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Are silver prices going to go through the roof? 🚀
Panda4456
Posts: 362 ✭✭✭
Will this affect the prices of our coins? It looks like these piece of trash hedgefund managers are purposely trying to push down prices to try to make our commodities worthless so that they stuff their own pockets. It looks like Wallstreetbets is going to start buying silver to pressure these hedgefunds into covering their shorts. Silver prices are going to go to the moon 🚀
What are your thoughts? A good time to stack junk silver ?
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It definitely impacts the price on the low end coins. The highly collectible ones are already far above bullion that it would take a lot for it to change.
Time to stack? That’s a personal decision. I have chosen to sell on the way up. I may even be able to finally unload some war nickels soon.
TurtleCat Gold Dollars
too much money required for reddit to corner the market
I wouldn't be so sure about that...
NLI
https://www.pcgs.com/setregistry/collectors-showcase/date-sets/hashtags-prefect-coin-grading-service-1879/album/7621
It’s all about the short squeeze though. even if Reddit pushes prices up a few dollars that will force billionaires to cover their shares making the price go 🚀
Are we going to see 1000/ounce silver in the coming weeks? 😂
The Hunt Bros were wrecked by government intervention.
Physical silver is not easy for government to have any effect. They could quit selling eagles but the silver would still get into the market.
my guess would be abso no - I can't see B&Ms buying what you wanna sell even if it was $100/oz short term, let alone hundreds of $/oz - mine wouldn't at least - I think they'd see it as a flare and maybe offer 50c on the dollar for spot at that point - if that
my B&M guy won't offer anything close to spot for palladium [understand we're now talking abt a completely different metal]; he sees it as too volatile to give anything close to spot
Are internet claims really worth anything? When fundamentals have been thrown out the window great caution is advisable.
reddit will need somewhere close to $750,000,000 to $1,000,000,000 just to buy the ASE from the mint.
I don't see reddit cornering the silver market
Haha we will see!
Watch the fun and games.... If silver gets to a good high, sell and take the profit....because it will come back down. Cheers, RickO
$ 1000.00 an Oz. ? I think somebody fell and hit their head. IMO, $ 100.00 an oz. is not sustainable.
More ounces of silver in the world than stock shares of all companies. Probably not, but it seems that way.
Based on your sig' line and your pump for the wannabe brokerage, it looks like you'll try. Good luck with that.
My son called the other day about this same situation. I told him stacking is one thing (he knows), but to be careful with his DCA's.
I stack real, and I play paper. I'm all for gains when I'm long, and drops when I'm short ... and the last seven months have been very good ..., but the volatility and requirements of an attempted short squeeze of the magnitude required is going to crush some people.
And I would suspect, if you try, the real pain coming won't be for the producers who have sold contracts, or the banks who hedge both ways and three times over on Sunday, or even the paper kings who push the futures market. I have a feeling the real pain will be for the unprepared who want to play with big money.
The markets can stay irrational longer than you can stay solvent. In fact, solvency will be key, and the market can turn hard, on anyone. Even five or six days, with leverage, will crush you. In that respect, this time is not different.
my 2c
“We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”
Todd - BHNC #242
HMMM!! Paper money or silver? What is your choice?
changed my mind after reading some more articles. Disregard this post.
At that price I would sell!! 🙂
Do I remember that silver usually traded at 16 to 1 (gold to silver)? If that could be done silver would top $115.
bob
I think the Reddit group is targeting silver next. According to WSJ
BST: KindaNewish (3/21/21), WQuarterFreddie (3/30/21), Meltdown (4/6/21), DBSTrader2 (5/5/21) AKA- unclemonkey on Blow Out
At some point, they are going to throw a few of these reddit bozos in jail. Conspiring to manipulate the price of securities isn't legal. And the pump and dump has been illegal forever.
I've sold about half of my silver in the past few months, so that means within the next year the price will at least double.
After I sell the second half, look out, it should go up 10x within a month. Lol
My Gold Type Set
I don’t think any dealers in their right mind would buy silver bullion at $100/ounce let alone $1k!
Young Numismatist/collector
75 Positive BST transactions buying and selling with 45 members and counting!
instagram.com/klnumismatics
I don't think you realize how many contracts get traded. Commodity contracts are a much bigger market than Gamestop.
It works both ways. You think you can force a billionaire to cover. What happens when the market forces you to cover? You don't have a billion bucks behind your position.
When the reddit folks are forced to sell their long positions into a dropping market, you will send silver through the floor not the roof.
More typically 35:1
But you can get there both ways. If gold drops to $1000, you are also at 35ish to one.
Do a little research. On Friday alone, 180,000 silver contracts traded. Each contract represents 5000 ounces of silver. That is 900 MILLION OUNCES of silver that traded on Friday alone.
You can buy a 5000 ounce contract, but if your billionaire frenemies push it down $1, you're going to have to cover the $5000 margin call. How many of those reddit boys will be able to hold that position when it is $5000 or more under water?
I don't think that would ever happen.. Everybody said silver was gonna go nuts after joe Biden got in and it hasn't done much... Wall st bets isnt gonna play with physical bullion
They wouldn't do it with physical silver. They would do it with options and futures contracts. But the volume of those is even greater.
This is true and people forget. What happened once can happen again.
If the Fed decides to put an end to the Reddit Insurrection, they can just sell a trillion dollars worth of silver contracts and watch the reddit folks scurry to cover their margin calls.
They could also do a version of what happened on Thursday. The only way to move silver is with paper silver not coins. Once the reddit folks pile into silver contracts (like the Hunts) the government just does what they did to the Hunts - prevent them from closing their contracts.
Contracts are heavily leveraged...and leverage kills when it turns against you.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I would. You can sell it with a phone call. You don't buy it at $100/ounce to put it in your case. You flip it up the ladder immediately. If silver were $1k, I'd still be buying it. But I would be locking in the sale 10 seconds after I bought it...if not 10 seconds before I bought it.
After the junk crypto dogecoin inflation they created, on top of Amc, game stop, etc, they truly could have enough to inflate silver if enough are on the same page about it.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Say silver goes up to even $100 an ounce...how long can that price be sustained and who is buying physical silver at that price?
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
The entire market cap of GME, even after they pushed it up 10x, is only $25 billion. The silver market is 100x bigger than that.
So tell me what happened to gold in the 30's?
The good old boys took it all back.
If silver goes to $1000.00 an ounce what would prevent them from doing the same again?
Just my thoughts.
and as if on cue posted on Facebook
United States Mint:
·
On this date 1/30/1934, the Gold Reserve Act (signed by President Franklin D. Roosevelt) withdraws gold coins from circulation, provides for the devaluation of the dollar’s gold content, and creates the Exchange Stabilization Fund. https://home.treasury.gov/.../exchange-stabilization-fund
>
Change the word Gold to Silver and modify date enacted or better yet add silver alongside the word gold.
Kennedys are my quest...
They dig and refine silver from rocks and dirt at about $12 per ounce..
It's bounced doen from 50 twice in my 53 years, once in 1979 and once in 2011.
I'll sell every ounce if it hits $48 , whistle on the way home, and never look back.
Liberty: Parent of Science & Industry
I think you are confusing two things. Pump and Dump is you tell all your friends a stock is WAY undervalued and get them to buy in and then you, individually, sell your shares and leave them all hanging.
The folks on reddit are just buying stock and making it all go higher. They aren't being secretive about any of it...
Just waiting for that final moment when my instinct tells me ... NOW.
You're drawing an awfully fine, possibly invisible line.
Read the Reddit. They are conspiring to buy the stock to create a short squeeze. A short squeeze, by its nature, pushes up the price of the stock. That is blatant price manipulation.
And a LOT of these Reddit players are going to be stuck holding the bag. As soon as they stop buying, there are NO buyers at $350 for a near bankrupt company. The price will crash and whoever hasn't cashed in already will be stuck with worthless shares.
Just because there is more than one pumper doesn't mean they aren't pumping. The early ones posted their portfolio increase which got more and more people in. They were up to 2 million reddit members at one point last week.
That is a classic pump and dump. We're currently in the pump, but the dump is coming. Last one holding GME shares loses. At some point, there will be a race for the exits.
Is it any better for a billionaire to tell the world they are shorting a stock??
Morally? Probably not. There is a very fuzzy line between sharing information and price manipulation. A lot of it depends on intent which is hard to assess.
But I don't think this is even close. This isn't a bunch of Gamestop lovers buying positions for the long term. They intentionally declared war on the institutional shorts. They don't care about the company. They didn't make the decision based on the strength of the company (unlike your billionaire who sensed weakness). They made the decision to intentionally create a short squeeze to manipulate the price to profit from that price manipulation.
It's kind of funny and amusing - since I'm not short GME. But after I stopped laughing, I started to realize how dangerous this behavior is and why it is criminal in the first place.
They could easily (temporarily) crash any small to mid-cap stock. And if they wanted to throw more money in, they could probably tank Apple and Microsoft also. That's why Warren Buffet called derivatives "financial weapons of mass destruction". You don't need a lot of money to trade options or futures which have built-in leverage. In this case, they were using cheap, way out of the money calls to push the price.
In the context of financial markets, the silver market is puny. It wouldn't be hard to do this by buying up physical; buy futures contracts and then take physical delivery.
Not directed to your post, but the reason most traders deal in paper silver (such as SLV and futures) is because they don't want to own the physical metal; mostly meal bugs and coin collectors generally do. Everyone else is speculating on price changes and the object of the speculation is of no relevance to them. For every long futures there has to be an offsetting short position, nothing unusual about it.
Last one holding GME shares loses. At some point, there will be a race for the exits.
This
These people may be having fun now but the overwhelming majority are going to be bag holders. There will be no widespread victory for the little guy. Maybe some of them don't care but to believe most won't later is contrary to common sense. Once the price crashes and they are left as bag holders, any "victory" will be meaningless
This is why any attempt to artificially inflate the price will fail.
Not sure about that. Most silver isn't sitting around in coin and bar form waiting to be bought like gold. More will be available at higher prices but to my knowledge, it's a very low fraction of $2.5 trillion. It's been several years but the last time I checked, the annual production allocated to "investor" products is worth less than $10B at current prices.
Either that or gold is way overpriced and should be about $410.
Which billionaires are heavily short silver? And why? Same with garbage crypto like dogecoin. Do these guys not understand why buying GME actually worked? 1. Almost 100% of the float was short, 2. the stock was relatively illiquid, and 3. nobody was paying attention.
None of that is true now.
I'm not talking about physical silver. I'm talking about paper silver. They're are trillions of ounces in contracts
According to Ted Butler there are several large banks massively short on silver. There are more shorts than there is silver.
Prices have been moving up partly on inflation fears but largely because there just isn't enough physical metal to cover all the demand from industry and from investors. The shorts are already in trouble and a buying panic will ensue if these shorts try to cover before they have even more massive losses.