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?
A couple of them held GME with 50k losses during the drop after RH screwed the market up
@jessewvu said:
Is Reddit going to take down the world economy?
No! Some times it feels like the tail wagging the dog but this is a mangy old mutt that's in trouble which is why Gamestop (et al) exists at all. The bond market is a great big bubble with no interest rates and a debt that's piling up faster than the FED can print money. All that's been needed since 1979 is for money velocity to increase and the trillions will start looking like quadrillions and bonds won't seem as good a deal.
Events unfold to reflect actions which reflect beliefs. The beliefs that gold and commodities are worthless, actions are irrelevant, and we can print our way to prosperity as the future is destroyed for profit have very predictable outcomes.
Don't be surprised to see anything on Monday, even a big drop in silver. The financial system is scripted and the authors don't want any perception that it might be based on anything but terra firma. It will be an interesting week no matter what happens Monday and no matter if the bit players get into silver or not. People are finally looking at the right things.
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 is the play they are recommending. From what I am reading they are recommending 50% long SLV and 50% long call options on SLV. If the price is pushed down $1 neither of those positions will have a margin call but just have to sit and wait. The call options do not require margin and the maximum loss is the premium X 100 per contract. For the call option they are recommending on zero hedge, that is only about $119 per contract. They are not recommending trading the futures contracts from what I can see.
the reddits may drive up SLV until the SLV shorters bring them back down to earth, but unless they buy futures contracts they will not drive up the spot price. Spot price drives SLV price, it is not the other way around. Yes there will be some knee jerk reaction that will temporarily drive up spot, but it will be temporary. Already seeing premium increases from the bullion dealers. Probably be a good time this week to sell off some silver.
Repetition of ignorance is ignorance raised to the power two.
@derryb said:
the reddits may drive up SLV until the SLV shorters bring them back down to earth, but unless they buy futures contracts they will not drive up the spot price. Spot price drives SLV price, it is not the other way around. Yes there will be some knee jerk reaction that will temporarily drive up spot, but it will be temporary. Already seeing premium increases from the bullion dealers. Probably be a good time this week to sell off some silver.
SLV is an exchange traded fund backed by physical silver. When enough shares are bought (opened), more actual silver is bought. It does not matter how many futures contracts trade or what percentage of world silver this is. In theory it should work if enough money enters SLV.
The possible bump on the plan is the custodian of the physical silver for the ETF is JP Morgan. JP Morgan is a large short seller of silver and has been for years.
@johnny9434 said:
I can see 40 or 50 an ounce but not 1000. If we do see that I hope I'm not here to see it. Jmo
If silver ever hits $1000 per ounce it will be because we have just experienced a period of hyper inflation. The prices of everything else will also have increased dramatically.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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 is the play they are recommending. From what I am reading they are recommending 50% long SLV and 50% long call options on SLV. If the price is pushed down $1 neither of those positions will have a margin call but just have to sit and wait. The call options do not require margin and the maximum loss is the premium X 100 per contract. For the call option they are recommending on zero hedge, that is only about $119 per contract. They are not recommending trading the futures contracts from what I can see.
No, they aren't. But that's the only way you're going to move the silver market. An SLV option is only 100 shares (ounces) Total float is 650 million shares (ounces). The futures contract traded 900 million ounces on Friday alone. The spot price of silver is determined by the futures trading not the SLV ETF.
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?
A couple of them held GME with 50k losses during the drop after RH screwed the market up
I'm sure. Although were those real losses or daily declines? Most of the reddit players are playing with relatively small amounts of money. I have a student playing with $500 on GME.
Everyone is jumping on Robinhood because that is the favorite trading platform of the Reddit Insurrectionists. But what Robinhood did isn't that unusual. If you remember when oil went negative last Spring, the same thing had happened to oil. Because of the ridiculous volatility as the contracts were expiring, all new contract purchasing was suspended and you could only close positions.
@derryb said:
the reddits may drive up SLV until the SLV shorters bring them back down to earth, but unless they buy futures contracts they will not drive up the spot price. Spot price drives SLV price, it is not the other way around. Yes there will be some knee jerk reaction that will temporarily drive up spot, but it will be temporary. Already seeing premium increases from the bullion dealers. Probably be a good time this week to sell off some silver.
SLV is an exchange traded fund backed by physical silver. When enough shares are bought (opened), more actual silver is bought. It does not matter how many futures contracts trade or what percentage of world silver this is. In theory it should work if enough money enters SLV.
The possible bump on the plan is the custodian of the physical silver for the ETF is JP Morgan. JP Morgan is a large short seller of silver and has been for years.
I always hear about the banks being short sellers. If so, they should have been crippled in the last year when silver doubled. But they weren't.
Are banks actually net shorts or do they just buy short contracts to hedge their long positions?
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 is the play they are recommending. From what I am reading they are recommending 50% long SLV and 50% long call options on SLV. If the price is pushed down $1 neither of those positions will have a margin call but just have to sit and wait. The call options do not require margin and the maximum loss is the premium X 100 per contract. For the call option they are recommending on zero hedge, that is only about $119 per contract. They are not recommending trading the futures contracts from what I can see.
No, they aren't. But that's the only way you're going to move the silver market. An SLV option is only 100 shares (ounces) Total float is 650 million shares (ounces). The futures contract traded 900 million ounces on Friday alone. The spot price of silver is determined by the futures trading not the SLV ETF.
You aren't going to move SLV by buying a few actual shares. The daily volume of SLV is 33 million shares which over $800 million in SLV shares. Those reddit folks don't have enough money to move the market by buying actual ounces of silver.
The long call options also won't force SLV to buy more silver, those are only options to buy the ETF.
The only way to move the market with small amounts of money is to start buying futures contracts. You can buy a 5000 ounce contract with only a few thousand dollars. It's cheap to pile up the futures contracts as long as the price doesn't move against you and require you to meet the maintenance call. As I mentioned above, Fridays volume on futures was 900 million ounces which is roughly 50% more than the entire holding of SLV.
@fathom said:
I would not underestimate the Reddit swarms.
A long game? "Caution is advisable" is the understatement of the year.
I concur. If the momentum starts there will be millions of non-Reddit folks and institutions joining in. Multiple billions could flow into any particular play in a very short amount of time. That’s a landslide I don’t want to be in front of.
There’s no doubt that GME will end up under 20. No chance that I short it as it may hit 1000 before it hits 20, and the put/call options are insanely expensive at the moment.
I am NOT knowledgable enough to contribute on the main topic. That said, I noticed the following this morning ...
@APMEX - "Due to unprecedented demand on physical silver products, we are unable to accept any additional orders on a large number of products, until global markets open Sunday evening."
@SDBullion - "Due to unprecedented silver demand, SD Bullion is unable to accept any additional orders until the market opens Sunday evening."
Do not know whether it is related to the thread topic, but I thought that it was out if the ordinary, at least in my experience.
Edited to add: another thread about this topic already exists here.
SLV is an exchange traded fund backed by physical silver. When enough shares are bought (opened), more actual silver is bought. It does not matter how many futures contracts trade or what percentage of world silver this is. In theory it should work if enough money enters SLV.
Increased demand results in higher prices, not more new shares. If new shares were used to satisfy new demand, prices would stay the same.
SLV does not hold physical silver. The silver backing it is held by the etf's custodian, JPM. SLV holders have claim only to the assets of the etf, not those of the custodian. This structure for SLV was intentional. It provides belief of physical backing without actually risking the physical.
Repetition of ignorance is ignorance raised to the power two.
I sold out of all my raw silver bullion coins during the run up making about 50 pct or more profit. Some slabbed silver bullion coins too. These have done well at shows before covid too just do them cost plus.
Been buying some nice slabbed silver bullion coins (make my case look nice at shows) but not a seller unless make cost plus my markup. When your bullion based material not selling don’t give it away at some manipulated ripoff market price just sit on it. The ones that do sell during those times at cost plus I replace it at cheaper level and rolling over w laughter.
@MetroD said:
I am NOT knowledgable enough to contribute on the main topic. That said, I noticed the following this morning ...
@APMEX - "Due to unprecedented demand on physical silver products, we are unable to accept any additional orders on a large number of products, until global markets open Sunday evening."
@SDBullion - "Due to unprecedented silver demand, SD Bullion is unable to accept any additional orders until the market opens Sunday evening."
Do not know whether it is related to the thread topic, but I thought that it was out if the ordinary, at least in my experience.
This has been something of an issue for most of the last year. Mint facilities had lower production due to Covid factors. There has also been larger volume due to fear, another Covid factor.
I doubt very much that any Reddit activity will involve actual physical silver. They will be trading the ETF and options not buying silver eagles.
SLV does not hold physical silver. The silver backing it is held by the etf's custodian, JPM. SLV holders have claim only to the assets of the etf, not those of the custodian. This structure for SLV was intentional. It provides belief of physical backing without actually risking the physical.
A few people have controlled the silver market for so long it just feels natural to most traders.
These guys have already been losing their grip on it though. And they are losing their grip during a time of physical shortage which will affect the psychology of the markets.
To say it another way silver has always been volatile and throwing gasoline and oxygen on it will not change this. Doing so when the fixers are already nervous and ready to jump out of the frying pan could have a large effect. The fixers have always been the tail wagging the silver dog and now they have the dog's attention.
"Too much demand for actual bars could destroy the paper markets."
Your link doesn't work.
Losses in one part of the portfolio may be offset by gains in another. As I say, people (zerohedge and other conspiratorial types) have been saying for years if not decades that banks are manipulating the price of silver with short positions but that argument is suspect:
Why would banks be short silver for multiple years?
What is the advantage to banks to suppress silver and gold prices?
JP Morgan ad Deutsche Bank, among others hold massive amounts of physical silver.
I think the tin foil hat types are cherry-picking data to try to make a case that isn't eally true. JP Morgan as a holder of millions of ounces of silver would naturally hold derivatives to hedge losses in a down market. Commodity producers do a similar thing. It is quite natural for a single entity to be among the biggest longs and biggest shorts at the same time.> @jessewvu said:
Is Reddit going to take down the world economy?
They seem to want to try. The posts on the reddit are a little scary. There's one this morning bragging that "we" destroyed $3.7 trillion in market cap "equivalent to the GDP of Germany". No one has even bothered to ask why that is a good thing.
Why would banks be short silver for multiple years?
What is the advantage to banks to suppress silver and gold prices?
JP Morgan ad Deutsche Bank, among others hold massive amounts of physical silver.
1.,+2.,= It's the status quo. Banks have a lot of money and constantly get a lot more. They certainly don't want the value of all that free money being eroded away by the perception that it must not be worth much since commodities are high and there's no interest on capital.
3.,= JP Morgan is the exception and only very recently acquired its holdings. While other banks make a fortune holding the price down you can see what direction they are headed in right now. JP Morgan's silver might well be fully hedged anyway though I doubt it.
Losses in one part of the portfolio may be offset by gains in another. As I say, people (zerohedge and other conspiratorial types) have been saying for years if not decades that banks are manipulating the price of silver with short positions but that argument is suspect:
Why would banks be short silver for multiple years?
To keep a ceiling on price in order to build a massive physical position on the cheap as JPM has done.
What is the advantage to banks to suppress silver and gold prices?
To build a massive physical position and, since it is known that the price of precious metals is a direct reflection of the faith in central banks, it is very likely select bullion banks (I nominate JPM) are doing the bidding of their master to bolster faith in the FED with a promise that in the future these bullion banks can remove the restraints on price. With no artificial ceiling on price (via COMEX) guess who profits the most.
JP Morgan ad Deutsche Bank, among others hold massive amounts of physical silver.
That sure puts them in the drivers seat when price discovery eventually returns to the fundamentals. What do the fundamentals currently say about the price of precious metals?
Repetition of ignorance is ignorance raised to the power two.
Can't predict what will happen... but looks like there has been some activity in physical silver taking place. Perhaps trying to load up in anticipation of spiking prices.
@johnny9434 said:
I can see 40 or 50 an ounce but not 1000. If we do see that I hope I'm not here to see it. Jmo
If silver ever hits $1000 per ounce it will be because we have just experienced a period of hyper inflation. The prices of everything else will also have increased dramatically.
Uncertainty usually brings a rise in price to precious metals. I think it may go up, but the ceiling is lower than you think. $1000 per once at this time is hopeful thinking. But then again, I remember when gold was locked by the government at $35.00 per ounce. So, $1000 per ounce silver is not impossible, but highly improbable.
Checked JMbullion and Apmex could not find any 1 oz for less than 40$ an ounce that was available. Found some kangaroos on eBay for 35$ an ounce and some rounds for about 33. Didn’t buy them.
@WQuarterFreddie said:
What the Reddit team could do is create a short squeeze on some of the Silver miners.....take a look at First Majestic (AG) and Hecla (HL).
These 2 are very heavily shorted....
You are correct that First Majestic is heavily shorted. Hecla is not heavily shorted. Hecla's short interest is less than 3%
@WQuarterFreddie said:
What the Reddit team could do is create a short squeeze on some of the Silver miners.....take a look at First Majestic (AG) and Hecla (HL).
These 2 are very heavily shorted....
You are correct that First Majestic is heavily shorted. Hecla is not heavily shorted. Hecla's short interest is less than 3%
The world can use a lot more silver and gold for industrial applications....
all world vaults do not have enough to cover the need!
the time of Silver teapots is long gone and these are made into clectronic contacts.. 1.e cell phones...
@WQuarterFreddie said:
What the Reddit team could do is create a short squeeze on some of the Silver miners.....take a look at First Majestic (AG) and Hecla (HL).
These 2 are very heavily shorted....
You are correct that First Majestic is heavily shorted. Hecla is not heavily shorted. Hecla's short interest is less than 3%
😉 But they are the largest USA Silver producer😎
In the 1980's you had a couple of billionaires (Hunt brothers) trying to drive the price higher.
In 2010/2011 you had the tinfoil hat crowd pushing the price higher after the financial crisis.
This time you may be looking at a larger group of hedge funds, tinfoil hat crowd and the general public getting in the next big trade.
Link to inflation adjusted silver price for the last 100 years.
It's hard to say who will have the guts to step in front of that train, especially in the first few days.
Futures tonight will give you a first clue if this is a big deal or not. Downside risk is probably $20 to $25 if they can suppress and control the market via futures. Upside potential is the big unknown at this point.
I didn't know about this site previously. But came across it today.
Futures on the SLV ETF are trading currently between $29 and $30.
The SLV ETF closed @ around $25 on Friday.
From a collecting perspective, if silver hit $300 what percent of Morgan and Peace dollars get melted? I’d have to imagine at that level 99% of them would carry zero numismatic premium.
@10000lakes said:
I didn't know about this site previously. But came across it today.
Futures on the SLV ETF are trading currently between $29 and $30.
The SLV ETF closed @ around $25 on Friday.
Forward contracts always trade above the current price. There is a time premium built in. You are looking at a March option. The March option at the money had a $2.40 premium at the close. It still appears to be trading up from the $27.50 close, but I'm not sure what that site even is as global markets are largely closed until Asia opens at 6 p.m. EST tonight.
@nags said:
From a collecting perspective, if silver hit $300 what percent of Morgan and Peace dollars get melted? I’d have to imagine at that level 99% of them would carry zero numismatic premium.
Widgets would have zero numismatic premium certainly. Melting is a different story, however. They don't automatically hit the pot even if they are sold as bullion. For a 0.900 coin, you have to refine it up to 0.925 or 0.999 for most application. A lot of it gets sold for stacking, as is.
@10000lakes said:
I didn't know about this site previously. But came across it today.
Futures on the SLV ETF are trading currently between $29 and $30.
The SLV ETF closed @ around $25 on Friday.
Forward contracts always trade above the current price. There is a time premium built in. You are looking at a March option. The March option at the money had a $2.40 premium at the close. It still appears to be trading up from the $27.50 close, but I'm not sure what that site even is as global markets are largely closed until Asia opens at 6 p.m. EST tonight.
The link I posted is for the SLV ETF, not the actual price of silver.
SLV ETF closed at around $25 on Friday.
The chart confirms that, if you look back at the price at 4:00 pm on Friday, it was around $25.
It does not appear to have a premium or discount, other than when the stock market is closed.
So yeah, no guarantee that the market will open at that price.
It's just what people are betting on an off exchange product.
SLV ETF trades at about a 8% discount to the price of one oz of silver.
So they are betting silver will open around $32.40 per oz, based on this thing trading @ $30
We will soon find out, when the major metals markets open tonight and all the players are active setting the true price.
Comments
Is Reddit going to take down the world economy?
A couple of them held GME with 50k losses during the drop after RH screwed the market up
No! Some times it feels like the tail wagging the dog but this is a mangy old mutt that's in trouble which is why Gamestop (et al) exists at all. The bond market is a great big bubble with no interest rates and a debt that's piling up faster than the FED can print money. All that's been needed since 1979 is for money velocity to increase and the trillions will start looking like quadrillions and bonds won't seem as good a deal.
Events unfold to reflect actions which reflect beliefs. The beliefs that gold and commodities are worthless, actions are irrelevant, and we can print our way to prosperity as the future is destroyed for profit have very predictable outcomes.
Don't be surprised to see anything on Monday, even a big drop in silver. The financial system is scripted and the authors don't want any perception that it might be based on anything but terra firma. It will be an interesting week no matter what happens Monday and no matter if the bit players get into silver or not. People are finally looking at the right things.
I don't think that is the play they are recommending. From what I am reading they are recommending 50% long SLV and 50% long call options on SLV. If the price is pushed down $1 neither of those positions will have a margin call but just have to sit and wait. The call options do not require margin and the maximum loss is the premium X 100 per contract. For the call option they are recommending on zero hedge, that is only about $119 per contract. They are not recommending trading the futures contracts from what I can see.
the reddits may drive up SLV until the SLV shorters bring them back down to earth, but unless they buy futures contracts they will not drive up the spot price. Spot price drives SLV price, it is not the other way around. Yes there will be some knee jerk reaction that will temporarily drive up spot, but it will be temporary. Already seeing premium increases from the bullion dealers. Probably be a good time this week to sell off some silver.
Repetition of ignorance is ignorance raised to the power two.
SLV is an exchange traded fund backed by physical silver. When enough shares are bought (opened), more actual silver is bought. It does not matter how many futures contracts trade or what percentage of world silver this is. In theory it should work if enough money enters SLV.
The possible bump on the plan is the custodian of the physical silver for the ETF is JP Morgan. JP Morgan is a large short seller of silver and has been for years.
I can see 40 or 50 an ounce but not 1000. If we do see that I hope I'm not here to see it. Jmo
If silver ever hits $1000 per ounce it will be because we have just experienced a period of hyper inflation. The prices of everything else will also have increased dramatically.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Not worried about silver, it's abundant gutter metal. Hopefully they can pump up my doggiecoins. RGDS!
The whole worlds off its rocker, buy Goldâ„¢.
BOOMIN!â„¢
Gasoline prices are on the move too, $2.60 a gallon for 87, down the street from me, they usually are the best prices around.
No, they aren't. But that's the only way you're going to move the silver market. An SLV option is only 100 shares (ounces) Total float is 650 million shares (ounces). The futures contract traded 900 million ounces on Friday alone. The spot price of silver is determined by the futures trading not the SLV ETF.
I'm sure. Although were those real losses or daily declines? Most of the reddit players are playing with relatively small amounts of money. I have a student playing with $500 on GME.
Everyone is jumping on Robinhood because that is the favorite trading platform of the Reddit Insurrectionists. But what Robinhood did isn't that unusual. If you remember when oil went negative last Spring, the same thing had happened to oil. Because of the ridiculous volatility as the contracts were expiring, all new contract purchasing was suspended and you could only close positions.
I always hear about the banks being short sellers. If so, they should have been crippled in the last year when silver doubled. But they weren't.
Are banks actually net shorts or do they just buy short contracts to hedge their long positions?
You aren't going to move SLV by buying a few actual shares. The daily volume of SLV is 33 million shares which over $800 million in SLV shares. Those reddit folks don't have enough money to move the market by buying actual ounces of silver.
The long call options also won't force SLV to buy more silver, those are only options to buy the ETF.
The only way to move the market with small amounts of money is to start buying futures contracts. You can buy a 5000 ounce contract with only a few thousand dollars. It's cheap to pile up the futures contracts as long as the price doesn't move against you and require you to meet the maintenance call. As I mentioned above, Fridays volume on futures was 900 million ounces which is roughly 50% more than the entire holding of SLV.
I would not underestimate the Reddit swarms.
A long game? "Caution is advisable" is the understatement of the year.
I concur. If the momentum starts there will be millions of non-Reddit folks and institutions joining in. Multiple billions could flow into any particular play in a very short amount of time. That’s a landslide I don’t want to be in front of.
There’s no doubt that GME will end up under 20. No chance that I short it as it may hit 1000 before it hits 20, and the put/call options are insanely expensive at the moment.
I am NOT knowledgable enough to contribute on the main topic. That said, I noticed the following this morning ...
@APMEX - "Due to unprecedented demand on physical silver products, we are unable to accept any additional orders on a large number of products, until global markets open Sunday evening."
@SDBullion - "Due to unprecedented silver demand, SD Bullion is unable to accept any additional orders until the market opens Sunday evening."
Do not know whether it is related to the thread topic, but I thought that it was out if the ordinary, at least in my experience.
Edited to add: another thread about this topic already exists here.
They did take massive losses in 2020
"Too much demand for actual bars could destroy the paper markets."
Repetition of ignorance is ignorance raised to the power two.
Increased demand results in higher prices, not more new shares. If new shares were used to satisfy new demand, prices would stay the same.
SLV does not hold physical silver. The silver backing it is held by the etf's custodian, JPM. SLV holders have claim only to the assets of the etf, not those of the custodian. This structure for SLV was intentional. It provides belief of physical backing without actually risking the physical.
Repetition of ignorance is ignorance raised to the power two.
I don’t know I suspect they manipulating it.
I sold out of all my raw silver bullion coins during the run up making about 50 pct or more profit. Some slabbed silver bullion coins too. These have done well at shows before covid too just do them cost plus.
Been buying some nice slabbed silver bullion coins (make my case look nice at shows) but not a seller unless make cost plus my markup. When your bullion based material not selling don’t give it away at some manipulated ripoff market price just sit on it. The ones that do sell during those times at cost plus I replace it at cheaper level and rolling over w laughter.
This has been something of an issue for most of the last year. Mint facilities had lower production due to Covid factors. There has also been larger volume due to fear, another Covid factor.
I doubt very much that any Reddit activity will involve actual physical silver. They will be trading the ETF and options not buying silver eagles.
A few people have controlled the silver market for so long it just feels natural to most traders.
These guys have already been losing their grip on it though. And they are losing their grip during a time of physical shortage which will affect the psychology of the markets.
To say it another way silver has always been volatile and throwing gasoline and oxygen on it will not change this. Doing so when the fixers are already nervous and ready to jump out of the frying pan could have a large effect. The fixers have always been the tail wagging the silver dog and now they have the dog's attention.
Your link doesn't work.
Losses in one part of the portfolio may be offset by gains in another. As I say, people (zerohedge and other conspiratorial types) have been saying for years if not decades that banks are manipulating the price of silver with short positions but that argument is suspect:
https://www.jmbullion.com/investing-guide/pricing-payments/who-owns-most-silver-bullion-today/
I think the tin foil hat types are cherry-picking data to try to make a case that isn't eally true. JP Morgan as a holder of millions of ounces of silver would naturally hold derivatives to hedge losses in a down market. Commodity producers do a similar thing. It is quite natural for a single entity to be among the biggest longs and biggest shorts at the same time.> @jessewvu said:
They seem to want to try. The posts on the reddit are a little scary. There's one this morning bragging that "we" destroyed $3.7 trillion in market cap "equivalent to the GDP of Germany". No one has even bothered to ask why that is a good thing.
The talk alone of reddit activity is driving physical prices higher and causing available silver to disappear.
Repetition of ignorance is ignorance raised to the power two.
1.,+2.,= It's the status quo. Banks have a lot of money and constantly get a lot more. They certainly don't want the value of all that free money being eroded away by the perception that it must not be worth much since commodities are high and there's no interest on capital.
3.,= JP Morgan is the exception and only very recently acquired its holdings. While other banks make a fortune holding the price down you can see what direction they are headed in right now. JP Morgan's silver might well be fully hedged anyway though I doubt it.
Try this one.
To keep a ceiling on price in order to build a massive physical position on the cheap as JPM has done.
To build a massive physical position and, since it is known that the price of precious metals is a direct reflection of the faith in central banks, it is very likely select bullion banks (I nominate JPM) are doing the bidding of their master to bolster faith in the FED with a promise that in the future these bullion banks can remove the restraints on price. With no artificial ceiling on price (via COMEX) guess who profits the most.
That sure puts them in the drivers seat when price discovery eventually returns to the fundamentals. What do the fundamentals currently say about the price of precious metals?
Repetition of ignorance is ignorance raised to the power two.
"Everyone Is Afraid Ahead Of The Open" - Reddit-Raiders Spark Nationwide Physical Silver Shortage
https://zerohedge.com/markets/reddit-preparing-unleash-worlds-biggest-short-squeeze-silver
Can't predict what will happen... but looks like there has been some activity in physical silver taking place. Perhaps trying to load up in anticipation of spiking prices.
Agreed with
Gasoline prices are on the move too, $2.60 a gallon for 87, down the street from me, they usually are the best prices around.
You need to move to a different state. $1.96 this morning where I am in South Carolina.
Member ANA, SPMC, SCNA, FUN, CONECA
APMEX stopped taking orders on almost all their mainstream bullion products.
Depends on how high the roof is off the floor.
Uncertainty usually brings a rise in price to precious metals. I think it may go up, but the ceiling is lower than you think. $1000 per once at this time is hopeful thinking. But then again, I remember when gold was locked by the government at $35.00 per ounce. So, $1000 per ounce silver is not impossible, but highly improbable.
What the Reddit team could do is create a short squeeze on some of the Silver miners.....take a look at First Majestic (AG) and Hecla (HL).
These 2 are very heavily shorted....
First Majestic is eerily similar to Gamestop (GME) 3 weeks ago when this first started with price of stock and number of shares shorted.😉
Disclaimer......This is just my opinion and not buying or selling advice. Do your own due diligence!
Most silver dealers stopped selling this weekend. They are trying to push prices up too but limited supply
Checked JMbullion and Apmex could not find any 1 oz for less than 40$ an ounce that was available. Found some kangaroos on eBay for 35$ an ounce and some rounds for about 33. Didn’t buy them.
i picked up some stuff recently from APMEX that hasn't been shipped yet. Now the real question is, WILL THEY SHIP now?
Or NAK for that matter
all I know is that when our economy is based on Investment and Finance instead of Labor and some sort of Manufacturing we are in trouble.
The world can use a lot more silver and gold for industrial applications....
all world vaults do not have enough to cover the need!
the time of Silver teapots is long gone and these are made into clectronic contacts.. 1.e cell phones...
😉 But they are the largest USA Silver producer😎
In the 1980's you had a couple of billionaires (Hunt brothers) trying to drive the price higher.
In 2010/2011 you had the tinfoil hat crowd pushing the price higher after the financial crisis.
This time you may be looking at a larger group of hedge funds, tinfoil hat crowd and the general public getting in the next big trade.
Link to inflation adjusted silver price for the last 100 years.
https://www.macrotrends.net/1470/historical-silver-prices-100-year-chart
It's hard to say who will have the guts to step in front of that train, especially in the first few days.
Futures tonight will give you a first clue if this is a big deal or not. Downside risk is probably $20 to $25 if they can suppress and control the market via futures. Upside potential is the big unknown at this point.
Plan your exit accordingly.
I didn't know about this site previously. But came across it today.
Futures on the SLV ETF are trading currently between $29 and $30.
The SLV ETF closed @ around $25 on Friday.
https://ftx.com/trade/SLV-0326
There doesn't seem to be any activity in GLD ETF at the same site.
https://ftx.com/trade/GLD-0326
Well if 2020 was the year from
maybe 2021 will be the year from 
for the silver stackers!
From a collecting perspective, if silver hit $300 what percent of Morgan and Peace dollars get melted? I’d have to imagine at that level 99% of them would carry zero numismatic premium.
Raw ASEs are selling in the 37-40 range right now on eBay. > @2ndCharter said:
West Virginia with Kroger points!
Forward contracts always trade above the current price. There is a time premium built in. You are looking at a March option. The March option at the money had a $2.40 premium at the close. It still appears to be trading up from the $27.50 close, but I'm not sure what that site even is as global markets are largely closed until Asia opens at 6 p.m. EST tonight.
Widgets would have zero numismatic premium certainly. Melting is a different story, however. They don't automatically hit the pot even if they are sold as bullion. For a 0.900 coin, you have to refine it up to 0.925 or 0.999 for most application. A lot of it gets sold for stacking, as is.
The link I posted is for the SLV ETF, not the actual price of silver.
SLV ETF closed at around $25 on Friday.
The chart confirms that, if you look back at the price at 4:00 pm on Friday, it was around $25.
It does not appear to have a premium or discount, other than when the stock market is closed.
So yeah, no guarantee that the market will open at that price.
It's just what people are betting on an off exchange product.
SLV ETF trades at about a 8% discount to the price of one oz of silver.
So they are betting silver will open around $32.40 per oz, based on this thing trading @ $30
We will soon find out, when the major metals markets open tonight and all the players are active setting the true price.