Posted on 02/01/2021 2:54:04 PM PST by RomanSoldier19
PMs are a disaster hedge, not an investment.
I have no interest in selling mine. No SHTF, then my daughter inherits. I’m happy with that scenario.
When I get rid of my lead and brass, it will be one bullet at a time. And I will give it away for free.
Good for you.
That makes me smile. That stuff don’t blow way like greenbacks. Gives new meaning to “one for you and one for you”. :)
Dummies didn’t know that most hedge fund and institutional investors were already long silver. There is no huge short interest to be squeezed. So much for the idea that this was some kind 0f genius move.
I remember the Hunt Brothers trying to corner the market and other fools joining in, including a couple of guys in my college dorm that bought silver on margin. They lost everything they had and then some.
In related News, Gamestop has announced that they will be giving away a Morgan Silver Dollar with every Video Game purchased from them.
Supplies are limited.
“I remember the Hunt Brothers trying to corner the market and other fools joining in, including a couple of guys in my college dorm that bought silver on margin. They lost everything they had and then some.”
I remember the same thing. Sitting around some bar/dorm in college ( after way to much beer)listening to guys talking about how they were spend all the money they were going to make on silver. Did not work out that way. At least they were young enough to recover/learn from it.
Yeah, commodities like silver is a completely different game than the stock market. It’s like MLB vs T-Ball. Stocks can be rigged much easier.
I actually agree with the GameStop short thesis. It’s not a long-term viable business imo as gaming platforms move to online, you don’t buy a disc or cartridge at the store. Maybe if they can change their business model they can survive long term. But the squeeze was incredible. For AMC, maybe they can keep the doors open if they can pay their lease obligations during the restrictions and lockdowns, down the road people will still go to the movies (though there is some question about it long term, with talk among the big studios about having to make movies into major productions that can run for a year to compete with streaming, which is why they are making so many action hero films). Blackberry, I loved my BBs back in the day, they still have a path somewhere if they can figure it out. And with stocks there is a limited amount of availability of shares.
But silver is an international commodity, with more under the ground and under the oceans and in the stars that has impact on currency markets, industrial use, inflation and oil prices and so much more. Every nation on earth has an interest in the price of silver.
I can see it blipping up on a short term run on demand. And I can see where individuals might run the retail/wholesale inventory shelves out of stock of silver coins and bars. I can even seeing trending up over the next few years as an inflation hedge. But I don’t see how a bunch of people trading on their iPhones can move the market for silver options. They are up against an entirely different opponent.
A scheme by the werewolves to keep silver off the market.
My brother lost $300,000 on that one. Ouch.
> Silver wasn’t pimped on Reddit’s WSB. Rumor there was that it was a misdirection by the hedge funds/big media to lessen pressure on GameStop.
ingenious of them. now, wondering if any way to profit from this (possible) insight...
It worked, until it didn’t. Hunt Brothers actually did accumulate about 30% of the world’s supply, and drove the price way up. But they got greedy and held/accumulated for too long. They should have been taking some profits along the way. The market got wind of it, the regulators took notice, and soon enough people took the other side of the trade in bigger numbers. They lost about 80% of their family’s oil fortune in the end. Losses of about $4 billion in 1980’s money. That’s about $12.5 billion in today’s inflation adjusted dollars.
Failing business model when you can buy video games via Amazon. Don’t get it.
Yep. The WSB folks denied having anything to do with this from the start. This is big money manipulating the WSB phenomenon to slow the short squeeze bleeding. Silver was already overpriced.
Well according to the interviewee, this surge is from their regular customers.
I am much more inclined to consider that it is Biden’s Pen causing this level of nervousness in the market.
How many “investors” buying and selling silver or gold actually buy and sell gold and silver? They are buying and selling paper that has no physical backing. A gambling fantasy. The price of paper silver and real silver desperately need to be decoupled. Which cannot be allowed to happen or it would collapse fiat currency.
If there were no paper bullion I believe we would be seeing a very different situation.
The entire stock market is completely phony. None of this is based on the real world. Quantitative easing, FED intervention in the stock market at pre selected loss points. Government bailouts and so on. This is the Matrix.
PMs?
I keep just enough to bribe the boarder guards....
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