The Reddit “retards” and others have fleeced $75 billion from hedge funds shorting GME -and it still going on. There was talk on Reddit of going after silver. They have the funds to make a run on it at least.
Yeah it seems that a storm is brewing. We’ll see what happens but many reports of a run on physical silver on the retail side over the last few days. And the price of spot silver closed up $2 from $25 to $27 from Wednesday’s close and Friday’s close. All of this is conspicuous evidence, but not proof, that some traders may be mounting a run on it.
The (conspiracy?) theories about JP Morgan cornering the market on silver has been out there a very long time. I remember hearing about it at least 15 years ago. And it probably goes back further than that - perhaps back to the days when we went off the gold/silver standards for paper money. Only now, it seems that perhaps a flash mob has bought into the theory and thinks it can beat the game. Again, we’ll see.