SLV prospectus amendment 3rd Feb

[AustralianAustrian]

TL;DR, indemnifies them in case where they don't have enough silver
https://www.reddit.com/r/Wallstreet...g/slv_altered_its_prospectus_on_3rd_february/

 

[Jason1]

they need togo PSLV, , Leave SLV stocks alone

 

[sgbuyer]

I still see 1000oz industrial bars on the shelf but the local dealers wants to rip us off with 9% premium.

 

[sgbuyer]

they need togo PSLV, , Leave SLV stocks alone

I’ve wondered what happens when SLV can no longer source for the 1000 oz paper silver certificates or loans. Does it mean the price of SLV will exceed the silver it claims to have?

 

[AustralianAustrian]

some more info on this from ZH https://www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-available-silver

 

[Millennial Engineer]

TL;DR, indemnifies them in case where they don't have enough silver
https://www.reddit.com/r/Wallstreet...g/slv_altered_its_prospectus_on_3rd_february/

looks like another rule change, Unlike Robinhood, SLV is getting in ahead.

TLDR: Basically if they can't source the silver them you will be suspended from cashing out for physical in your "Basket"

 

[jultorsk]

So... silver going down?

From the ^^ ZH article comments:

"The prospectus change effectively allows them to sell-short an infinite amount of paper into the reddit/public buying, thus allowing an 'untightening' for the dealers in the physical market. Then once they take price back down, close out their paper shorts, inventories will be balanced again, and they'll have a nice profit to boot. SSDD"