And crash the banks. Great idea retard. Do you grow enough food to feed your family? Do you have enough family and weapons to guard your farm 24/7?
It's a trap.
How is it a trap? We are sitting at a fairly steady price, the value of silver isn't overly inflated so how are we going to get hurt?
Dealers are already refusing to sell inventory now, to further restrict supply. Trick everyone into thinking there is a shortage.
The price will bid up, then up some more, it's already at $29 and the hype is on, people are going to jump in at $35, $45, $55 or more, then the banks are going to flood the market with silver and crash the price, and they are going to strip WSB of all the earnings they won last week, and bust 'em. Since Biden is in power, maybe the banks will really stick 'em good, get that price above $100 before the axe falls. Silver will probably end up at $18 or so. Maybe $12.
That won't matter to the banks, WSB will be out of money by then. They are not going to be around to squeeze any more hedge funds. They'll be sitting on overpriced silver instead, unable to sell it. The banks can buy back silver at their leisure. Industry doesn't need this years silver supply anyways.
WSB does not have enough cash to take this on. Not enough by an order of magnitude. They need a trillion just to start playing here and have less than $100 billion.
It's the bankers who are driving the hype - THERE IS NO SHORTAGE OF SILVER.
They are sucking everybody in to get the billions back from last week, and they will.
Commodities are not stocks. There is no cap on supply. True physical ownership is unknown. Stocks are fixed quantities and can only be settled for stocks. Commodities can settle for cash. Delivery is not required by law. Silver is not fixed.
Real global silver reserves probably exceed 1 million metric tonnes, and that's just the national reserves. The published silver reserves for 2020 are 560,000 metric tonnes, from only ten countries. That's over $1/2 trillion worth right there. They'll be jumping in too. That also doesn't include private holdings, which are vast.
JP Morgan alone can bring a quadrillion to this party.
It's a fucking trap.
Offhand my guess is you're working for the other side and fear the common folk are going to crash your system. There's very little risk buying silver right now. I've been buying for over 50 years and it does have it's ups and downs but I'm way ahead of the game. I might have made more elsewhere but metals are rock solid. I think the people have an opportunity to take down the banks so let them do it.
Silver bug here , JPmorgan is long and has over 300 million ounces in their possession. You won’t hurt JPmorgan but will hurt other banks. People should do their research to know which banks are short
Hendry is right about JPM...this is not the same as the Gamestop situation. Although I for one am unconcerned about whether some other banks fail, as the price of PMs has been manipulated and held down for far too long. Silver is 40x underpriced.
Make sure you buy physical (PSLV) and not paper (SLV) though.
The thing is BIS is requiring all banks, to be incompliance with BASIL 3 in the derivative markets by June of this year.. 28th I think is the date. So all silver and gold shorts have to be covered. Who knows if JP Morgan is got enough to cover all their derivatives's, when every gold and silver oz.'s have at least 250 contracts to every oz. of the metals. How do you knon JP Morgan's 300 million oz. is true?
I agree. I'm in. give more info please.
Thank you God's Angel . Very informative and I appreciate your posts.
Distraction - sell GME to buy PSLV? Who really wins?
I did, it's all going to crash anyway.
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