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About 6 days ago the threads died off here when JP Morgan and collaborators reinserted 1bil+ of paper SLV into the markets to "correct" the supposed /wallstreetbets "silver squeeze".

Around Jan 29th the markets closed roughly around $27 spot. The premium on bullion sites was appx. $3 over. Panic buyers and /wsb types started snatching up inventory. Monday markets opened got to $33ish with a $10 premium on shit you could order and put in your hands.

Unprecedented demand at bullion sites. Last week was crazy to watch until the JP correction occurred on paper SLV. Drops back down to $27 spot this last weekend and now the premiums are still up at mid to high 30s with diminishing supply at bullion retailers.

Sample size surveys at coin shops across the US indicate they are buying $1-2 over spot.

So why the wimper? Did the JP drop by the big boys put the tails between legs? Because right now we have seemingly near March level of toilet paper demand on physical silver.

About 6 days ago the threads died off here when JP Morgan and collaborators reinserted 1bil+ of paper SLV into the markets to "correct" the supposed /wallstreetbets "silver squeeze". Around Jan 29th the markets closed roughly around $27 spot. The premium on bullion sites was appx. $3 over. Panic buyers and /wsb types started snatching up inventory. Monday markets opened got to $33ish with a $10 premium on shit you could order and put in your hands. Unprecedented demand at bullion sites. Last week was crazy to watch until the JP correction occurred on paper SLV. Drops back down to $27 spot this last weekend and now the premiums are still up at mid to high 30s with diminishing supply at bullion retailers. Sample size surveys at coin shops across the US indicate they are buying $1-2 over spot. So why the wimper? Did the JP drop by the big boys put the tails between legs? Because right now we have seemingly near March level of toilet paper demand on physical silver.

(post is archived)

[–] • 1 pt

The only shortage in the silver market is retail coin product, because of reduced mint manufacture, because of covid.

The physical silver supply itself is actually in surplus, because of the lack of buying during the first half of 2020, again because of covid. Real physical silver is actually flooding the market. Most demand for silver is industrial.

The supposed shortage of silver is purely a myth, and always has been.

The attempt to corner the market on physical silver was likely a set up from the start initiated by the bankers, designed to trap the WSB day traders in a trade that would generate only losses, and tie up their money. Silver can easily absorb every dollar they have and barely budge on the spot price. Your average adult these days is unable to count and the bankers know that too.

[–] • 0 pt

exactly 27?

[–] • 0 pt

27ish yea, here: Check the dates for semantics -

https://www.kitco.com/charts/livesilver.html

[–] • 0 pt

27.23, can't make that stuff up