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Anybody following wallstreetsilver on Reddit? Allocated silver not being delivered

DrBusterDrBuster Posts: 5,299 ✭✭✭✭✭

Some folks over there are asking for delivery of their stored/allocated silver and being told they can't deliver.

If you don't hold it....

Perth
https://reddit.com/r/Wallstreetsilver/comments/mc6vqm/perth_mint_default_now_there_are_anecdotal/

Bullion Bank Australia
https://reddit.com/r/Wallstreetsilver/comments/mc1gmc/bullion_bank_in_australia_not_delivering_on/

Comments

  • derrybderryb Posts: 36,010 ✭✭✭✭✭
    edited March 24, 2021 8:12AM

    Are we making COMEX progress? Is a run on the bullion banks in the cards?

    YESSSS!

    "if you personally hold metal in an unallocated account, get it out NOW. The last thing you want is to be at the back of the line with all of the other fools caught flat-footed and left wanting."

    From Feb 2 - "Groundhog Day for Silver Investors."

    "This change is likely to materialize out of a physical delivery default. This won't emanate from New York, and it likely won't begin in London either. Instead, look for delivery defaults to begin in the unallocated accounts that are run out of Perth, Montreal, and Zurich."

    High premiums are the physical market's way of telling you to buy now. Remember, those who set spot price will be the last to throw in their cards. Don't wait for their signal, it will likely be too late.

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • DrBusterDrBuster Posts: 5,299 ✭✭✭✭✭

    I've been following all this since last month over on the reddit...the metal porn there is epic.

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • HigashiyamaHigashiyama Posts: 2,124 ✭✭✭✭✭

    This might be big news if it were true.

    Higashiyama
  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    @Higashiyama said:
    This might be big news if it were true.

    time will tell. Buy the rumor. lol

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • AzurescensAzurescens Posts: 2,665 ✭✭✭✭✭

    I made a post about this on the 20th. Mints around the world are sold out of metals.

    I've never seen a collective group of people - who, arguably, are intelligent and well to do - so readily accept propaganda. I've seen them convince each other reality is fake (when the Turkish bank runs started last year). It's eaten right up! I've posted demonstrable proof of things and seen these people convince each other it's not real.

    If these people aren't shills, then they're disgustingly misinformed trolls, and loud, and it really is just as bad as the real deal.

    I don't know why PCGS allows trolls who post obviously fake positions, links to manufactured websites, and propaganda.

    I had really expected better. Especially with what I spend every year on my submissions.

    I get that it's their business and they're free to do whatever, but at this point, this subforum should probably be excluded from Google search results for misinformation.

    I've included some info on the bank runs. There's also a guide to critical thinking that a whole slew of people here need. There is an image (click to expand) on Logical Fallacies, which is a significant bulk portion of what you'll find here.

  • AzurescensAzurescens Posts: 2,665 ✭✭✭✭✭

    This is the kinda koolaid you'll find around here.

    I know first hand accounts, social media posts, and news outlets mean nothing to these people. But here we go:

    Bank of Mexico:

    Poland:

    Search result summary. Compare this to what countries and markets people talk about here.

    The "retail is insignificant" FUD trolling is very strong here.

  • blitzdudeblitzdude Posts: 5,268 ✭✭✭✭✭

    @Higashiyama said:
    This might be big news if it were true.

    Exactly, doubt any of the kids on Reddit could even afford to take delivery of a single silver contract. No squeeze or failed deliveries just lower gutter prices. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Seems to be quite the tempest going on.... I wonder if any participants actually understand the metals market. Or have valid information. I checked my stacks... still there... ;) Cheers, RickO

  • derrybderryb Posts: 36,010 ✭✭✭✭✭

    "Do you hear alarm bells ringing? Neither do I. And that’s a huge problem." - Simon Black

  • blitzdudeblitzdude Posts: 5,268 ✭✭✭✭✭

    Too bad the Comex can settle any and all contracts in CASH. Yawn, when was it again that the Comex was to implode?

    The whole worlds off its rocker, buy Gold™.

  • jmski52jmski52 Posts: 22,263 ✭✭✭✭✭

    The only way Comex gets outed is when enough large players stand for delivery.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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