I would put it like this: the current set-up (with the huge short position) looks as if a similar spike (short squeeze) as in 1980 could be possible at some stage. Even if it won't happen, silver traded a long time at levels above 10 pounds, and the silver situation looks more bullish now then back then since the stuff gets used up in industrial applications. On top of that, I don't entirely believe the RPI numbers. Just look at what houses did over the same period.