Reddit #silversqueeze

you know the bullion banks are panicking when their PR people put out articles like this https://www.bloombergquint.com/gadfly/how-to-sell-your-silverware-and-not-get-ripped-off

 

I doubt this is an article from the bullion banks. But I briefly went through some of the articles she wrote, it looks like something out of a gossip or lifestyle magazine. The tone of the article, however, is mockery, but I won't blame her. Silver has been in excess supply for so many years and trading at just above the cost of production for a decade.

 

how bout the 2+ tonne stack recently posted lol

 

Am looking forward to seeing March Comex futures delivery volumes in a few days. That coupled with PSLV accumulation could see the start of a price squeeze or delivery delays/excuses etc. Next delivery month is May I believe

 

Can a normal home floor even take that kind of load? Plus the safe, 3-3.5tons. Definitely not for an apartment. But even a ground floor house, I doubt it can take 3 or 4 tons over single sq metre?

 

Whoa that is larger then the photo i was going to post.

Apparently its the 22nd most active/subbed to board on reddit with it being ranked 15th for its subscriber's participation.

 

There's probably just over half a tonne of silver in that pic. Around 20,000 Oz's would be my estimate, or 600+ kgs.

 

It's much more than that. I can see 25 stacks of 100oz bars, and 10 bars per stack, so 25000 oz just for the 100oz bars, or 777kg.

There are 20 monster boxes in the photo, assuming each is 500 oz, so 10000 oz, 311kg.

300 10oz bars (not half kilo bars?), so 93kg.

Total 1181kg excluding the coins.

 

There is a whole other vault I just thought that one was most impressive (just a pile more bars and monster boxes in the other). The 2T total looks accurate.

 

You're right, I didn't think they were 100oz bars at first glance. That's an impressive stack.

 

Yeah very impressive. Cant see much wrong with that haha.

 

You're only seeing half the photo.

 

From Sprott:

https://www.sprottmoney.com/blog/Ahead-of-March-COMEX-Silver-Deliveries-Craig-Hemke-Feb-23-2021

 

Written by people who actually know how a futures markets work, but makes money from unsophisticated investers who believes they are poor because the system is against them when it is their unwillingness to learn how the sytems actually work, which makes them the target in game

 

Finally a permabull has woken up and seen the light. Sprott must be the first one.

 

Exactly. A shortage in the overall physical market is the only way silver is going to be squeezed.

 

Good luck with that.
That has been the rhetoric for the decade+ that I've been watching - and still nothing.

 

Maybe your timing was off.

 

Doubt that most "public" permabulls are stupid lol, but they are playing their income source to maximum effect

 

I don't think there are permabulls in silver. After 10 years "bear" market, doubt anyone is a permabull. No one will hodl silver to zero. Everyone that hasn't sold yet is in it because it's cheap, versus other speculative asset classes, or is using it as a hobby or just treat it as rainy day money that would otherwise be doing nothing in the savings deposit. But the same cannot be said of cryptos or stocks. I personally hodl a stock to it's left 2% of the original investment.