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Reddit Investors Piling Into Silver Drive Up Prices a Second Day

solarion

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The wallstreetsilver/bets guys seemingly intend to drain the market of retail physical silver(done) and keep it drained for a month straight. That has the potential to wake some up to the fraud that is "spot price" rigged by banksters.
 

ds_mustang

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The wallstreetsilver/bets guys seemingly intend to drain the market of retail physical silver(done) and keep it drained for a month straight. That has the potential to wake some up to the fraud that is "spot price" rigged by banksters.
I hope so, but I highly doubt it. I've heard this over and over for decades. Even if it goes into shortage, what then? Price goes up, holders are enticed to sell, price goes down--the same as any other commodity. At no point does it really DO anything. Silver is no longer intrinsic to the monetary system. If you want something to actually happen, you have to build up gold/silver into the financial system again.

One day people in power might remonetize gold again for their own reasons (maybe the dollar will be collapsing). That will spike the price of gold and silver will follow. But gold will lead and silver will follow. It's not silver that countries and central banks hold, it's gold.
 

oldgaranddad

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...and clog up the refinery channels with 40% and Sterling (92.5%), the refiners hate that stuff because it takes longer to process, produces way more byproduct that they have to dispose of. Most Comex refiners only do 99.99% and 90% so they need to get the silver from another refiner who processes all the odd ball types of recycled silver.
 

solarion

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I hope so, but I highly doubt it. I've heard this over and over for decades. Even if it goes into shortage, what then? Price goes up, holders are enticed to sell, price goes down--the same as any other commodity. At no point does it really DO anything. Silver is no longer intrinsic to the monetary system. If you want something to actually happen, you have to build up gold/silver into the financial system again.

One day people in power might remonetize gold again for their own reasons (maybe the dollar will be collapsing). That will spike the price of gold and silver will follow. But gold will lead and silver will follow. It's not silver that countries and central banks hold, it's gold.
Silver is money...just as gold is money. Of course the government and their crony banksters don't want gold and silver prices to rise as it would reveal the scam that is their fiat currency system.

Silver and to a lesser extent gold are not treated like other commodities because they're not like other commodities. The banksters and government rightly see them as a threat to their rigged markets and in the interests of protecting that system they attack anything that attempts to compete. The physical silver market has, to my mind, the best chance of breaking free as it's a tiny market relative to physical gold.

The objective is to point out the absurdity of burying commodity market price signals beneath layers of paper fictions.
 

gringott

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Two of my four joke limit buys at Vanguard executed.
SLV, AG.
NOK executed on the 29th.
Only BB holding out.

Hold the line.
 

solarion

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Gross. Good luck with your "holdings".
 

southfork

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How about the goldl and silver chaos, aka paper shit. If yellen doesn't understand short selling and covering why the fuck does she have this job

Janet Yellen Says She Needs To "Understand Deeply" The GameStop Chaos

by Tyler Durden
Thursday, Feb 04, 2021 - 12:10
What would easily explained "chaos" in the markets be if Fed enabler turned Treasury Secretary Janet Yellen didn't weigh in to muddy the waters?
Yellen said Thursday she wanted to "understand deeply" what happened during the GameStop fiasco before making any regulatory decisions, according to Reuters.
On Good Morning America on Thursday, Yellen, responsible for overseeing possibly the largest Fed-induced market bubble in history, said: “We really need to make sure that our financial markets are functioning properly, efficiently and that investors are protected.”


Yellen also argued for "a massive federal stimulus plan", which probably explains why gold dumped 2.3% early in the Thursday cash session.
“We never had anything so large even during the great recession. We need to make sure people have jobs, if they don’t have jobs, that they’re supported,” Yellen said. She said she is putting together a meeting with the heads of both the SEC and the Federal Reserve Bank of New York, along with the CFTC, on Thursday.
That sure makes us feel better...
Yellen said that regulators will “discuss whether or not the recent events warrant further action,” and, for some added comic relief told ABC that she needed to "understand deeply what happened before we go to action but certainly we’re looking carefully at these events.”
GameStop stock - after being pumped by everyone from Chamath to Elon Musk, in combination with millions of Reddit users - has been sliding steadily since short interest in the name has dried up. And if Yellen needs a place to start "understanding deeply," we recently covered some of the more interesting ways that shorts stuck in GameStop have been covering.
5,16162
NEVER MISS THE NEWS THAT MATTERS MOST
 

Irons

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...and clog up the refinery channels with 40% and Sterling (92.5%), the refiners hate that stuff because it takes longer to process, produces way more byproduct that they have to dispose of. Most Comex refiners only do 99.99% and 90% so they need to get the silver from another refiner who processes all the odd ball types of recycled silver.
winner3.gif


Glad to see someone is paying attention. I give silver jewelry away to friends if it's clean and still looks good. It ain't worth enough to try to sell it on ebay. I also have a pile of nasty corroded silver coins and jewelry in a baggie I have been throwing the stuff in for the past 4 years. One of these days I'll bring it in when I scrap some Gold, but it ain't worth enough to bring in on it's own. I forget what % I get for it, but it ain't much..


.
 

GOLDBRIX

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The wallstreetsilver/bets guys seemingly intend to drain the market of retail physical silver(done) and keep it drained for a month straight. That has the potential to wake some up to the fraud that is "spot price" rigged by banksters.
And Sprott Assets sez when they feel the time is right they are prepared to drop a 5 Million T. ounce BUY on COMEX.
 

solarion

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GOLDBRIX

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"Buy Physical, Squeeze Silver"
From the 4min. Tweet further down the page. ( Good 4 min. IMO)
 

AurumAg

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I hope Sprott buys millions more ounces of physical near spot!

Wow, the banksters are crushing both gold and silver with their paper fictions this morning. Paper gold back under 1800 and paper silver back under 26. These losers never stop with their manipulations. Pity premiums are still 20 freaking percent on physical silver...while they crash the price on their counterfeit crap.

View attachment 200909

These guys are now seemingly affecting worldwide search results for the word "silver".

View attachment 200932
 

GOLDBRIX

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AurumAg

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EO 11110

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the run on ebay continues -- rolls of eagles firm in the 700's
 

gringott

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nowon

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anywoundedduck

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the run on ebay continues -- rolls of eagles firm in the 700's
Or 35 to 38 dollars an ounce, when you buy 20.
A $10 to $13 premium from spot paper price. As more physical is purchased, the wider the spread.
 

oldgaranddad

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One good thing the Reddit gang is doing is putting pressure on banks, brokerage and clearing houses so that they can’t play any of their exotic manipulations, only plain vanilla ones. One mistake, their whole charade comes apart. This alone must be burning their biscuits and dashing their plans for their bonuses.
 

solarion

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Goldhedge

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I'm thinking $8.50/share would be a good entry point.

But what's to keep it from dropping even lower??

Is there a short position out there that needs to cover, or is this just a pump n dump?

$500k in shares is about 58.8K shares which sounds like a lot, but when you put that up against 1 million shares it's not.

Screen Shot 2021-02-04 at 10.10.59 PM.png
 

Uglytruth

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gringott

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My last interest statement was 2 cents.

Next will be negative 2 cents.

Taxes. At this point, although I set digits aside to cover it, I suspect we have a 50% chance of there not being a individual tax filing for 2021.
Yeah, I know.
I'm trying to break my normalcy bias, cognitive dissodence and mental self interest gymnastics in order to think outside the box {coffin}.
 

ds_mustang

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My last interest statement was 2 cents.

Next will be negative 2 cents.

Taxes. At this point, although I set digits aside to cover it, I suspect we have a 50% chance of there not being a individual tax filing for 2021.
Yeah, I know.
I'm trying to break my normalcy bias, cognitive dissodence and mental self interest gymnastics in order to think outside the box {coffin}.
Just want to mention the falling interest rates are DEFLATIONARY as everyone is now sure inflation is raging everywhere.
 

gringott

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Deflationary. Yep, if you think this reflects reality.
1612539359198.png


p.s. everything I track on my "wish" list has risen in price over that entire period. My consumer price index. A guess? At least 20% up to 40%.
 
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solarion

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The BLS weights the items included in the CPI-U based upon their own interpretation of what they call "Relative Importance". I find their weighting to be really dumb and their indicators to not reflect price inflation reality.
 

BigJim#1-8

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What's going on? It's Friday c& PM's are going up instead of being monkey hammered.
 

gringott

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What's going on? It's Friday c& PM's are going up instead of being monkey hammered.
The masters of the universe are having Friday bagel brunch and will get back to you this afternoon.

Sorry for the delay. - posting for JPM. Convicted Criminal.
 

solarion

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Sometimes the Friday monkey hammering waits till after lunch on the US Eastern sea board.

Been checking into ability to source deliverable 1000oz bars. Thus far everywhere I've checked is sold out. The silver buillion buying has been very thorough indeed.
 

ds_mustang

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Deflationary. Yep, if you think this reflects reality.
View attachment 201016

p.s. everything I track on my "wish" list has risen in price over that entire period. My consumer price index. A guess? At least 20% up to 40%.
I dunno. We haven't had a deflationary crunch yet, and that comes before runaway inflation. All the existing debt has to crush people before the money eventually becomes worthless. The government isn't creating trillions in dollars, it's creating trillions in debt--there is a difference. There are several end results from debt that gets out of control... devaluation/inflation or default. Neither will happen until there is pressure on the debt. The Fed actually WANTS inflation to pick up again. It's run away deflation they are scared of... that's what will lead to either devaluation/inflation or default.