This crash will allow me to buy maybe 1.5 times as much silver this month as I ever expected to, assuming it goes down to 33. This is terrific news!
I’m expecting the price to ramp up again sharply after the 20th May. June and July are COMEX delivery months, and holders of silver in COMEX warehouses are withdrawing their silver from salable status: 20% in just one week. There is a run on physical silver and COMEX only has enough to meet maybe 6600 contracts. This is extremely bullish.
If the COMEX defaults on delivery in June then silver will go to 100.
If the COMEX staves off delivery in June by paying cash premiums, but then defaults on delivery in July then silver will go to 100.
May has handed us the most enormous opportunity in Silver. It’s like JPM just dropped a crate of silver bars on my doorstep. Thanks guys!
Every component of the CRB index is down sharply. Even crude oil close to breaking back below 100 bucks. Maybe the Fed was right about commodity inflation?