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SILVER TO $3,947? Unpacking Tavi Costa's Formula — Insane or Legit? Tavi Costa from Azuria Capital shared a calculation this week that broke the internet. Silver to three thousand nine hundred and forty seven dollars. I thought it was insane. Then I actually sat down and decoded the math. The calculation starts with a chart most people have never seen. It shows what percentage of US government debt is backed by gold reserves. During World War Two it was fifty one percent. Today it's three. What that implies for the gold price made me stop and recheck the numbers three times. But that's only the first piece. There's a second chart that goes back over a hundred years. It tracks a single ratio that has predicted every major gold bull market. It peaked in 1929, 1966, and 1999. Where it sits right now matches the exact same level as 1973 — right before gold exploded. Then I applied a third ratio that connects gold to silver. And this is where I disagree with Tavi Costa. I ran four different versions of his math — his aggressive version and three of my own. Every single version gave me a number that changed how I think about this market. Even the most boring one. I also found a smart bear argument in the comments that made me pause. They raised a point about supply that I think deserves an honest answer. So I gave one. There are three specific risks to this entire thesis that I lay out. And there's one thought that keeps me up at night about the size of the silver market versus global debt. If you hold silver or gold, this is the most important math you'll see this year. 🔔 Subscribe — I'm decoding this market every single day 👍 One like helps thousands more find this 💬 What's your silver target? $400? $600? $1,000? Drop it below — I'll pin the best from both sides ⚠️ Educational and entertainment purposes only. Not financial advice. Do your own research. #silver #silverprice #gold #goldprice #tavicosta #silvertarget #preciousmetals #goldsilver #silveranalysis #dowgoldratio #comex #physicalsilver #silvermarket #silverinvesting #thehiddeneconomy