silver short squeeze

Discussion in 'General Precious Metals Discussion' started by SilverHaas, Jan 28, 2021.

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  1. Number 47

    Number 47 Well-Known Member

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    Why would I block someone for a discrepancy between metric and imperial T and a miss-read number in my convertor.... I really should wear my glasses more often
    20210131_202859.jpg
     
    Last edited: Jan 31, 2021
  2. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    All the silver ETF in the world holds less than 600 million ounces, silver bullion maybe another 500 million ounces. Inventory held by corporations maybe another 1-2 billion ounces so about 4 billion ounces in total max.
     
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  3. Number 47

    Number 47 Well-Known Member

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    4 billion ounces ÷ 7.8 billion people ... that's around .5 ounces per person.... definitely an undervalued resource.
     
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  4. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    That's debateable.
     
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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    There are many billions more in land fills, electronics, cars and maybe silver utensils but these are not easily recovered and converted into investment bullion.
     
  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    1 tonne (metric) = 32,150 troy oz's
     
  7. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Let's call it 3 billion oz's for argument's sake.
    Total worth around USD$80 billion. ($GME started with a market cap of only $1.4 billion). So the investment $ needed is to turn $SLV into $GME is at least 60 times more - probably many more multiples once $SLV starts to rise and the strategy needs lots more buy in to average up and keep the price rising.

    As well, lets play along with the permabull rhetoric... beautifully summarised above in post #5 by Azure (mate that is all the best of Mike Baloney and Peter Schitt summarised into a single paragraph... kudos to you ;))

    Rumour has it that SLV saw an inflow of almost $1 billion dollars on Friday, which is nearly double that of the last record.
    Rumour also has it there are large banks currently naked shorting silver on the futures markets one of them is JP Morgan.
    Rumour also has it that that there is an interest in suppressing the price of silver as every increase undermines the confidence in the U.S. Dollar (this is the key argument of all permabull's, so is very fitting on this forum).

    What is essential to know about SLV is the following:

    The sponsor of the $SLV Trust is iShares Delaware Trust Sponsor LLC (the “Sponsor”), a Delaware limited liability company and an indirect subsidiary of BlackRock, Inc. (“BlackRock”). The trustee of the Trust is The Bank of New York Mellon (the “Trustee”) and the custodian of the Trust is JPMorgan Chase Bank N.A., London branch (the “Custodian”). The agreement between the Trust and the Custodian is governed by English law. The Trust does not have any officers, directors or employees.

    The same bank that is heavily shorting silver is the custodian of $SLV. The last time someone tried to increase the price of silver the FED created a special rule to fuck them. The two speculators that tried and successfully (for a time) controlled the majority of silver were billionaires even before their action in the silver markets. After the intervention from the FED, they went broke, billionaires going broke isn't something you hear often.

    If you think you can compete against the largest banks in the nation and the FED you are wrong.

    Additionally, the short interest is nowhere near that of the starting position of $GME. GME was shorted multiple times the SOI. Shorting shares is effectively shorting the spot market.
    However, shorting futures only counts for conversion in the current-month, so there is nowhere near the multiple short effect on silver as there was to start with GME. The current-month dilution of effective short future positions can easily be garnered from COMEX data.

    So, I call BS.
    It may get a small spike, but ultimately will be a fizzer IMHO.
     
    Last edited: Jan 31, 2021
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  8. Number 47

    Number 47 Well-Known Member

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    I miss read my convertor.
    It said 29,166.6667
    I read 29,166,667 ... I'm off to spec savers.
    Apparently there's a slight difference between a comma and a decimal place
     
  9. 66rounds

    66rounds Well-Known Member Silver Stacker

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    https://sdbullion.com/1980-hunt-brothers-silver-bailout-scapegoating
     
  10. 66rounds

    66rounds Well-Known Member Silver Stacker

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    This bloke talks way too fast, but I agree with his sentiment. If you believe the market is manipulated, there is no effective way to squeeze silver. If you don't believe it's manipulated, there is no way you could build enough pressure from retail investment to squeeze the price set by a flawed paper contract discovery mechanism.


    @mmm....shiney! You might like some of what he has to say around the 5-6min mark
     
    Last edited: Jan 31, 2021
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  11. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    When laughed when I heard crypto. Just another crypto pumper. One of the reason why I don't believe the government will intervene in silver trades as they did in the 70s is because they have more trouble on their hands with crypto.
     
  12. Oddjob

    Oddjob Well-Known Member Silver Stacker

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    ABC IT issue or just getting ahead of the market?? This is their USD site price now.

    upload_2021-1-31_23-36-5.png
     
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  13. STKR

    STKR Well-Known Member Silver Stacker

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    You can't print the physical - As much as they'd love too.

    Demand for Investment Grade Bullion has increased considerably over the past 12 years. Averaging 230 Moz a year from 2008-2020. The 12 years prior to that (1996-2007), the average was 35Moz (even less the years before that).

    Even if they fail to drive the paper price up, they've put the spotlight on Silver in a meaningful way. This could be the beginning of higher Physical demand for years to come...

    I don't underestimate the power of this movement. I think this could lead to BIG things in the silver space. BUBBLE TERRITORY! It might present some excellent opportunities in 2021 and beyond.

    I've been trying to remind myself... "No expectations, No disappointments!", But it's hard to ignore the potential here :D
     
  14. alor

    alor Well-Known Member Silver Stacker

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    with so many ETFs holding physical silver
    3 billion ounces is just too little
    if you are a member bank, ETF can be drawn to make good your delivery
     
  15. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    The market cap of slv and pslv are public info. Silver market is much smaller than most stocks. Even assuming the higher end estimate of 4 billion ounces, it’s only a 100 billion market as compared to the 1 trillion bitcoin market.
     
    Last edited: Jan 31, 2021
  16. alor

    alor Well-Known Member Silver Stacker

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    many dealers have this
    We are currently experiencing high demand for physical silver products.
    APMEX
    Money Metals
    lol
     
  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    There isn't much physical silver bullion available for sale to begin with. The stocks currently is much lesser than in Feb 2020. Of course, the premium also much higher than before, at least for local ones. Aussies can get cheaper bullion. The supply is tight, at least for kilo bars and 100 oz. 1000 oz maybe no issue yet. :D
     
  18. ppier

    ppier Member Silver Stacker

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    Bullion dealers are out to make a profit as is everyone else in this global materialistic free market society, just profiteering at its finest.
    Diamond hands works both ways, don’t buy! ;)
     
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  19. bretto

    bretto Active Member

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    Ive always been frustrated by the fact the general public couldn't see the advantage of buying just a few OZs of physical Silver. Australians waste vast amounts of money on throw away items every day.
    It seems the people may be finally waking up.
    Its also amazing the Comex etc, has gotten away with what they do for so long.
     
  20. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Beautifully said, after corrections ;)
     

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