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.
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