(bringing over from Festival)
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Big squeeze happening in silver right now.
Wall Street has written futures contracts committing to deliver over 150x the total tonnage of physical available in the world. China which possesses 60% of the world’s silver refining capacity has just frozen exports (effective 1/1/2026).
This has the potential to be a far greater black-swan event than the LTCM event, the Russian bond default or the Lehman collapse that have led to modern financial crashes.
The difference is that the Fed and other CBs cannot print physical silver, so the safety net doesn’t exist.
The Bretton Woods unipolar sovereignty of the US Dollar is at risk (though not immediately), with huge albeit unpredictable consequences.
Some think that the U.S. involvement in Venezuela is actually Trump’s move to reassert US dominance of the natural resources of the Western hemisphere, especially metals and rare earths, in preparation for the inevitable geopolitical conflict (with China and BRICS) around metals and commodities over the next few years.
Greenland would be part of this too.
The atomic number of silver (AG) is 47.