I believe the squeeze promotion that began on Reddit is somewhat responsible for the jump in the silver demand curve and is thus equally responsible for currently higher premiums. Rising premiums will eventually drive more COMEX longs to take delivery. The resulting eventual "run" on the COMEX vaults that have nowhere near the silver that COMEX promises the longs is what will break the COMEX and it's grip on bullion prices. Once this fractional bullion banking is fully exposed and bankrupted, the real market will send silver to the moon.
Rising premiums are a good thing for everyone except current buyers and of course, the COMEX and LBMA. I welcome them and am gladly paying them.
says it is like a plan fit for occupy wall streeters
then there is the comment. if one believes in disinformation then could this be disinformation for bullish silver?
if there are trillions at stake why aren't hedge funds (they are not banks) creating a short squeeze and getting trillionaire rich?
during the housing crisis one entity took bets against the housing instruments and made billions for themselves. seems like easy money here if it were true. (but it isn't)
@mynamespat said:
Reddit's collective buying power isn't even a blip on the radar compared to the likes of Berkshire Hathaway, the Saudi royal family, et al.
@Higashiyama said:
"EIght of them are short silver and they would have to pay trillions to cover shorts if silver got to triple digits"
That is an amusing statement for a lot of reasons.
Lot of truth in the statement. It is no secret that the most concentrated metal shorts are in the hands of the "Big Eight." who trade heavily (always at a profit) among each other on the COMEX and LMBA:
Bank of Nova Scotia (BNS) who announced in 2020 its plans to exit metals trading.
UBS Switzerland AG.
Citibank.
JPMorgan Chase & Co.
Morgan Stanley.
Royal Bank of Canada (RBC)
Merrill Lynch.
Goldman Sachs.
Anyone who doesn't comprehend the danger that a sudden massive price increase poses to the shorts does not understand how paper markets work. Having to cover massive shorts is the motivation that forces the "Big 8" to work together (yes, manipulation), in the futures market, to keep prices from reaching levels that put their massive, "wash, rinse, repeat" profit machine in danger. Motivation? JPM alone had over $1 billion in precious metals revenue in 2020.
A "moment" of greed in this "partnership" is one threat to the stability of the COMEX. When the reward and the conditions are lined up, JPM is likely the one to break ranks among this metals cartel. Their underlying motivation will be the effect a an explosive price increase will have on their massive physical holdings. At the right prices JPM will throw the others under the bus. JPM's physical holdings are in fact their hedge against a COMEX bust. Laughable? Consider that numerous nations hedge their NATO treaties with massive stockpiles of weapons. A hedge is a protective "Plan B," nothing more. Don't leave home without it.
If you don't think these eight bullion banks are profiting heavily on the COMEX the way it currently operates, why has it been operating this way for so long and why do they continue to participate even in the face of CONTINUOUS hundreds of millions in fines for they way they operate? The huge fines are a cost of making money and a perpetual resource for those imposing the fines (why they don't put a stop to it). Incarceration would put a stop to it which explains why no one as faced a judge and jury.
JPM is currently the largest holder of physical silver on planet earth. If the gutter metal went up to $50 overnight JPM would be VERY happy campers. Don't believe everything you read in the Bulgarian News.
Azurescens
Posts: 2,686 ✭✭✭✭✭
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Depending on how much of all that it true, you still have to ask yourself - who's lying, and why?
I knew it would happen.
I dont redit,tweet or fakebook.
Wont say what bank he represents at the current time...easy enough for someone to look up if they care to?
He's welcome to his opinion but why the need to tell someone else what to do with their money?
OH Right hes a financial adviser
Reddit's collective buying power isn't even a blip on the radar compared to the likes of Berkshire Hathaway, the Saudi royal family, et al.
fake news. Macleod is pro-PMs and anti-COMEX. He is Head of Research and writes for Goldmoney.
He recently addressed the silver squeeze and its implications.
I believe the squeeze promotion that began on Reddit is somewhat responsible for the jump in the silver demand curve and is thus equally responsible for currently higher premiums. Rising premiums will eventually drive more COMEX longs to take delivery. The resulting eventual "run" on the COMEX vaults that have nowhere near the silver that COMEX promises the longs is what will break the COMEX and it's grip on bullion prices. Once this fractional bullion banking is fully exposed and bankrupted, the real market will send silver to the moon.
Rising premiums are a good thing for everyone except current buyers and of course, the COMEX and LBMA. I welcome them and am gladly paying them.
Give Me Liberty or Give Me Debt
Free advice is usually worth what you pay for it.....
Cheers, RickO
MacLeod says it came from reddit.
says it is like a plan fit for occupy wall streeters
then there is the comment. if one believes in disinformation then could this be disinformation for bullish silver?
if there are trillions at stake why aren't hedge funds (they are not banks) creating a short squeeze and getting trillionaire rich?
during the housing crisis one entity took bets against the housing instruments and made billions for themselves. seems like easy money here if it were true. (but it isn't)
Dont ask questions MsMorrisine.
Knowledge is the enemy of fear
"EIght of them are short silver and they would have to pay trillions to cover shorts if silver got to triple digits"
That is an amusing statement for a lot of reasons.
markets can move quickly in 2 and a half hours
here is WTI oil on the day it went negative for the first time
I know I've been watching them go bankrupt the past few days, it's been a great 48 hours for me.
2 billion users?
re:2 billion users? Strip out the inactive accts, duplicate accts and folks who have no $ or interest for 'investing' and the number is far smaller.
Can a stock be moved? Sure...saw that with GME...but I don't think any widespread sustainable market can be attributed to the platform.
K
Idk, I just bought 50 more oz just in case.
Lot of truth in the statement. It is no secret that the most concentrated metal shorts are in the hands of the "Big Eight." who trade heavily (always at a profit) among each other on the COMEX and LMBA:
Anyone who doesn't comprehend the danger that a sudden massive price increase poses to the shorts does not understand how paper markets work. Having to cover massive shorts is the motivation that forces the "Big 8" to work together (yes, manipulation), in the futures market, to keep prices from reaching levels that put their massive, "wash, rinse, repeat" profit machine in danger. Motivation? JPM alone had over $1 billion in precious metals revenue in 2020.
A "moment" of greed in this "partnership" is one threat to the stability of the COMEX. When the reward and the conditions are lined up, JPM is likely the one to break ranks among this metals cartel. Their underlying motivation will be the effect a an explosive price increase will have on their massive physical holdings. At the right prices JPM will throw the others under the bus. JPM's physical holdings are in fact their hedge against a COMEX bust. Laughable? Consider that numerous nations hedge their NATO treaties with massive stockpiles of weapons. A hedge is a protective "Plan B," nothing more. Don't leave home without it.
Give Me Liberty or Give Me Debt
Three questions:
big. big and more big.
If you don't think these eight bullion banks are profiting heavily on the COMEX the way it currently operates, why has it been operating this way for so long and why do they continue to participate even in the face of CONTINUOUS hundreds of millions in fines for they way they operate? The huge fines are a cost of making money and a perpetual resource for those imposing the fines (why they don't put a stop to it). Incarceration would put a stop to it which explains why no one as faced a judge and jury.
Give Me Liberty or Give Me Debt
JPM is currently the largest holder of physical silver on planet earth. If the gutter metal went up to $50 overnight JPM would be VERY happy campers. Don't believe everything you read in the Bulgarian News.
The whole worlds off its rocker, buy Gold™.
Scotia is making so much money, they are quitting
Scotia's (BNS) exit from metals trading occurred as they were being heavily fined for price manipulation.
Apparently this "cost of doing business" was not worth it to them as it is to the remaining "Big Eight."
Give Me Liberty or Give Me Debt
Maybe the squeeze would be so big that paper silver would trade at multiples of spot.
Knowledge is the enemy of fear