The argument for a permanent silver shortage are fading about as quickly as some of the digital pretenders. Silver offers a permanence that non-silver alternatives cannot. So while digital cameras may gain precedence, creating a permanent image will require silver. Apparently cds have a bit of a stability problem after about five years.
http://www.silver-investor.com/bigpicture.htm
Whether silver blows this time is immaterial. While I think that it will be beaten back again, the short sellers can no longer draw comfort from the prospect of a digital rescue. Their days are numbered, a fact which many are becoming aware of. And the more the game gets played, the more people are going to start calling their bluff.