care systems can use existing products (and develop an infinite amount of new anti-bacterial products) without any fear of such capital expenditures being rendered obsolete/ineffective. And because this is a chemical property unique to silver, there is no possibility of any other commodity being substituted for it – at any price.


At a time when silver inventories are virtually gone, we have a new application for silver (in its very infancy) where there are a virtually infinite number of potential applications, which are certain to remain in demand for centuries (and likely longer) and where there is no possible substitute for silver. As an example of the demand-pressures on silver from this one application, I saw an interesting article on a U.S. government initiative to punish U.S. hospitals which have high levels of deaths/injuries from “medical mistakes” and “preventable” causes. “Preventable re-admissions” alone cost the U.S. health-care system $25 billion/year


With the entire U.S. medical system being crushed by the burden of totally unsustainable costs, no hospital can afford to be “punished” for poor safety/quality of care, and at the top-of-the-list among “preventable” conditions are the vast number of “secondary” bacterial infections which are epidemic in hospitals all over the world.


As an example of this enormous carnage in our hospitals, 30,000 Americans die every year just from “catheter-related blood stream infections”. While I lack the medical expertise to conclude that this problem could be solved or abated with some sort of “silver catheter” being used, given the vast array of silver anti-bacterial products already created, a “silver catheter” would seem to be a very straightforward innovation.


A great place for investors to learn about some of these uses is at The Silver Institute. Searching through its “news” and “uses” sections will give people a general idea of the extraordinary range of possibilities in this single application. I lack the space to even summarize all the uses which have either already been developed, or are being currently researched.


Instead, I will simply speak of the one, particular use which immediately caught my attention when I first heard about it: silver upholstery. It would already seem to be a “done deal” that we will see silver-upholstery being used for all furnishings in hospitals. In addition to formal “pressure” being exerted on hospitals to reduce preventable infections (i.e. the new U.S. initiative), potential legal liability for any hospital which does not utilize this innovation will likely be a much stronger factor in compelling hospitals to act.


Consider how the issue of “liability” operates in our legal system. While the number of “preventable deaths” in our hospitals is atrocious (more than 10,000 Canadians die every year as a result of “medical mistakes”), holding hospitals and medical personnel responsible for these deaths hinges on whether there were/are any practical alternatives to prevent the “harm” in question. If merely choosing a different fabric for furnishings could potentially reduce such bacterial infections (and deaths), this is a “practical alternative” which our courts would not hesitate to impose on our health-care systems...and the day after hospitals begin to systematically switch to silver furnishings, there will be lawyers looking for new avenues of “liability” in this regard.


The next likely “targets” to face pressure to switch to silver upholstery would be every doctor's office and medical clinic. After that, “transportation” and public schools would seem to be part of a natural progression. The spread of diseases around the world through passengers transmitting diseases to other passengers is perhaps the greatest risk with respect to the fear of “global pandemics”. While much of those fears are related to viruses (which are not affected by silver), bacterial infections are still a very serious issue with respect to disease-transmission – especially given the “super-bugs” which have become nearly completely resistant to antibiotics.


The other factor which favors the rapid spread of silver anti-bacterial applications is that the silver is only used in trace amounts. This is another enormously important aspect of silver's “price inelasticity”. When a commodity is only used in tiny amounts, even enormous leaps in price will have only a tiny impact on demand.


To illustrate this in crude fashion, let's look at the use of silver in polyester sportswear, an application which regular readers have seen me discuss on several occasions. As I have mentioned previously, silver is used in polyester sportswear because of its anti-bacterial properties. However, in this case, the silver kills bacteria not to prevent disease but to reduce odor. It is the bacteria which are contained in our perspiration which are responsible for odor. Kill the bacteria and you greatly reduce odor.


What is remarkable about this application is that (by weight) silver only represents 1/40,000th of total inputs. I'm sure that some newer readers out there are thinking that while the use of silver in this application isn't sensitive to price (because of the tiny quantities involved), that such tiny amounts would be irrelevant to total, global demand. Wrong.


With over 20,000,000 tons of polyester sportswear being manufactured every year (as of 2008), that one use “consumes” over 1,200 tons of silver per year, or 38 million ounces per year – and this application is also in its infancy. Apart from the growing sportswear market, obviously there is enormous additional potential for silver throughout the clothing industry.


Don't you think that people spending large amounts of money for their “designer clothes” would want (or expect) that the manufacturers of those garments would also make them odor-resistant? All it takes is for one major designer to “go silver”, and we can expect a host of “copy-cats” following in their footsteps.


The other important point to make here is that if silver can be used in tiny quantities as an anti-bacterial agent in sportswear, then it is reasonable to assume that all of silver's anti-bacterial products will use silver in similarly small amounts – and the number of such potential anti-bacterial products is only limited by our imaginations.


Let me illustrate, through a hypothetical example, just how “inelastic” is such demand. I have no data on the cost of the other inputs in polyester sportswear, but I can afford to be “generous”. Let's assume that silver is (on average) 400 times more expensive than the other inputs of this product. It's likely an over-estimate of the cost of silver, but it's a very handy, “round” number.


With silver representing 1/40,000th of inputs by weights, and if silver was 400 times more expensive than those other inputs, this would result in silver accounting for 1% of production costs for this product. This means that even if the price of silver increased ten-fold, it would only result in the cost of silver becoming a mere 10% of production costs, and represent roughly a 9% increase in the price of the end-product.


Let me repeat this. Using the numbers above, a 1000% increase in the price of silver would result in a 9% increase in the price of this anti-bacterial product. And it is perfectly reasonable to assume that most of silver's anti-bacterial applications employ silver in similar ratios. What this translates to in current prices is that silver could rise to close to $200/oz and have (at worst) only a minor impact on silver's use in this one application.


Keep in mind that this entire discussion revolves around only one of silver's multitude of “industrial” applications. Silver is also used in such low-tech manufacturing such as silverware, soldering, mirrors, electronics and photographic film, while its higher-tech applications include next-generation batteries, high-precision bearings, chemical catalysts, solar energy, and water purification (in addition to the infinite number of medical/hygiene applications).


Obviously, some of these applications use larger quantities of silver, and thus not only are they more sensitive to price, but the silver is used in greater amounts (and thus can be recycled). However, we cannot forget about silver's superior properties. Silver is (by far) the best metal for use in solar energy, due to both its chemical properties and its higher “brilliance” than any other metal. In order for solar power to truly become an effective source of power, we need to use the best solar cells we are capable of designing. Thus, for this entire field, there is essentially no substitute for silver at any price.


The other “industrial application” which I want to focus upon is another “low-tech” use which has been all-but-forgotten: silver jewelry. I have tried (in a previous commentary) to get silver-bulls enthused about silver's potential in the future as the next premier metal to be used as jewelry. Currently, silver “jewelry” is confined primarily to men's cuff-links and tie-clips, and as “junk jewelry” (primarily for younger women). When it comes to “women's jewelry”, silver is almost completely snubbed – totally due to its low price.


With silver being the most “brilliant” of all metals, there are no objective reasons to prefer gold jewelry to silver jewelry – except for price and rarity. Silver jewelry has had little appeal for adult women in recent decades because it was so “common”, and (in a related criticism) cheap.


Silver is roughly 17 times as common as gold in the Earth's crust. This differential has been exaggerated by the grossly disproportional price ratio between silver and gold – which is currently greater than 60:1, and has remained at or above 50:1 for most of the last two decades. However, as I have discussed previously, one of those two parameters has already changed dramatically.


With somewhere around 90% of global stockpiles of silver gone, the amount of (above-ground) silver versus gold is nowhere near that historical, 17:1 ratio. While no firm numbers exist to quantify this, estimates I have seen range from there being six times as much silver as gold, while some commentators are already maintaining that the amount of available gold in the world now exceeds the amount of silver.


Given such parameters, the current 60:1 price ratio is absolutely ridiculous – even without factoring-in all the demand fundamentals which I have mentioned previously. When we include those factors, it becomes safe to conclude that (at current prices) silver is the most-undervalued of all commodities in the world, today, and arguably the most-undervalued commodity in modern economic history.


Thus, an “explosion” in the price of silver is coming – and coming soon...and when that explosion takes place, it will be the re-discovery of silver as jewelry which will be the additional variable in propelling silver toward or above the $1000/oz-mark.


In economic terms, silver jewelry is considered an “inferior good”. Let me clarify this. In economics, such a reference is purely with respect to price. Because silver is the cheapest jewelry (today), it is considered economically (not qualitatively) “inferior” to other jewelry. I mention this point only to observe a basic principle of economics regarding “inferior goods”: as the price for such goods increases, so does demand.


Let me reiterate this point, as it is of crucial importance. As silver rises all the way up to and above $100/oz in price, demand for silver as jewelry will steadily increase not decrease. This is an even more-bullish fundamental than the use of silver in trace-amounts in other industrial applications. With even the most “inelastic” of those uses, demand will decrease at least slightly as the price of silver soars.


Thus, when it finally becomes public knowledge that our silver “inventories” are 2/3 paper (or even more than that), there will be a price-explosion in this market. With the supply of silver grossly insufficient to meet demand, all the “industrial users” will be competing for limited supplies – and the inevitable economic result will occur: hoarding.


At the same time that silver's army of industrial users will be competing with each other to lock-up as much silver as possible for themselves, these users will have to compete for that silver with jewelry buyers and investors. Over the short-term, those industrial users will pay almost any price for that silver – and as that price soars higher and higher, so will jewelry demand.


Similarly, investors who have studied this market will not be dumping their silver onto the market at $50/oz, or $80/oz, or even $100/oz. While obviously traders and short-term speculators will be cashing-in and taking profits at these price-levels, I fully expect net investment demand to keep increasing at least until silver hits $100/oz.


At some point above $100/oz, silver investors can be expected to stop accumulating more silver, and similarly, once silver is above $100/oz, we will begin to see a change in attitude among silver jewelry-buyers (and wearers). At somewhere around this price-level, silver will no longer be regarded as “junk jewelry” (and as an “inferior” good). While this will mean that an increasing price for silver will not also increase jewelry demand, instead a different dynamic will materialize.


When it is no longer regarded as “inferior” jewelry, at that point supply/demand fundamentals become more normal: a rising price discourages demand while a falling price increases it. Thus after silver is propelled well above $100/oz, silver jewelry becomes a “price support mechanism”, where any drop in the silver price spurs new demand.


What these dynamic fundamentals represent, when viewed in aggregate terms is the following picture. Once the silver market “blows up”, due to the extreme/disconnect between supply and demand (and rampant fraud with respect to inventories), the price of silver will go straight up. Indeed, it can be expected to rise from five times to ten times current prices with little to no effect on demand. This is a demand “picture” which is unprecedented in the history of commodities. Then, once the price of silver reaches some new price-plateau (at some three- or four-digit number), new fundamentals will evolve (specifically with respect to silver as jewelry) which will serve to keep silver at an elevated price – and not suffer some sickening collapse, as would normally be expected with a commodity which had “spiked” in this manner.


To keep this series to a minimal length, I have been forced to briefly summarize a large number of fundamentals which (as I have stressed) are essentially unparalleled in the history of commodity markets. This means that the reaction which will take place in the silver market when rampant fraud and depleted inventories are exposed will also be unlike anything we have ever witnessed before in our personal experience. And every day that silver remains so grossly under-priced, all of these fundamentals simply get stronger.


As a precious metals commentator, I would never discourage investors from adding to their gold-holdings. For many different reasons, gold also remains under-priced – and as the perfect “monetary” metal, all investors should have some gold holdings in their portfolio. However, at Bullion Bulls Canada, we have been first-and-foremost “silver bulls”.


Today, silver is one of only two forms of “good money” (along with gold) – at a time in history when all the “bad money” (i.e. un-backed “fiat currencies”) is in grave danger of plunging to zero. However, even if silver had never been used as “money”, or even if there was not a great need for “good money” today, the merits of silver in terms of basic supply/demand fundamentals represent an unprecedented investment opportunity.


While those investors who have been accumulating silver for many years may curse the continued market-rigging of the bullion-banks, for newer investors, the nefarious deeds of these miscreants can be thought of as “keeping the train at the station”. Today, investors still have one, last opportunity to buy silver at (literally) “once in a lifetime” prices. When silver explodes above $100/oz, it will never return to current, absurd price levels.


All aboard!

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navderek
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written by navderek, June 21, 2010
True enough...
Now one very valid point that many people fail to understand or mention is the effect of ROHS compliance on the consumer electronics industry and how this relates to the consumption of silver.

If you are not familiar with this I beg you to look into it. Specifically focus on June or July 2006 when the policy was passed in Europe.

To be brief, there was no requirement until then to use "Lead-free" solder when manufacturing consumer electronics...but to comply with ROHS (Reduction of Hazardous Waste) manufacturers had to step up their game and begin using this "Lead-free" solder. I know fisrt hand the difficulties of using this new solder because I worked in the electronics repair industry at the time. The key thing to note is that this "Lead-free" solder is now composed of 3% SILVER. smilies/cool.gif Prior to that only a combination of Lead and Tin was used...the Lead has been replaced by Silver and other alloys, as stated above 3% comprising silver. I think this is HUGE and has been overlooked by many.
Jeff Nielson
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written by Jeff Nielson, June 21, 2010
The "tarnishing" argument is certainly a valid point. However, the SAME aspects of our psychology which cause us to buy LESS gold when it becomes "too expensive" will cause us to consume MORE silver when it becomes "more valuable".

Most people will no longer stoop to pick up a penny - but will generally do so for a quarter...
navderek
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written by navderek, June 21, 2010
I'm not so sure that the simple rise in price of silver will ever cause more silver jewelry to be consumed...for any reason. If anything it will be the rising price of gold that will cause more people to buy silver jewelry because they just won't be able to afford the gold.
Silver does have a few drawbacks, one being that it loses it's "brilliance" quite easily whereas gold never tarnishes, and it my opinion looks better with a little wear (maybe I'm crazy).

There is no doubt though that silver will rise and by how much is anyone's guess! smilies/grin.gif
Jeff Nielson
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written by Jeff Nielson, May 18, 2010
Thanks for the comment, Menthalo.

I must admit that my own confidence that the "end is near" for the banksters grows by the day. Not only is the PUBLIC head-way being made by GATA and others dramatically changing the public's perception of what is going on, but there is clearly also a lot now taking place "behind the scenes" - of which we're still hearing little more than rumors.

I expect that to change significantly before the end of this year.
Menthalo
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written by Menthalo, May 18, 2010
Hi Jeff
Hi everyone
French geopolitical analyst, I wrote a lot about Silver at 1000$ an ounce and 1000€ an ounce, lately.
We won't wait 10 years for that. The short squeeze and the new monetary system will arrive in the next 18 months.
Don't believe that you could make more profit using the mining companies as a leveraged tracker.
Through the "borrowing stock program" of the DTCC, "they" already sale naked short every silver mines and the SEC does n't say anything. Remember that the SEC as a lawsuit for covering 3,87 trillion $ faked shares of CMKM.
All the system is driven by crooks.
"Take the silver and run".
Fiat money is about to explode. DJ and all the stock market is about to implode.
It's time to stop playing even with puts. Its time to be reasonable and just stock gold and silver coins.
This is true in US, Canada, UK and all over Europe.
smilies/cool.gif Just look at the system's agony and carpe Diem
Jeff Nielson
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written by Jeff Nielson, May 12, 2010
Hey guys, we're all on the same side, here (unlike some of the spam-sites which are all too prevalent).

So let's see everyone express their opinions openly and honestly, since we don't need to suspect each other of any 'nefarious motives'.
kumanari
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written by kumanari, May 12, 2010
No disrespect intended sir.
JsJ
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written by JsJ, May 12, 2010
Kuma, 2 things:

Jeff knows my background and respects my information. If he hears the criticism from me, first, he can research and be able to provide answers to propagandists when they attempt to disinform. One of the answers is, even if it isn't perfect and resistance develops, it will still be enormously useful -- even vancomycin has resistant strains, but it is still incredibly important to physicians and biological researchers like me. Criticizing a case only makes it stronger, so long as it is true in the first place!

That leads me to my second point. I know that you don't know I'm not a propagandist, but the way to answer propagandists is with cold logic and reason, not cheerleading. There is money on the line here; no one needs to put on a skirt and hop around with a megaphone. This is serious, and if it is serious, it requires serious conversation. It's not an, "Our side, their side" kind of situation. Those who would suppress the price of metals unnaturally rely on lies and misinformation, so let's rely on truth and clear vision to guide our financial decisions.

If you want pom-poms and cartwheels, well, don't come to this website. http://www.cnbc.com/ has much more to offer in that department... smilies/tongue.gif
Jeff Nielson
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written by Jeff Nielson, May 12, 2010
Thanks for the support Kumanari, but it's good to have people like JsJ who challenge my statement of the facts.

I'm actually doing some further research in this area, and learning that my previous appraisal was not 100% accurate. I'm not "retracting" anything, but think I will be able to provide additional detail on this area - which confirms the enormous potential in this area, but clarifies silver's role as an "anti-microbial" agent.
kumanari
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written by kumanari, May 12, 2010
JsJ lighten up please! whether Jeff (and the industries that are using it) is 100% accurate as far as silver's ANTIBACTERIAL/MICROBIAL properties are concerned is of little import. They believe the science that says it works they create DEMAND voila ! Diamonds, ethanol,GREEN ENERGY........perception-reality????
You do great work Jeff Mahalo nui loa! I'm sure you will be way too busy burrying your ag deeper to debate anyone I know I will. TALK TO THE PRICE
A hui hou malama pono
Jeff Nielson
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written by Jeff Nielson, May 06, 2010
O.K., I surrender.

You're getting too technical for me now. At the very least, this is an anti-bacterial treatment which will be PERCEIVED by laymen (such as myself) as being far superior to any other anti-bacterial treatment thus far created.

Also, anti-biotics were never really intended as a PREVENTATIVE measure against bacteria, but rather a means to treat existing infection. Given that cost-factors dictate that our entire health-care systems will have to be far more concerned with prevention in the future, I'll even accept that silver only represents a "solution" for "as far as the eye can see".

We can have this debate AGAIN, once silver crosses the $100/oz plateau (lol).
JsJ
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written by JsJ, May 06, 2010
Correct, Jeff, silver is less likely to cause resistance than antibiotics.

I admit the "Human Epoch" was meant to be a bit tongue-in-cheek. That's me: cheeky!

Experts are often wrong. This is coming from an expert. smilies/wink.gif

Vancomycin was developed as an antibiotic that would never develop resistance. I should say "never" develop resistance, because there are resistant bacteria now. The reason it was thought they would not resist it was because of the geometric effect of multiplying stochastics on probability, i.e., it was exponentially less likely for a bacteria to evolve *beneficial* multiple changes in their cell wall structure development *simultaneously*, i.e., in one fell swoop. Apparently it happened. It was considered to be a vanishingly remote possibility -- and now it is the reality.

I am not trying to put a silver nail in the coffin, or, er, rather... a nail in Silver's coffin. Whatever. What I'm saying is this; bacteria are far more capable than humanity gives them credit. Considering the currently evolving theory on Extropy (spontaneously arising order) and up-to-the-minute discoveries on Horizontal Interspecies Inheritance (humans have bug DNA?!?! Yuppers), I for one am loathe, *loathe*, to say, "forever and ever, amen". Of course, you didn't say that either.

Many antibiotics are "bacteriostatic" (inhibit reproduction) as opposed to "bacteriocidal" (kill the buggers!). Silver is, therefore, not unique in that regard. If it functions versus bacteria by generating radical oxygen species (ROS) via inhibiting the electron transport chain (as it does in mitochondria), then silver could be either of those above two types, depending solely on concentration. The point is, not a lot is known. Research is required.

There are many +2 valence metallic electrons in the world's bacteria, and whichever "works" that Ag happens to be "gumming up" seems to be a good thing to gum up, at least so far up to this moment. The part that I would like to caution the antibiotic silver Polyanna crowd (not, you; your experts) is that, with literally millions of trillions of independent little lifeforms, over the course of decades, there is gonna be a bug somewhere, somehow, who figures out that silver ain't so bad after all. That day *will* come. In our lifetime, maybe or maybe not... but on the order of 'a thousand years'? Definitely.

That it no way is meant to say silver's bactericidal/static effects are not valuable. Quite the contrary. Pennicillin is probably the most commonly resisted antibiotic out there, and it is still used *heavily*. I'm just saying, silver is not an, emm, err... well... "silver bullet".

Sorry for that.

Love the write-ups. smilies/wink.gif
Jeff Nielson
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written by Jeff Nielson, May 06, 2010
JsJ, I never said that silver would be effective as an anti-bacterial agent for "the remainder of the Human Epoch", and I realize that I'm somewhat "over-matched" - given your medical background, but here is how I understand this process.

To use a chemical metaphor, instead of silver killing/destroying bacteria, it essentially renders them 'inert' by making it impossible for bacteria to reproduce. This is entirely different from ALL other substances used against bacteria (predominantly antibiotics).

Those other substances literally attacked and killed the bacteria AND thus triggered mutation. There are two reasons why bacteria will be very, very slow to ever adapt to protect themselves against silver.

First, silver is not TOXIC to bacteria - and so does NOT trigger the mutation process. Secondly, because silver makes bacterial reproduction impossible - by preventing the cells from dividing - bacteria would literally have to evolve into a NEW species (with a new means of reproducing).

Lastly, it was the conclusion of those who developed these products that bacteria would not be able to generate "resistance" to this treatment, so I will "hide behind the skirts" of the experts who claim this to be true.
JsJ
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written by JsJ, May 06, 2010
Jeff, the ability to evolve resistance to silver would not *necessarily* take thousands of years. A bacterial "generation" is approximately 20 minutes, so one thousand generations of bacteria is only about two weeks. Without knowing the specific mechanism of silver's activity, and whether it's broad interference with multiple proteins, or interference with just one aspect of bacterial biology (like most antibiotics), it is impossible to know... but possible to speculate. smilies/smiley.gif

Since mutation is a stochastic effect, silver's broad effect across a series of proteins would be most helpful in delaying acquired resistance (multiplying stochastic events has a geometric effect on probability). Assuming that the effects on bacteria are similar to the effects on mitochondria, it seems that it does -- at a minimum -- affect multiple proteins in the metabolic pathway. Potentially it has other effects as well, but more research is required.

It can be said with confidence that resistance at the present time is limited, however, it cannot be said with confidence that bacteria will not become resistant for the remainder of the Human Epoch. smilies/wink.gif
Jeff Nielson
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written by Jeff Nielson, May 04, 2010
Good point NolaM.

"White gold" (with a lesser brilliance) is "prized jewelry", while silver is just for "accessories" - at less than $20/oz.
NolaM
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written by NolaM, May 04, 2010
You so nailed this one.
Take a look at this weeks Peoples Jewelers Mother's Day Flier.
3/4's of the Bling is Sterling ...Available also in Gold in the small print...
But the new rage is 'White Gold' so Sterling Silver in the same styles is a no brainer.
I believe I need to take my scale and 'invest' in a few sale items...LOL

Enjoyed all 3 parts. Backpat...Thank-you...

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