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#silversqueeze ramping up again
pmbug
Posts: 117 ✭✭
Peeps on X and Reddit are ramping up the #silversqueeze movement again. They are calling for folks to buy PSLV on March 31.
If they succeed in breaking through past the actor that has been blasting PSLV with intraday shorting to keep the premium to NAV contained, they will provide PSLV with the ammunition to issue more trust units and then acquire London Good Delivery silver bars, further stressing the LBMA's free float of silver.
Silver might get interesting in April.
Yelling at clouds on pmbug.com
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Doesn't seem like much of a squeeze to me. Mints are barely selling any bullion and dealers are not buying because they have no buyers. RGDS!
If all the small fish go and buy 10oz bars on 3/31 it will not move the market. As someone points out in the thread on Reddit, it would account for like 2 or 3 contracts. I don't see this as the next GameStop.
it would be nice to see spot break above $35.
Then why is spot price near 5 yr high? Somebody is obviously buying which means somebody is selling.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Hardly anyone is buying physical gutter. There are a few like me who have recently swapped from paper since physical premiums took a nosedive. Swapping one for the other as far as the gutter market is concerned is a wash. Other than that, yup not many buyers. THKS!
Well, it hasn't happened yet, so ...
I don't expect retail to have much of an impact, but as I recently commented on X:
Nothing wrong with retail buying physical (coins/small bars) while premiums are still low. When premiums start rising due to low inventory, it would definitely be a signal for caution.
Earlier attempts to "kill the morgue" and #silversqueeze failed to achieve the end goal. There was simply too much above ground silver stock sitting in vaults and retail demand is miniscule compared to industry. The situation is a bit different today. LBMA silver free float is vulnerable to a market squeeze. It looks like some actors in the COMEX are pressing the issue. Retail might as well jump on the bandwagon. It could be a fun ride.
Yelling at clouds on pmbug.com
I wrote an article this morning about the silver market and the nascent #silversqueeze 2.0 effort:
https://www.pmbug.com/threads/silver-squeeze-2-0-comprehensive-thesis.8137/
Yelling at clouds on pmbug.com
There certainly is alot of chatter online now about LBMA, Comex, and PSLV. I did my part to help vacuum up some silver this past week.
I knew it would happen.
First Mint is making a special 2 toz silver square to commemorate tomorrow's #silversqueeze 2.0 effort. They shared a picture on X:
Yelling at clouds on pmbug.com
I’m a goob, read the thread , saw the bar above and my first thought was ‘silver squeeze’ so is that bar extruded?
It's all about what the people want...
Tweet includes video from CNBC TV18 (India) talking about #silversqueeze:
https://x.com/Sorenthek/status/1906311002422903061
Yelling at clouds on pmbug.com
@pmbug
Interesting website and interesting links, thanks!
Bill Holter mentioned this accumulation by David Bateman. Yikes.
I knew it would happen.
I haven't seen Bill Holter's commentary, but David Bateman joined the #silversqueeze community on X and has posted pictures of part of his silver delivery. He says he is a neighbor of Peter Schiff in Puerto Rico. He also "liked" my article.
Yelling at clouds on pmbug.com
The retail buying market in gold and silver is very quiet (probably more people are selling than buying).
Prices are rising due to large players, institutions and countries buying.
Gold at an all time high, yet nothing is mentioned in the media.
None of my friends and family have a clue what is going on with gold and silver.
I don't think there will be much of a move on Monday.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Lots of generic 10oz bars at a local show today at $35/oz but not many sales.
First Mint made a special silver cube to commemorate today's #silversqueeze effort:
Only 2,025 mintage. They are being sold at spot. Ordering page is password protected - the offering was exclusive to the X #silversqueeze community. I have permission to share details privately with pmbug.com members.
https://www.pmbug.com/threads/march-31-silversqueeze-deals.8136/post-128745
Yelling at clouds on pmbug.com
Currently......gold up $24, silver down 42 cents.....................go figure.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
Looks like the FM cubes might be sold out now. That was quick.
Yelling at clouds on pmbug.com
i doubt any so-called private media physical "squeeze" will be able to stop the big money silver shorts that bullion bank traders are capable of.
My US Mint Commemorative Medal Set
That's where I'm at. Retail and random goblins could never drum up the purchasing power to move markets. That one dude bought like 13 million ounces and nothing happened.
The problem is paper silver is so enmeshed in markets via complex financial instruments. They're tightly woven into retirement funds and ETFs. It's not just like one stock in one company. The infection has spread to everything.
TPTB would never let something like this run wild, even if retail could somehow drum up funds to legitimately move markets.
It's my theory that shorts are being slowly unwound as bankers buy up physical and retail estate. Then when spot gets cut loose, they're left holding gold and houses, and the poor are left with inflation and despair.
Ouch
Cant wait for 3.0
Will they spike it to 60 after the drop?
That is a big dip
Confluence of events all hit on the same day:
Yelling at clouds on pmbug.com
The salient points during this market shakeout will be 1) no counterparty risk and 2) failure to deliver.
I knew it would happen.