Posted on 02/01/2021 2:54:04 PM PST by RomanSoldier19
JM Bullion You Tube CNBC interview /b>
Also Reuterus
Retail investors turn attention to silver as GameStop shares retreat,P>
A rally in the price of silver lifted the metal to an eight-year high on Monday but those gains faded as some investors questioned the ability of social media-driven traders to move prices in a bigger, more liquid market.
The retail traders’ darling, GameStop Corp, sold off, giving up all of Friday’s strong rally, but other shares caught up in the Reddit rally, including BlackBerry Ltd and AMC Entertainment Holdings Inc, extended the advance that has brought pain to short-sellers.
While a lot of people came in with great enthusiasm that they would see moves in silver reminiscent of what happened with GameStop, “they now realize there is not as much buying pressure pushing it up like some had thought,” said Michael Matousek, head trader at U.S. Global Investors.
https://www.reuters.com/article/uk-retail-trading-silver/silver-becomes-the-new-gamestop-as-metal-soars-to-eight-year-high-idUSKBN2A00WB
(Excerpt) Read more at youtube.com ...
The working thesis as I understand it - and this has been a very old rumor I remember hearing it more than a decade ago - is that JP Morgan is the top dog in silver trading and is the “big short” target. Part of the thesis is that JP Morgan is short silver and short gold in cahoots with the US Govt to keep/manipulate the value of the dollar within a price target as needed. Keeping the price of silver/gold down keeps the dollar up and vice versa. So according to this theory they are consigned with the responsibility of keeping the dollar inside a trading range that the central bank wants and using precious metals as one of the tools.
I agree, the biggest hedge funds are long silver at least in part as a hedge against their cash holdings and short term volatility in stock prices should inflation cause medium term earnings decline among various producers caused by inflationary pressures.
And I do believe we are in for a period of stagflation through 2022.
Question: So much of commodities trading is completed with holders never taking physical possession; what happens when the price takes off and buyers demand delivery of silver...especially holders of say $20/oz silver?
“The market got wind of it, the regulators took notice, and soon enough people took the other side of the trade in bigger numbers. “
If you put the regulators in the 3rd position that is what happened with Gamestop. Difference is social media allows smaller players other than big boys like the Hunt brothers.
You can bet those border guards won't agree with the MMT "economists" who claim PMs have no intrinsic value.
I agree with your assessment. People are concerned about their future, and the geopolitical future, and the potential for a zombie apocalypse, totalitarianism, wars and unrest etc and want to stack metals. And also it is a legitimate hedge against a devaluation of the dollar. To each his own. People who regularly buy silver have probably moved future purchases forward in anticipation of some kind of event that might move the needle. Personally I do think there is room for it to run up, but not in an overnight fashion like we saw in those stock short squeezes. Just chug along up and up over time over the next couple of years. I think I can I think I can I think I can...
Famous investors have made the exact same statement you just made.
If silver gets close to 100 I will probably sell a lot, if approaches 200 i will sell the silver solder from my toolbox
Silver bullets!
The brothers had no idea how much silver was going to come out of closets and cellars when prices reached ridiculous levels. My mom had peanut butter jars filled with silver dimes. They all got turned in at ridiculous prices.
APMEX accepted an order from me on Saturday... either I just made it under the line or they still have stock.
You might not make as much as short squeezing GME, but silver is going up. 5 of the top hedge funds couldn't short it enough t go down now. You might short it enough to make a couple of dollars if you buy it to go up after forcing it down, but I don't see the value in going through all the trouble.
Course the way I think never works. I figured an electric car company that makes 10K cars and GM makes that many a day would be worth maybe $5. I wouldn't own Tesla on a bet, but they seem to do alright. Pelosi bought Tesla the day before Biden announced the government would switch to all electric vehicles. She's rich and I'm on Social Security. Still, I wouldn't short silver.
Redditors are keeping each other out of Silver. Turned out Citadel and the MSM set a trap for them and they sniffed it out.
I think that’s hilarious. Tim Pool’s Timcast today has an excellent report on it.
MSM just flat out lying about Redditors bidding up Silver, and it is widespread too.
“If silver gets close to 100 I will probably sell a lot”
Less than that for me. $60, $70 I could not resist.
We posting like this are coming close to what some have said is market manipulation that caused some big players to lose big $$$$.
It's funny, but also not so funny. People trying to escape the Nazis and other authoritarian regimes actually did do this, and also sewed their jewels into the lining of their coats etc so they'd have some assets when they got to freedom. So if you're gonna stack for this purpose my advice is... also learn to sew.
I sold mine years ago at $45.
Actually, they have targets on about 50 stocks and commodities.
Gamestop was just the first of hundreds.
That was back when $300 grand was real money.
You can get silver bullets, nwtm used to make them and i think silvertowne does now
Yep. but it seems people are hording them
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