Everything that is not experienced is real. The real never appears. That's what I might have said. What appears is a good point. But the reality of this waking world is the terrium which does not appear out there in front of you. Its appearance is nothing other than the terrium, then what does it refer to? Nothing. In that case, hmm has nothing to refer to. Ah, hmm are negated. When you remove words, what is left behind is silence.
Swami Sarvapriyananda teaches one of the shortest and most profound upanishads accompanied by Gaudapada's Karika. This lecture covers Karika 22-23 and Mantra 12.