Posted on 01/31/2021 5:27:13 PM PST by SeekAndFind
Update: Top users on the Reddit WallStreetBets forum have called on others not to purchase silver, or SLV, saying that it could benefit Citadel LLC, while calling on others to purchase and hold GameStop and related stocks.
Earlier Update: Top bullion dealers are encountering shortages.
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A number of Reddit users on the popular r/WallStreetBets forum have said they are planning to launch a coordinated effort to target silver as their next short-squeeze target.
Posts encouraged individuals to use the IShares Silver Trust, the largest silver exchange-traded fund, and carry out what one user called the “BIGGEST SHORT SQUEEZE IN THE WORLD.”
“Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC,” a user on Reddit’s WallStreetBets wrote. “We know billion banks are manipulating gold and silver to cover real inflation.
One expert said those Reddit users will have a difficult time making an impact in the silver market.
“It is true that the combined efforts of those on the Reddit forums can dramatically influence the price of individual stocks, but if you compare the size of the entire silver market to the market cap of the individual companies that forums have recently targeted, we don’t see this as having potential to significantly move silver into a short squeeze scenario,” John Feeney, business development manager at Guardian Vaults, told Bloomberg News.
“Silver’s market cap is too large and those on the forums typically want to see quick gains, so I wouldn’t read into it too much,” he said.
But Peter Schiff, the CEO of Euro Pacific Capital, wrote that it appears the “Reddit raiders have turned their attention to #silver stocks,” adding: “They’re getting smarter. Silver stocks are actually cheap, and represent good investment value. The fact that some investors were foolish enough to short these stocks makes their trade even better.”
They are correct. The actual value of gold and silver should be FAR higher per inflation. However, the powers that be control that to maintain confidence in the currency which they are printing as fast as they can go. When it finally blows up, you won’t be able to find those people to mete out justice. They will take their diamonds and gold and buy themselves a life in some other country.
I own a fair amount of actual silver (bars/3600 ounces) what does this mean for me?
When it goes way up tomorrow morning get your butt out somewhere and SELL!!!
It’s at $27 and change now. What potentially could we see tomorrow?
It means the value of your portfolio is going to take off. How much? We’ll see. But it is also HIGHLY unlikely it will come down anytime soon, once the actual value of silver is discovered.
Silver has been shorted since the 70’s so this will be interesting.
Was wondering the same. Lots of physical silver...in many ways.
It had a lackluster open tonight. Certainly not a “massive” short squeeze.
Wall Street Bets says not to get distracted and to focus on GME. That all the silver talk is coming from the hedge funds and trying find a backdoor way to get people to sell what they have in GME.
I have been in silver since 2000....I have never seen anything like this in 20 years, ALL majors Apmex, JM Bullion, Gainesville, etc.out of stock. It is about time the manipulation has been uncovered...wait till the Comex has a delivery failure....could pop $100 over night...effectively bankrupting JP Morgan.Whoever is behind flushing out the massive fraud in the silver market, thank you. Gold markets next, honest money is our only hope.
It means if they can jack the prices you can sell at a great price, if you want to.
“Whoever is behind flushing out the massive fraud in the silver market, thank you.”
It seems it is the Reddit Raiders. They are looking for stocks that have been illegally shorted. The Raiders jack the prices and watch the shorts have heart attacks.
I’ve been on the Wall Street Bets subreddit, and I haven’t seen one post advocating for the run on silver. I think this is a ruse to blame the redditors for crashing Wall Street. The posts are overwhelmingly about holding GME.
Silly boy, silver is honest money, has been for 2000 years...not like corrupted, manipulated paper money. $500 oz Ag possible, just ask the Argentinians, Brazilians, and Venezuelans about that.
“what does this mean for me?”
Nothing unless you sell it.
L
great. i’m already long on metals.
Ping
You’re take on all this?
Silver price will go up a bit but it’s too large a market to go 100x.
There were only 76 million GME shares and they were 114% shorted.
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