paper silver pushing up or down eventually?

[Suisu]

Hi BrotherJohnF,
I'm frequenting your very informative web page daily from far, tiny Switzerland and appreciate very much both the you tube clips and also the numerous very informative articles posted on the website.Tks!
Here's my question:
According to various Internet resources the ratio between traded "paper silver" and real physical silver available is around 100:1.
Now I can see two major possibilities with contrary effects on the silver price if holders of paper silver are "escaping" from worthless paper:
1.) A paper silver holder is asking for physical delivery. This action is very likely to push silver price up due to further shortage of the already limited amount of real silver.
2.) A paper silver holder sells his position, causing a push down effect on the silver price.
Now when it comes to the end of the paper silver world and many paper silver holders are "running to the door" at the same time, what scenario will we possible see in silver price while paper silver gets wiped out? Since many paper silver holders know that physical delivery is difficult and partly not possible, wouldn't most of these paper silver guys in panic choose to quickly sell their position and thus cause a significant drop of silver price (before we'll see the rocket departing).
Thanks for answering,
kind regards from a non-EU country,
Suisu