“””What China appears to be trying to do recalls the Hunt Brothers back in the 1970s.”””
Only difference is that China supposedly has a use for the silver it is accumulating.
Whereas, the Hunt Brothers saw an opportunity to corner the market, but what were they going to do with that silver hoard?
Potential uses. It's still a hoard until it is put into products. The potential to get burned remains, especially against new mine discoveries, particularly in the Arctic.