Blitzdude is the only one that calls silver "gutter metal". Now that it's over $50, he should stop that nonsense. It makes him sound ignorant.
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
@jmski52 said:
You can pump the financial system's paper all you want. I'm not buying it.
Apparently, nobody is buying the physical gutter either. pump away. RGDS!
.
Someone is paying a premium to get silver right now. At major metals exchanges, a premium for near-term delivery of silver is being paid. Farther out (in time) deliveries are priced lower than near-term deliveries because there is not enough institutional silver to meet current demand, and people expect refinery output to provide more institutional silver down the road.
To say that "nobody" is buying silver is obviously FALSE.
Institutions aren't buying street-level silver (especially that which is less than 999). Institutional buyers want large standard bars. This is why refineries are currently over-supplied by the general public. The refineries are likely in a sort of cash crunch right now, waiting to get paid on large bars that are passing through metals exchanges. This is why the refineries have temporarily limited their intake of silver.
Contango and backwardation are terms used to define the structure of the forward curve. When a market is in contango, the forward price of a futures contract is higher than the spot price. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price.
There is something that is broken in the silver market, and we will probably find out what that is, sometime this coming week. I don't think that it's a good time to be short silver.
Q: Are You Printing Money? Bernanke: Not Literally
@jmski52 said:
There is something that is broken in the silver market, and we will probably find out what that is, sometime this coming week. I don't think that it's a good time to be short silver.
What's broken is that it is a tiny, fractured and undercapitalized market and industry therefore making it inefficient and susceptible to economic and societal influence. It is what it is.
@jmski52 said:
There is something that is broken in the silver market, and we will probably find out what that is, sometime this coming week. I don't think that it's a good time to be short silver.
Physical is being squeezed from LBMA and COMEX vaults - holders of futures contracts suddenly see the value of physical in hand. TD Securities’ Daniel Ghali noted that even Indian exchange-traded funds have suspended new inflows due to a lack of available metal.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Maybe noone is selling to them. Refiners are irrelevent to the turnover of metal. Refiners are the end game. Dealers are always buying because they have customers who buy in this frenzy. Dealers only need refiners when customers are not buying.
If you truely wish to understand the silver market look at retail demand not wholesale demand.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Maybe noone is selling to them. Refiners are irrelevent to the turnover of metal. Refiners are the end game. Dealers are always buying because they have customers who buy in this frenzy. Dealers only need refiners when customers are not buying.
If you truely wish to understand the silver market look at retail demand not wholesale demand.
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven. RGDS!
Then why are futures traders demanding physical delivery to the point of low vault inventory rather than roll over their paper into a new contract promise for real silver? Silver is higher because promises are looking weaker.
At some higher price point silver ETFs (except Sprott's) will buckle when it is realized that being backed by a promise is only good as long as there is leased silver to back it. Leased silver likely has many owners and the musical chairs will crumble when those multiple owners lay claim to it.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Maybe noone is selling to them. Refiners are irrelevent to the turnover of metal. Refiners are the end game. Dealers are always buying because they have customers who buy in this frenzy. Dealers only need refiners when customers are not buying.
If you truely wish to understand the silver market look at retail demand not wholesale demand.
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven. RGDS!
@blitzdude said:
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven. RGDS!
JimBob, down at the entrance of your holler not buying the crusty phizz you buried behind your trailer has nothing to do with the big bars flying out the door in London.
Dealers only need refiners when customers are not buying.
Like now?
You're saying there is no customer demand?
No. You're saying that. Dealers are lowering offers because they dont want to take in anymore physical because their refiners have closed the doors. The dealers need the refiners now. And you stated the dealers only need refiners if there are no buyers. So I was asking....there are no buyers now?
And yes Blitz, it appears he is finally coming around.
Dealers only need refiners when customers are not buying.
Like now?
You're saying there is no customer demand?
No. You're saying that. Dealers are lowering offers because they dont want to take in anymore physical because their refiners have closed the doors. The dealers need the refiners now.
Dealers don't need refiners, they are in the business of selling retail. . . and prices tell us they have buyers.
Were you asleep when econ 101 taught you rising prices reveal a seller's market?
No Way Out: Stimulus and Money Printing Are the Only Path Left
@carew4me said:
SLV is paper. Paper buys metal. SLV is metal.
Ounces in Trust as of Oct 10, 2025
496,528,422.20
Approximately 1.74 million metric tons or 56 billion troy ounces of silver have been mined throughout history. A significant portion of this, around 50%, is lost to corrosion or consumed by industry, while another portion is used in jewelry and other items. An estimated 5.5 billion ounces are held as refined silver bullion (bars and coins). Do you really believe SLV has possession of 1/10 of the word's available refined bullion?
It's called leasing. Untold number of parties lease the same ounce of silver (and gold). How many parties there are will be revealed when the music stops. Do you want to be one of many without a chair?
There is your retail buying wholesale leasing ... and its on fire.
Fixed it for ya.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Comments
Blitzdude is the only one that calls silver "gutter metal". Now that it's over $50, he should stop that nonsense. It makes him sound ignorant.
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
It's still the gutter. Metal of Kings is still 80x. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
It was 100x a few months ago
COPPER is gutter metal. Geeez
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
It's nothing but a shtick. And a drawn out yawner for sure.
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
I call it "Dispatches from a Kentucky Trailer Park"
Loves me some shiny!
Gentlemen, Gentlemen, well I know my Silver is the money of Gentlemen...
It's all about what the people want...
It was 30x 15 years ago. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
All those dudes who have been stacking thousands of dollars of copper pennies in their basements are about to have their day in the sun, too.
illegal to melt copper pennies for profit; they can always spend them for a loss.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Context was copper is actually ..... gutter metal (for those with deeper pockets of course)
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
Cancel that command, radar glitch.😀
Or the captain heard you.
Silver is not in backwardation. Out month futures are priced higher than near month.
Knowledge is the enemy of fear
Silver is not in backwardation. Out month futures are priced higher than near month.
Why do you continue to blow smoke up peoples' rear ends? Futures are paper, the spot/cash market is real.
Been buying any bonds lately?
I knew it would happen.
Why do you continue to believe crap that isn't true? You don't understand backwardation.
Here...learn something...
https://www.cmegroup.com/education/courses/introduction-to-precious-metals/what-is-contango-and-backwardation.html
Bonds have performed quite well this year. Thanks for asking.
Knowledge is the enemy of fear
You can pump the financial system's paper all you want. I'm not buying it.
I knew it would happen.
Apparently, nobody is buying the physical gutter either. pump away. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Maybe you should start shorting some silver along with coho.
I knew it would happen.
.
Someone is paying a premium to get silver right now. At major metals exchanges, a premium for near-term delivery of silver is being paid. Farther out (in time) deliveries are priced lower than near-term deliveries because there is not enough institutional silver to meet current demand, and people expect refinery output to provide more institutional silver down the road.
To say that "nobody" is buying silver is obviously FALSE.
Institutions aren't buying street-level silver (especially that which is less than 999). Institutional buyers want large standard bars. This is why refineries are currently over-supplied by the general public. The refineries are likely in a sort of cash crunch right now, waiting to get paid on large bars that are passing through metals exchanges. This is why the refineries have temporarily limited their intake of silver.
.
Contango and backwardation are terms used to define the structure of the forward curve. When a market is in contango, the forward price of a futures contract is higher than the spot price. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price.
There is something that is broken in the silver market, and we will probably find out what that is, sometime this coming week. I don't think that it's a good time to be short silver.
I knew it would happen.
Seems like no middle ground on the vibe out there. It's either TO THE MOON or back to 20.
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
What's broken is that it is a tiny, fractured and undercapitalized market and industry therefore making it inefficient and susceptible to economic and societal influence. It is what it is.
Knowledge is the enemy of fear
What's broken is that it is a tiny, fractured, undercapitalized and manipulated market. It is what it is.
F.I.F.Y.
I knew it would happen.
Yup.....cessation of buying is certainly manipulation.
Knowledge is the enemy of fear
London on global hunt for physical as inventory dwindles from short panic.
Diamond Hands: Activated!
Loves me some shiny!
Physical is being squeezed from LBMA and COMEX vaults - holders of futures contracts suddenly see the value of physical in hand. TD Securities’ Daniel Ghali noted that even Indian exchange-traded funds have suspended new inflows due to a lack of available metal.
No Way Out: Stimulus and Money Printing Are the Only Path Left
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Maybe noone is selling to them. Refiners are irrelevent to the turnover of metal. Refiners are the end game. Dealers are always buying because they have customers who buy in this frenzy. Dealers only need refiners when customers are not buying.
If you truely wish to understand the silver market look at retail demand not wholesale demand.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
If there was no demand for silver, prices wouldn't be skyrocketing.
Spot Silver = $51.75
Dec Futures Silver = $50.00
Backwardation means that someone is SOL. Some are saying that Citi has a big short position that is in trouble.
Retail demand is DOA and has been for quite some time. This run is and continues to be 110% paper driven.
Not really. Backwardation in this case reflects demand from India and China, which is demand for physical metal.
Again, for those who are slow to comprehend, a skyrocketing price reflects booming demand, not a lack thereof.
I knew it would happen.
Then why are futures traders demanding physical delivery to the point of low vault inventory rather than roll over their paper into a new contract promise for real silver? Silver is higher because promises are looking weaker.
At some higher price point silver ETFs (except Sprott's) will buckle when it is realized that being backed by a promise is only good as long as there is leased silver to back it. Leased silver likely has many owners and the musical chairs will crumble when those multiple owners lay claim to it.
No Way Out: Stimulus and Money Printing Are the Only Path Left
You remind me of Baghdad Bob
ISO 1978 Topps Baseball in NM-MT High Grade Raw 3, 100, 103, 302, 347, 376, 416, 466, 481, 487, 509, 534, 540, 554, 579, 580, 622, 642, 673, 724__________________________________________________________________________________________________________________________________ISO 1978 O-Pee-Chee in NM-MT High Grade Raw12, 21, 29, 38, 49, 65, 69, 73, 74, 81, 95, 100, 104, 110, 115, 122, 132, 133, 135, 140, 142, 151, 153, 155, 160, 161, 167, 168, 172, 179, 181, 196, 200, 204, 210, 224, 231, 240
JimBob, down at the entrance of your holler not buying the crusty phizz you buried behind your trailer has nothing to do with the big bars flying out the door in London.
"Silver Supply Crisis Deepens as London Inventories Plunge 33%
A global silver squeeze is reaching crisis levels as supply shortages, collapsing London inventories, and soaring demand push prices above $50 per ounce"
https://www.jpost.com/business-and-innovation/precious-metals/article-870113
Loves me some shiny!
Like now?
Knowledge is the enemy of fear
There is no backwardation....
Knowledge is the enemy of fear
You're saying there is no customer demand?
What's driving prices? Paper? LOL
No Way Out: Stimulus and Money Printing Are the Only Path Left
Looks like you are finally starting to get it. Man, I was beginning to wonder if I'd see the day. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Paper silver? Hard pass!!!! Those with physical will be soundly rewarded! You can line the birdcage with your paper!!!
if there were a metal squeeze at comex, the futures would be over spot
there is also a nov futures contract that is getting little action over the front month dec 25 contract
Squeeze is in London exchange vault. COMEX vault being drawn down to bail out London.
No Way Out: Stimulus and Money Printing Are the Only Path Left
No. You're saying that. Dealers are lowering offers because they dont want to take in anymore physical because their refiners have closed the doors. The dealers need the refiners now. And you stated the dealers only need refiners if there are no buyers. So I was asking....there are no buyers now?
And yes Blitz, it appears he is finally coming around.
Knowledge is the enemy of fear
Dealers don't need refiners, they are in the business of selling retail. . . and prices tell us they have buyers.
Were you asleep when econ 101 taught you rising prices reveal a seller's market?
No Way Out: Stimulus and Money Printing Are the Only Path Left
SLV is paper. Paper buys metal. SLV is metal.
Ounces in Trust as of Oct 10, 2025
496,528,422.20
There is your retail buying... and its on fire.
Loves me some shiny!
Approximately 1.74 million metric tons or 56 billion troy ounces of silver have been mined throughout history. A significant portion of this, around 50%, is lost to corrosion or consumed by industry, while another portion is used in jewelry and other items. An estimated 5.5 billion ounces are held as refined silver bullion (bars and coins). Do you really believe SLV has possession of 1/10 of the word's available refined bullion?
It's called leasing. Untold number of parties lease the same ounce of silver (and gold). How many parties there are will be revealed when the music stops. Do you want to be one of many without a chair?
Fixed it for ya.
No Way Out: Stimulus and Money Printing Are the Only Path Left