Don’t be so fast to think silver can’t be squeezed. Most of the silver paper is as naked as the 40% over sold GME. The issuers of the paper can not deliver. Not enough physicals.
In the 70’s the Hunt bros ran silver up from $11 to over $50. It wasn’t oversold then. Overselling increases paper issuers risk exponentially.
SLV’s prospective states that if they can’t get physical delivery, the NAV just diverges from spot silver. So tell me how that works? It doesn’t.
So who is overselling paper in the silver market? People try to apply the naked short GME sitution to silver and it's apples and oranges.