# Silver MOC ## Core Thesis [[My Silver Investment Thesis 2026]] ## Market Structure & First Principles 1. [[Silver Value Chain]] 2. [[Silver Price Discovery - Paper vs Physical]] 3. [[Silver Dual Nature - Industrial and Monetary]] 4. [[Byproduct Silver Problem]] ## Physical Market Indicators 1. [[Silver Lease Rates]] 2. [[Silver Swap Rates and Forward Curve]] 3. [[Shanghai Silver Premium]] 4. [[Why Silver Physical Indicators Matter]] ## Supply Dynamics 1. [[Silver Mining Production]] 2. [[Silver Refining Chokepoint]] 3. [[China Silver Export Restrictions 2026]] 4. [[Silver Structural Supply Deficit]] 5. [[Why Silver Supply Cannot Respond to Price]] ## Demand Drivers 1. [[Silver Industrial Demand]] 2. [[Silver in Solar Panels]] 3. [[Silver Investment Demand]] 4. [[Why Silver Substitution Fails]] ## Market Dynamics 1. [[COMEX Silver Futures]] 2. [[Silver Arbitrage Breakdown]] ## Related Concepts - [[First Principles and Mental Models MoC]] - [[The Great Inversion]] - [[China Resource Weaponization]] --- #investing #silver #deeptech #commodities