Posted on 01/30/2021 10:05:16 PM PST by Technocrat
APMEX prices started rising by the minute two hours ago and they are now out of stock on all significant silver coins. Available rounds if you can find them are now priced at double to triple the spot price. A coordinated attack against JP Morgan and other silver market manipulators was proposed on Reddit on Friday. The link above goes to junk silver.
The action now appears to be spreading to Gold somewhat
Exactly. It’s all on the up and up.
Because Bigly promises it’s so.
And we trust Bigly because he says he’s telling the truth, but we normals are just too stupid to understand the nuances.
Bigly disagrees Bigly.
Short squeeze on GME is not the same as silver.
Game Stop has issued a fixed number of shares.
Silver miners constantly produce new stock, manufacturers consume stock and folks sell their “junk” silver for cash.
He may be a noob, but he is absolutely correct in his statements about commodity futures contracts. I trade them daily. That being said, most contracts are exited before expiration so physical delivery never occurs. Traders are VERY aware of the dates as expiration nears.
Nah, we’re just to stoopid to unnerstand all yur big werds. We shood just lissen to our betters, like new guy Bigly.
(BTW, Bigly, the peasants are still revolting.)
Reddit Preparing To Unleash “World’s Biggest Short Squeeze” In Silver
https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver
So, this should be no problem, and it will just be shrugged off?
https://www.zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver
[Excerpt from above]
The short squeeze:
Buy SLV shares (or PSLV shares) and SLV call options to force physical delivery of silver to the SLV vaults.
The silver futures market has oscillated between having roughly 100-1 and 500-1 ratio of paper traded silver to physical silver, but lets call it 250-1 for now. This means that for every 250 ounces in open interest in the futures market, only 1 actually gets delivered. Most traders would rather settle with cash rather than take delivery of thousands of ounces of silver and have to figure out to store and transport it in the future.
The people naked shorting silver via the futures markets are a couple of large banks and making them pay dearly for their over leveraged naked shorts would be incredible. It’s not Melvin capital on the other side of this trade, its JP Morgan. Time to get some payback for the bailouts and manipulation they’ve done for decades (look up silver manipulation fines that JPM has paid over the years).
The way the squeeze could occur is by forcing a much higher percentage of the futures contracts to actually deliver physical silver. There is very little silver in the COMEX vaults or available to actually be use to deliver [rest at link]
Sometimes I regret the name - I chose it tongue in cheek - but it’s really old now :)
You can't even accidentally stay in (I know you know this) if you are not designated as a hedger or a commercial. Before the final week (typically), your broker will warn you to go flat. Ignore that warning and they will close out any positions for you.
A couple of days ago, APMEX had non-numismatic silver Eagles at around $7.00 over spot. Suddenly they have nothing but numismatics. Something is going on.
I had my finger on the 1000 face bag but my wife talked me out of it. 30 minutes later it was up $1000 and an hour after that it was gone.
Quite true, but the market cannot respond as quickly as this is going to roll. If they spike it over $75 you should sell but it will take a week or two to settle down.
Well, yeah - SEE? They’ve got a CONTRACT!! :)
Lets combine this run with the shortage that will happen due to shifting to electric cars and it’s going to make the Hunt Brothers run look like a penny savings account.
I did the same in the early 2000’s. Let’s enjoy it while we can, LOL! :)
A similar scenario (in reverse) occurred last spring when an expiring crude oil futures contract price went negative. The longs (not shorts) got squeezed as prices plummeted. As expiration date neared they knew they would be responsible for taking physical delivery of 1000 barrels of crude oil for each contract they held. They wanted to sell but there were no buyers as storage capacity was full. They ended up paying about $4000 per contract to exit the contracts to avoid physical delivery.
Bigly is a little boy looking to sound “in the know”. He didn’t know what a naked short was. I’ll pass talking to children on these matters.
In commodities, there is no need to have physical cargo if one sells a product short. It would go against the nature of what commodities are supposed to be used for.
For example, a farmer may wish to sell his expected corn crop in the spring, before it’s harvested. So he may sell December futures, and deliver on the product 6 months later. That’s a perfectly valid use of short-selling for hedging.
Large bank Short-selling on silver has always been in the realm of myth, inference and conjecture. I don’t think anyone knows for sure, except the banks themselves.
We know the WEF is pushing for the Great Reset, guess my tinfoil hat is on this morning, but is it possible that ‘someone’ is feeding these “Reddit kids” information to do this? In order for the reset to work or even be demanded by the global community a financial crisis needs to happen. Bigger than 2008.
Hindsight we know governments around the world have been buying up gold and precious metals for a few years now. Is it possible this is not Reddits, but China attacking again? Is it possible this is part of the currency war to crash the dollar or all government currencies and usher in the new global digital currency?
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