NEW YORK ( TheStreet) - A long time ago a wise man once said, "If you're going to be invested in physical silver and/or companies that mine silver, you need to be aware of the downside risk. Being ignorant to downside risk is like walking a tight-rope without a safety wire." Okay, so it wasn't so long ago -- just this past November. And that wise man is your very own Resource Prospector (me). I was referring to the worst case scenario for silver -- which, if we're going to be honest with ourselves, we need to face up to the facts that silver could reach multi-decade inflation-adjusted lows of under $6 an ounce. I really doubt that we'll see $6 silver but that's not the point of this exercise. ack when I made some predictions about silver in that November article, it was in the middle of a momentous straight-line bull market. Nobody wanted to hear that silver could go down. In fact, I had many readers write in to tell me that it was completely absurd to even suggest that silver might dip below $22 an ounce ever again. But my thesis for owning silver is not so rickety as to be shaken by even substantial corrections down to the $16-to-$18 range. Less than a year ago silver sold for $15 an ounce. I bought silver at that price, as well as at $17, $18 and on up the line. If the market's masters of the universe want to push silver's price down for reasons of their own, I'm all too happy to take the other side and buy more physical silver and silver mining companies. As I said back in November, "In the long term (which could be 10 to 20 years - or even longer) I expect that silver will absolutely crush the inflation adjusted high. Paper currency around the world all suffers from the same chronic, debilitating disease: It has no intrinsic value. Eventually, all currencies will go to zero. In such an event, it won't matter how many dollars it will cost to buy an ounce of silver. You'll simply want to hold silver.