Reddit #silversqueeze

Discussion in 'Silver' started by AustralianAustrian, Jan 31, 2021.

  1. Millennial Engineer

    Millennial Engineer Active Member

    Joined:
    Apr 19, 2020
    Messages:
    243
    Likes Received:
    227
    Trophy Points:
    43
    Last edited: Apr 7, 2021
    66rounds and clear like this.
  2. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    1,201
    Likes Received:
    1,805
    Trophy Points:
    113
    Location:
    Brisbane
    The thing is imo that anything PM says can and will be used against them at this point. They'd better to move to crisis communications mode - i.e., be extremely cautious with anything the customer service says. It all will end up in social media and misinterpreted in the worst possible way.

    Adams is definitely on the roll this morning... Kitco is targeted too.
    Screen Shot 2021-04-07 at 9.04.10 am.png Screen Shot 2021-04-07 at 9.04.45 am.png Screen Shot 2021-04-07 at 9.05.13 am.png Screen Shot 2021-04-07 at 9.05.26 am.png
     
  3. Millennial Engineer

    Millennial Engineer Active Member

    Joined:
    Apr 19, 2020
    Messages:
    243
    Likes Received:
    227
    Trophy Points:
    43
    On the Other hand the mint hasn't addressed John Adam's claims directly.
    (the saying any publicity is good publicity for business comes to mind) So they could be precieved to have an interest in keeping controversial publicity going.

    Im not sure if Statutory Declaration can be applied in this sense. Now he has the right to free speech (and get done for defamation) to make the claims from his post as Good as Gold. Which the mint hasn't challenged him at this point.


    Fr myself it would be good if John Stated that he had statutory declaration (or copies of) or equivalent from People receiving their product (Chinese bars) or not receiving their product $300,000 of unallocated which started this thing at the Perth mint.
     
  4. clear

    clear Well-Known Member

    Joined:
    Jan 12, 2012
    Messages:
    1,277
    Likes Received:
    206
    Trophy Points:
    63
    Location:
    WA
    Can the price of silver go up if we all only purchased Unallocated or Pooled silver ?
     
  5. Millennial Engineer

    Millennial Engineer Active Member

    Joined:
    Apr 19, 2020
    Messages:
    243
    Likes Received:
    227
    Trophy Points:
    43
    "By loaning out 10x more silver than is in their possession, the price of silver is reduced. This creates silver inflation. Just like how more lending in dollars creates dollar inflation." Likens it to Fractional Reserve banking. However increases the perception there is more silver in Society.

    From Happy Hawaiian's latest post. for unallocated. Pooled? how well do you trust they will operate by their TOS?

    https://www.reddit.com/r/Wallstreet...hats_actually_happening_with_the_unallocated/

    From what i can discern thebet would be to buy PSLV

    "Converting to allocated, getting a refund and buying PSLV, or getting the metal itself into your own hands has a multiplier effect that is incredibly powerful because silver uses a fractional reserve system.

    Stop holding a gift card. Don’t be a schmuk. The Perth Mint CEO hates you and talks down to you because you loaned him money and you are trying to collect. You’re his landlord not his customer. Get your fucking silver!"
     
    Last edited: Apr 7, 2021
    Slam and norman_h like this.
  6. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,640
    Likes Received:
    2,777
    Trophy Points:
    113
    Location:
    Melbourne
    All we need is him to share the verifiable proof he has. Until then, him and Perth Mint have vested interested in keeping the drama going to pocket premiums from the retail market.
     
    Slam, heartastack, jultorsk and 2 others like this.
  7. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,640
    Likes Received:
    2,777
    Trophy Points:
    113
    Location:
    Melbourne
    PSLV is still paper silver with Canadian gov as ultimate custodian. Don't understand the fuss. If big balled investors really wanted to crash the COMEX they'd just stand for delivery of 1000oz bars, why bother with PSLV
     
  8. ParanoidAndroid

    ParanoidAndroid Well-Known Member

    Joined:
    Dec 2, 2015
    Messages:
    948
    Likes Received:
    544
    Trophy Points:
    93
    Location:
    S.E.Q
    And in the meantime, Silver goes down..
     
    66rounds, heartastack and clear like this.
  9. Millennial Engineer

    Millennial Engineer Active Member

    Joined:
    Apr 19, 2020
    Messages:
    243
    Likes Received:
    227
    Trophy Points:
    43
    Yeah my point of viewing his evidence as credible was if he published a Stat Declaration that would be good enough proof in my opinion as something in the middle of the road. . Agreed about keeping controversy trending as long as possible best for all parties stirring the pot Adams/Perth mint

    Yeah if PSLV really became a problem im sure the Canadian Government would seize it. I guess PSLV was for the little guys, people who due to distance can't take ownership of 1000 oz bars directly (perhaps they could do it through their local dealer).
     
    66rounds likes this.
  10. Jason1

    Jason1 Well-Known Member

    Joined:
    Aug 9, 2019
    Messages:
    1,177
    Likes Received:
    1,318
    Trophy Points:
    113
    Location:
    Qld

    oh man that dude thinks highly of him self.

    where the hell is his evidence? He keeps showing examples of people getting their allocated silver, and claims thats proof they dont have silver to give lol.

    his wrestling meme of him beating up the silver refineries is inaccurate, he isnt beating up any one, He reminds me of that guy at a pub who is yells abuse at the biggest guy while asking his mates to pretend to hold him back as he knows he would get his arsekicked, but wants to feel and look to every one else in the room he is as tough as GGG, and if it wasnt for him being held back by his wimpy mates he would woop their arses lol
     
    Last edited: Apr 7, 2021
    66rounds, jultorsk and wrcmad like this.
  11. shinymetal

    shinymetal Well-Known Member

    Joined:
    Oct 29, 2012
    Messages:
    1,763
    Likes Received:
    576
    Trophy Points:
    113
    Location:
    victoria
    heartastack, 66rounds and clear like this.
  12. clear

    clear Well-Known Member

    Joined:
    Jan 12, 2012
    Messages:
    1,277
    Likes Received:
    206
    Trophy Points:
    63
    Location:
    WA
    I agree with Jason1 silver is silver , who cares if China or LBMA is supplying Perth Mint with silver - but I don't agree with the silver instruments (unallocated & pooled silver funds certificates and others) that we have unwittingly created and allowed them to be used as a substitute for silver. Is it fair to say that buying unallocated silver reduces demand ? and maybe reduce price ? are we forcing the price down by participating in unallocated & pooled silver schemes ?
     
    Last edited: Apr 7, 2021
    66rounds likes this.
  13. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,640
    Likes Received:
    2,777
    Trophy Points:
    113
    Location:
    Melbourne
    It is clear that unallocated or paper silver schemes reduce demand for physical and allow easier manipulation of the price in either direction. Participation should be limited to overnight hedging.
     
    SodaPop and clear like this.
  14. crewy

    crewy Active Member

    Joined:
    Jul 18, 2011
    Messages:
    153
    Likes Received:
    72
    Trophy Points:
    28
    Location:
    Perth
    clear likes this.
  15. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    2,640
    Likes Received:
    2,777
    Trophy Points:
    113
    Location:
    Melbourne
  16. clear

    clear Well-Known Member

    Joined:
    Jan 12, 2012
    Messages:
    1,277
    Likes Received:
    206
    Trophy Points:
    63
    Location:
    WA
    Thank you crewy, thats a very good explanation by Ditch_the_DeepState on Reddit, been waiting very patiently for the price of silver to go up when all along Unallocated and Pooled silver funds have been attracting and absorbing the big demand. This push for real price discover of silver is way bigger than John Adams & Richard Hayes disagreement or that they are conflicted and have vested interest, what I don't get is why this forum isn't participating in a positive manner ...banging on about get Statutory Declaration and proof of silver reserves at Perth Mint, who cares how much silver they do or don't have or if they have a production delay issue or the premiums are going up because retail purchases demand has increase ......really thats all BS. I look forward to seeing silver premiums going up 100 % + over spot lets see how Richard Hayes and John Adams explain that situation - why are we not talking about true price discovery ?
     
  17. Jason1

    Jason1 Well-Known Member

    Joined:
    Aug 9, 2019
    Messages:
    1,177
    Likes Received:
    1,318
    Trophy Points:
    113
    Location:
    Qld
    thats the dumbest thing Ive read on this forum for a very long time, Im sorry but thats insanity.

    its been outlined by a number of people here why people arent so keen on the whole kill Perth mint thing, but you dismiss it.
    If premiums get to 100% ill happily sell you a few thousand ounces, as no one else in the right mind would buy it.
     
    Last edited: Apr 7, 2021
    clear likes this.
  18. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

    Joined:
    Dec 31, 2014
    Messages:
    1,541
    Likes Received:
    1,517
    Trophy Points:
    113
    Location:
    Melbourne, Australia
    STKR, clear and Shlomo Goldberg like this.
  19. ParanoidAndroid

    ParanoidAndroid Well-Known Member

    Joined:
    Dec 2, 2015
    Messages:
    948
    Likes Received:
    544
    Trophy Points:
    93
    Location:
    S.E.Q
    We're Jaded.

    So we bought Bitcoins.
     
    crewy and clear like this.
  20. crewy

    crewy Active Member

    Joined:
    Jul 18, 2011
    Messages:
    153
    Likes Received:
    72
    Trophy Points:
    28
    Location:
    Perth

Share This Page