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Reddit Investors Piling Into Silver Drive Up Prices a Second Day

ZZZZZ

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I've heard the #SilverSqueeze song many times before over the last 20 years. I've seen the retail coin/bar markets be cleaned out a few times as some sort of fear-wave washes over those of us that are silver-aware. I've listened to the usual suspects in the silver business breathlessly tell me how the demand is like nothing they've seen before and there is almost no physical left. I'm at the point now where it's all becoming very deja vu. The excitement is fun, but is it going to go anywhere? Don't tell me it's coming, show me the money. I'm already convinced, I'm already positioned--SHOW ME THE MONEY. Maybe crypto has spoiled me but I want results.

Times like this are not the time to be buying. You buy when price is low, boring, and nobody is paying attention. Times like this are not the time to be selling either--you don't want to be selling early on the cusp of a big move. So right now there's nothing to actually do! One day our financial system will stumble and gold/silver will have their day. But in the meanwhile the false alarms are MANY.

So don't get my hopes up. Show me the money.
There are (at least) two ways to make money:

1. Buy low, sell high.
2. Buy high, sell higher.

Silver is still extremely cheap relative to just about everything on the planet.

Don't let the one day. 8% pop discourage you from buying more. There's a long way to go.

JMHO
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Oldmansmith

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This guy makes a good point. The media is pumping these stories about silver. Why?

Media Launches Coordinated Fake News To STOP GameStop Rebellion, Federal Regulator SHUT DOWN Trading (23 min 29 sec):​
Published on Feb 1, 2021 by Timcast​

Short summation: ITS A TRAP!
 

SongSungAU

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There are (at least) two ways to make money:

1. Buy low, sell high.
2. Buy high, sell higher.

Silver is still extremely cheap relative to just about everything on the planet.

Don't let the one day. 8% pop discourage you from buying more. There's a long way to go.

JMHO
.
.
I agree everyone should buy silver.
I agree silver will go up eventually.
But I think the time to buy is when the media isn't pumping it. I am afraid all these new people buying are going to get turned off when JPMorgan and others slam silver back down.
Like the guy in the video said, the posts on Reddit are telling people not to switch to silver right now. Keep the pressure on GameStop, etc.
I don't know where this will go but I believe the banks will smash silver and make a killing.
Just my two cents. YMMV.
 

ZZZZZ

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I agree everyone should buy silver.
I agree silver will go up eventually.
But I think the time to buy is when the media isn't pumping it. I am afraid all these new people buying are going to get turned off when JPMorgan and others slam silver back down.
Like the guy in the video said, the posts on Reddit are telling people not to switch to silver right now. Keep the pressure on GameStop, etc.
I don't know where this will go but I believe the banks will smash silver and make a killing.
Just my two cents. YMMV.
The Banksters tried their usual 10-ton smashes at least three times today. It slowed the upside momentum, but it didn't whack the price like it usually does.

Famous last words?: "This time it's different." :D
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ds_mustang

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There are (at least) two ways to make money:

1. Buy low, sell high.
2. Buy high, sell higher.

Silver is still extremely cheap relative to just about everything on the planet.

Don't let the one day. 8% pop discourage you from buying more. There's a long way to go.

JMHO
.
.
I'm not discouraged from eventually buying more. But I sure as hell ain't doing it today.
 

ABC123

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History repeats. Sure looks and smells the same as the last run of silver. People will buy buy buy all the way to the top. What goes up must come down.

IMO this year will be historic.
 

SongSungAU

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SongSungAU

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34+ .... ouch they are making it painful to jump in now. Never bought from JM are they a good house?
JM Bullion's CEO appeared on CNBC today (4 min 00 sec):


Published on Feb 1, 2021 by CNBC Television​
CNBC's Brian Sullivan discusses how silver inventories are selling out, in part because retail investors are buying up silver coins and bars, with Michael Wittmeyer, CEO of JM Bullion, an online precious metals dealer.​

One of the graphics used in the above video:

JM Bullion CEO on CNBC-2021-02-01.jpg
 
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stAGgering

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Wether "It's a Trap !" or a shot across the bow... we'll see.
Even if paper smack down does occur, it will not look different than previous.
Physical availability though...
In support of movement I stopped into LCS because his lights were on.
Sunday & Monday it's normally closed.
He said he may open only Sunday and Monday because he was so busy.

Had 2020 and 2021 Eagles, but had sold almost all.
Scored (3) 2021 ASEs @$33 ea.
Probably gift 'em as they are... meh.
 
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SongSungAU

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SM210201.jpg
 

FFA

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My thoughts are we are in a crack up boom and dollars are flowing into anything and everything. That is why the market is up, bitcoin is up, realestate, etc. Its just silver and golds turn and they have to keep the masses in the dark about hyperinflation and so they have blame it something, and the Reddit bandits are the so called cause. This smells like something funky. I mean why go from Gamestop to silver unless the Reddit bandits just want to jam a ice pick in the jugular vein of the financial system. If silver and gold go massively up then the banks have some serious problems. It might just be time for the world to start moving its dollars into silver and gold.

Other food for though. Is this just a way to shock the PM supply chain? Just like runs on the grocery store, and tarrifs on businesses. These are all classic tools governments use to shock supply chains to induce high prices for hyperinflation.

My two cents.
 

SongSungAU

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I confess, I don't know if the silver attention is to distract from GameStop, etc. or not. I don't hang out at Reddit but here's a post I just read there:

ATTENTION wsb SILVER FUDERS: Stop posting misinformation about silver like the bankster shills you are
https://www.reddit.com/r/Wallstreetsilver/comments/la2ha4
 

Silvergun

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Thecrensh

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Saw this ad today on the Facebook "Marketplace". The thing that got me were the responses. Most people act like silver art bars should be sold at spot value. Kinda concerning, and partially why I don't bother with collector stuff.
Silver Ad.jpg
 

anywoundedduck

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Hey, I Work for a Bank
You and the bank have been fleecing the American people for over 100 years. Thats untold trillions of dollars you stole from the people. How can you justify selling the same ounce of silver 250 times. So you can kiss my ass. Three digit price for silver? Try four digits asshole. And yes, we want you to fail, and fail you will.
 

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ttazzman

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Saw this ad today on the Facebook "Marketplace". The thing that got me were the responses. Most people act like silver art bars should be sold at spot value. Kinda concerning, and partially why I don't bother with collector stuff.
View attachment 200612
people need to be educated.....they dont know any different nothing like a crisis to help them learn
 

ZZZZZ

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Mike Maloney about to go live with an update.

 

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15 U.S.C.A. § 78i - the Illegality of Short Ladder Attacks (Legal insight)
DD
Dear SEC and President Biden,

I am calling on you today, pursuant to 15 U.S.C.A. § 78i, titled Manipulation of Security Prices, to prohibit manipulative and deceptive tactics that artificially depresses the price of GME and AMC securities in contravention of the laws of the United States.

Section 78i(a) clearly states that "It shall be unlawful for any person, directly or indirectly, by the use of the mails or any means or instrumentality of interstate commerce, or of any facility of any national securities exchange, or for any member of a national securities exchange -- (2) To effect, alone or with 1 or more other persons, a series of transactions in any security registered on a national securities exchange, any security not so registered, or in connection with any security-based swap or security-based swap agreement with respect to such security creating actual or apparent active trading in such security, or raising or depressing the price of such security, for the purpose of inducing the purchase or sale of such security by others."

Currently, GME and AMC stock prices are actively being manipulated using a mechanism called "short ladder attacks" to depress the price of these stocks in contravention of 15 U.S.C.A. § 78i. "Short ladder attacks" occur when large institutions in possession of the aforementioned stocks sell them for just less than market value in rapid succession between one another in order to drive the price down. The fact that short ladder attacks exist is apparent from on-going market activity that can be seen here

https://www.reddit.com/r/wallstreetbets/comments/la682h
https://i.gyazo.com/d33d2d9346092b3c041c54fc394225c3.png

(Check this from the huge dip last Thursday. No volume but still an enormous dip in price)

https://preview.redd.it/nmiqx27md4e...bp&s=f3e61c081b3332670eaa8b972c309c6d56177e33 https://www.reddit.com/r/wallstreetbets/comments/l71yxn
check this out

Such blatant attacks readily establishes prima facie case of market manipulation and must be investigated by the SEC immediately. Further silence from the SEC on this matter, which can be investigated quite quickly, not only encourages further market manipulation but also further diminishes public trust and faith in the U.S. Government.

Finally, section 78i(f) makes it clear that "Any person who willfully participates in any act or transaction in violation of subsections (a), (b), or (c) of this section, shall be liable to any person who shall purchase or sell any security at a price which was affected by such act or transaction."

I am calling on you to do your job. The direct manipulation of GME and AMC stock prices is an on-going crisis that directly hurts the public interest and is AGAINST THE LAW. You must act now before it is too late.

Sincerely,

Your Average Retail Investor

https://www.reddit.com/r/wallstreetbets/comments/laferl
 

Uglytruth

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Uglytruth

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From APMEX. I asked a few questions last week about selling. Never more than that. They sent me a quote and today this. Stocks must be running low.



We recently had the pleasure of providing you with buyback prices for items you are interested in selling. I am following up to see if you had the opportunity to review the prices and if you would like to proceed with your sale to APMEX.



As one of the most trusted names in the Precious Metals industry, we are able to offer numerous advantages our competitors simply cannot. Our exclusive relationship with UPS means you receive discounted shipping rates on either Next Day or 2nd Day Air, both of which allow you to get paid faster. All packages are insured and include full tracking every step of the way.



When selling your valuable assets, trust is one of the most important factors to consider, so why not sell to one of the best? Contact our Purchasing Department at (800) 375-9006 ext. 256 during normal business hours with any questions or to proceed with your transaction.
 

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<SLV>

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<SLV>

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<SLV>

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Tbonz

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From APMEX. I asked a few questions last week about selling. Never more than that. They sent me a quote and today this. Stocks must be running low.



We recently had the pleasure of providing you with buyback prices for items you are interested in selling. I am following up to see if you had the opportunity to review the prices and if you would like to proceed with your sale to APMEX.



As one of the most trusted names in the Precious Metals industry, we are able to offer numerous advantages our competitors simply cannot. Our exclusive relationship with UPS means you receive discounted shipping rates on either Next Day or 2nd Day Air, both of which allow you to get paid faster. All packages are insured and include full tracking every step of the way.



When selling your valuable assets, trust is one of the most important factors to consider, so why not sell to one of the best? Contact our Purchasing Department at (800) 375-9006 ext. 256 during normal business hours with any questions or to proceed with your transaction.
Any chance we can see the lowball offer they made to you?

Would be interesting to see what they were offering for different items.
 

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Screen Shot 2021-02-01 at 11.17.49 PM.png


Apparently, they've been asleep at the wheel since 1971....
 

Uglytruth

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Any chance we can see the lowball offer they made to you?

Would be interesting to see what they were offering for different items.
Thursday Jan 28 at 10:54 AM

Thank you for contacting APMEX! Please see the attachment for an indication of what APMEX would currently pay for your items. Please note this is not a confirmed transaction. The offers listed are subject to change with the metal spot price and our inventory levels. To finalize this transaction call us at 1-800-375-9006, ext. 256.

As one of the most trusted names in the Precious Metals industry, we are able to offer numerous advantages our competitors simply cannot.

  • Our exclusive relationship with UPS means you receive discounted shipping rates on either Next Day or 2nd Day Air, both of which allow you to get paid faster.
  • All packages are insured and include full tracking every step of the way.
  • We pay our customer in approximately 1 business day from package receipt.
  • In business since 2000 with over $15B in transactions and an A+ BBB rating.
1612262842153.png