Gold v Silver

Ted Butler states for silver - "Total world production approx 800m oz with 1.3b oz existing above ground now. Open interest on Comex is approx 700m oz or nearly 90% of annual production!  (That is before physical investment demand and the anticipated 511m oz to be used in industry this year).  By comparison, for gold - total world production is about 95m oz (incl what China & Russia keep) and approx 5.5b oz. above ground.  Open interest on Comex is approx 41m oz or only 43% of annual production.  At a 64:1 gold:silver price ratio many are looking to convert.  So if just 0.3% of the total current value of all the gold in the world ($7 trillion) tried to convert to silver that would be more than all the silver bullion that existed! " So whilst both are very bullish situations on supply and demand, silver looks likely to outperform.