Midnight to 6am - Overnight Spot Watchers Spot...
- Thread starter Turk
- Start date
Ewe beudy Arghzure, that was fun!!! Now I've got me rum can you help get me back in the canun? 
Feels like 3 days ago when we were at this price haha.
I think they can do better than this little fart in the wind.
I think they can do better than this little fart in the wind.
As this story is written, it is 11:01 AM eastern U.S. time on Sunday, December 28. Reports have been coming in CLAIMING "a systemically important bank, a major player in Silver Futures, failed to pay its Margin Call by 2:00 AM and was liquidated by the futures Exchange at 2:47 AM eastern US time."
The reports are CONCEALING the name of the bank, but it is confirmed that overnight, the federal reserve was forced to pump another $34 Billion into the Banking System through its Emergency Overnight Repo facility. This $34 Billion is on top of the $17 Billion which had to be pumped-in two days ago, on Friday morning.
The Bank involved is described as "one of the largest players in the precious metals derivatives market" blew past every risk limit, breached every covenant. and exhausted every line of credit."
The Bank is further described as having been "massively short silver; we are talking massive positions numbering in the hundreds-of-millions ounces."
According to the information coming out this morning, when Silver broke through $70 per ounce on Friday, this bank received a "Margin Call" from the Commodities Exchange(s) which "exceeded their liquid capital." I am further told that "the clearinghouse gave them until Sunday morning to post $2.3 BILLION in additional cash collateral."
The report goes on to say that "over the past 36 hours, the Bank Executives frantically tried to raise cash. They reportedly called their counter-parties, they tried to sell assets, they begged for Bridge loans. Nobody helped them."
The reports are CONCEALING the name of the bank, but it is confirmed that overnight, the federal reserve was forced to pump another $34 Billion into the Banking System through its Emergency Overnight Repo facility. This $34 Billion is on top of the $17 Billion which had to be pumped-in two days ago, on Friday morning.
The Bank involved is described as "one of the largest players in the precious metals derivatives market" blew past every risk limit, breached every covenant. and exhausted every line of credit."
The Bank is further described as having been "massively short silver; we are talking massive positions numbering in the hundreds-of-millions ounces."
According to the information coming out this morning, when Silver broke through $70 per ounce on Friday, this bank received a "Margin Call" from the Commodities Exchange(s) which "exceeded their liquid capital." I am further told that "the clearinghouse gave them until Sunday morning to post $2.3 BILLION in additional cash collateral."
The report goes on to say that "over the past 36 hours, the Bank Executives frantically tried to raise cash. They reportedly called their counter-parties, they tried to sell assets, they begged for Bridge loans. Nobody helped them."
Just AI generated text ozcopper? OR is this an account compromise scenario?
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What crash? What bubble burst? Silver is at $108.00 AUD / $72.00 USD this morning. Sounds great to me, if all of the supposed games, emergency bailouts, margin hikes and such occurred and silver is still at these prices I'm not complaining.
Six months ago I was fantasising about $75 AUD by Xmas and told anyone who cared to listen buy anything under $45 USD.
No crash on my radar.
All good, Just checking it was actually you.
If a crash means we are up 160% for the year, I hope it crashes every year!
Having trouble with images today, but just look at the price in AUD from OCT to DEC.
Top $84, Neckline $79, fell to $74, before hitting ~$70 range, then retraced to test highs, and then blew past them.
Besides timeframe being months instead of days, and at a ratio of 1.5AUD : 1 USD.
The feeling of Deja-vu, I mean...
its got back up from here before.
Top $84, Neckline $79, fell to $74, before hitting ~$70 range, then retraced to test highs, and then blew past them.
Besides timeframe being months instead of days, and at a ratio of 1.5AUD : 1 USD.
The feeling of Deja-vu, I mean...
its got back up from here before.
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It will be interesting to see what the narrative from the press have to say in the future when the dust has settled on all of this.
One of the biggest things that stick for me from 2011 was that it became far more obvious how much the press is used as a weapon against your average investor, bastards couldn't lie straight in bed.
One of the biggest things that stick for me from 2011 was that it became far more obvious how much the press is used as a weapon against your average investor, bastards couldn't lie straight in bed.
I plan to be HODLing and stacking for another decade so this is filler for me.
It sure is fun to watch the drama unfold and exciting too.
We are making history almost every single day and this will be talked about for a long long time.
I just hope I have enough popcorn to last!
($50 seems like such a tiny number now. Its wierd. )
It sure is fun to watch the drama unfold and exciting too.
We are making history almost every single day and this will be talked about for a long long time.
I just hope I have enough popcorn to last!
($50 seems like such a tiny number now. Its wierd. )
The yuge bear run reminds me of my buddy that likes to date desperate single moms.
He thinks hes getting a good deal cuz shes easy and a cheap date but he has to pay big bucks for the overnight babysitter.
Good job bro. Now your broke and your mouth tastes strange.
You gonna pay for it either way I guess.
He thinks hes getting a good deal cuz shes easy and a cheap date but he has to pay big bucks for the overnight babysitter.
Good job bro. Now your broke and your mouth tastes strange.
You gonna pay for it either way I guess.
It will be interesting to see what the narrative from the press have to say in the future when the dust has settled on all of this.
One of the biggest things that stick for me from 2011 was that it became far more obvious how much the press is used as a weapon against your average investor, bastards couldn't lie straight in bed.
100%.
I think the huge difference fundamentally this time around opposed to 2011 is the very very real case of supply and demand.
The industrial demand is set for exponential growth in the coming couple of years, Team that with a finite resource mined at a snails pace, then mathematically there's only one direction this can go.
Not sure how the media will be able to gloss over this glaring fact.
Who knows, maybe this time next year we're saying "remember the good old days when you could get silver at $100!".
Ghost Story
Well-Known Member
Aussie dollar went past USD 2011
Is it reversing? Im scared, hold me.
To touch on a point raised by Oz re the Chinese ban on refined silver come 1 Jan 2026, can anyone shed any light on the usual terms a miner may have with a silver refiner for the sale of their silver ore concentrate.
Whilst miners will of course wish to sell to highest price provider and with so much refining capacity off-shored to China in recent decades where to build and run a refinery is cheap, will the miners come under pressure from Govt mints, large private mints / wholesalers to redirect their silver concentrate to non PRC refiners to ensure supply or finished product.
Whilst China refines circa 60-70% of the worlds silver, they only produce approx 13-15% from own mines. Thus if the miners can direct ore to non PRC refiners, then that can resolve part of the supply issue but, subject to how long those miners are contracted to Chinese refiners from 1 Jan 2026 onwards, and can the big and small refiners inc those few in Aust, the US, Asian and Euro names scale up production to take on the redirected silver for refining.
It would make sense that the west and non China Asia should redirect their silver concentrate to home refiners or non PRC, but $ will usually drive where stock goes to. Unless Govt's impose a ban of the export of silver concentrate to China or the non Chinese refiners outbid their non Chinese rivals, then miners may just keep sending their silver ore on a one way boat trip to China as it's in their economic best interests. I think given the current US Administrations view on silver as a critical mineral plus many major global corporates production dependent on regular refined silver supplies, I think one of the former may happen sooner than later eg Govt intervention or higher margins payable by non Chinese refiners to miners...Either way the price of silver will probably still go up due to lack of supply or increased ore prices and refining costs driving price of finished silver up.
Whilst miners will of course wish to sell to highest price provider and with so much refining capacity off-shored to China in recent decades where to build and run a refinery is cheap, will the miners come under pressure from Govt mints, large private mints / wholesalers to redirect their silver concentrate to non PRC refiners to ensure supply or finished product.
Whilst China refines circa 60-70% of the worlds silver, they only produce approx 13-15% from own mines. Thus if the miners can direct ore to non PRC refiners, then that can resolve part of the supply issue but, subject to how long those miners are contracted to Chinese refiners from 1 Jan 2026 onwards, and can the big and small refiners inc those few in Aust, the US, Asian and Euro names scale up production to take on the redirected silver for refining.
It would make sense that the west and non China Asia should redirect their silver concentrate to home refiners or non PRC, but $ will usually drive where stock goes to. Unless Govt's impose a ban of the export of silver concentrate to China or the non Chinese refiners outbid their non Chinese rivals, then miners may just keep sending their silver ore on a one way boat trip to China as it's in their economic best interests. I think given the current US Administrations view on silver as a critical mineral plus many major global corporates production dependent on regular refined silver supplies, I think one of the former may happen sooner than later eg Govt intervention or higher margins payable by non Chinese refiners to miners...Either way the price of silver will probably still go up due to lack of supply or increased ore prices and refining costs driving price of finished silver up.
Follow the BRICS entries, especially the "partners of BRICS".
Take for example Pan America, one of the largest silver producers on the planet. A Canadian company.
Check out the countries they're operating in.
Shiz is about to go down.
When, not if, Mexico joins silver Eagles on the conservative side will be $300ea and people will be tripping over themselves.