Silver Chart Adjusted for True Inflation - Does This Look Like a Parabolic Top?

As we near $50 silver, and the nominal all-time high of $50.35, silver top callers have been coming out of the woodwork declaring TEOTWAWKI for silver bugs. (as opposed to TEOT$AWKI that us silver bugs are preparing for)
Perhaps some perspective is in order.

Chart Courtesy ShadowStats

(Yes we know this chart is from 2007 and silver has moved up nicely since then, but so has our money supply as well, which has more than doubled since 2007; in 2011 dollars the 1980 peak would be closer to $500, and well off this chart)