February 10, 2006
A silver ETF is necessary to establish a realistic price for this dwinding resource. As things stand now, there is a continuing annual shortfall of mined silver vs. silver consumed for industrial use and jewelry mfg.
As you know, silver is now mined as a byproduct by copper and zinc miners. Market prices for silver are just too low to justify the investment for silver mining per se. Before silver supplies reach a critical stage, a silver ETF would enable miners to get a market price which would justify the investment in new silver mines, which would employ many workers, thereby helping our economy.
Thank you for this opportunity to be heard.