Anyone here who thinks that silver squeeze is a distraction and the real deal is GME/AMC doesn't understand the economy or the financial system.
I understand the frustration with Wall Street that the folks on reddit feel, but GME is just a stock of a company that was probably going to fail eventually even without the lockdown. If a hedge fund shorts it, then it helps price discovery. If the hedge fund incorrectly shorts it and the stock goes up, then they'll suffer massive losses. It's only when the hedge fund gets bailed out after they screw up that everyone feels resentful. And who enables the bailouts? Central banks, which keep interest rates artificially low and keep pumping liquidity into the economy to screw over hard working savers.
Silver squeeze right now is the clearest way to expose Central Bank manipulation. A massive worldwide movement to remove silver from the markets (either by buying PSLV or physical silver) will drain the coffers of the silver exchange, leading to liquidation of the 50-100x leveraged short position in silver by the major banks. Following that, we may (not guaranteed) have a dramatic revaluation in gold prices as faith in the paper exchange system is destroyed. After that, we'll have true price discovery in previous metals and the people can finally realize the degree to which Central Banks have been stealing money from hard working people via inflation. They print money and give it away at rock bottom interest rates to Wall Street insiders, eventually causing rising prices throughout the economy, especially in assets.
GME may end up accomplishing this, but only if the GME short position is systemically important enough to cause a cascade of failures. Problem is that will lead to even more money printing BEFORE the people wake up to the truth. Silver squeeze is much better because it's an arrow aimed at the heart of the system, which is really what people are upset at. 99% of people had no idea citadel existed before this whole episode, but guaranteed they were suffering from the rot in society caused by stealing time and energy from savers and redistributing it to gamblers on Wall Street.
If not for Central Banks, many of these hedge funds wouldn't exist in the first place and/or would be forced to be much more conservative in their bets. Without Central Banks, a good chunk of Wall Street and the big banks wouldn't exist either.
However, because we have crap financial education, no one is ever taught the reality about Central Banks and the deleterious impact it has on society. Instead their ire is mistakenly directed at Wall Street and hedge funds and short sellers - these are all players that are rationally trying to make money off a corrupt system. Don't hate the player, hate the game.
Strongly suggest watching the following and spreading it whenever someone gets worked up over GME but you suspect it's due to larger frustrations with the economy and a rigged system. He articulates the current situation and the larger context better than most others I've seen so far.
And this is in response to an earlier posted that reproduced the reddit thread hating on the silver squeeze.
ftx.com
www.nasdaq.com
