As with any/all markets for hard goods, there is only one remedy for a supply deficit: Higher prices. In the case of the longest and most-extreme episode of price suppression in history (which continues to this day), the only possible outcome is a price-spike of commensurate severity. The "third leg" of the precious metals bull is multi-faceted, and given that some of those aspects have not been covered in previous commentaries, deserves an installment of its own. Readers will see this for themselves in Part II. At the time of publication the author held no positions in any of the stocks mentioned.Follow Jeff Nielson @bullionbullsThis article is commentary by an independent contributor, separate from TheStreet's regular news coverage.