Silver Squeeze?

joost

joost

Kingfisher
WSB is aiming for a silver squeeze but what is the bet? Buying physical is not possible with the outrageous premiums.

Is SLV the one they're trying to pump? PSLV is mentioned on Reddit but you can't buy options.
 
Last edited:
zoom

zoom

Kingfisher
Gold Member
joost said:
WSB is aiming for a silver squeeze but what is the bet? Buying physical is not possible with the outrageous premiums.

Is SLV the one they're trying to pump? PSLV is mentioned on Reddit but you can't buy options.
Click to expand...

WSB as a whole still seems to be focused on Gamestop. It seems like only a small number of WSB posters are promoting the silver squeeze. There's another subreddit which is more focused on silver- it's called /r/Wallstreetsilver

Here is what one prominent WSB poster's recommendation of what to buy:

4. TLDR, what to buy

To get the most secure, best value for your dollar in terms of silver I would personally prioritize purchases in the following order (others may prioritize differently and that's ok):

  1. Take delivery on the futures market if you are able (no premiums, but only available to large players)
  2. Purchase shares of the PSLV ETF who will then purchase 1000oz bars
  3. Purchase 1000oz bars at retail if you can find them for reasonable premiums
  4. Purchase smaller units of silver if the premiums come down to 15% or less. There are roughly 1-2 billion ounces of small unit silver in the world that don't directly impact the 1000oz bar market, but demand for them does cause premiums to soar, which can then cause mints to purchase 1000oz bars to smelt into smaller pieces. This is also the preferred option for those who are concerned with the total collapse of the fiat monetary system and other doomsday scenarios. Personally I'm just wanting honest markets and to make tendies which is why this ranks 4th on my list.
  5. Purchase other silver ETFs such as SLV. Purchasing these will at least theoretically take silver off of the LBMA, but recent disclosures from these ETFs are making them seem less trustworthy (note that there is no definitive proof of any kind of fraud from these ETFs)
  6. Riskier Alternatives: Purchasing shares of silver miners, calls on silver miners, and even calls on the other silver ETFs are all riskier bets and potentially more profitable short term. This is likely what many here at WSB are going to do
Click to expand...

Source:
 
typtre

typtre

Robin
fastandfurious said:
“It Has Become Difficult for Institutions to Buy Silver” says Rick Rule, CEO of $PSLV.

In this interview Rick Rule, president and CEO of Sprott U.S. Holdings, says that “it has become difficult for institutions to buy silver.” Six weeks ago Rick did not believe that retail investors could have that big of an effect on the silver price, but that view is beginning to change with the ongoing #SilverSqueeze push.
Click to expand...
Well, he also said that the rules of the game will likely change should they [COMEX] ever come into squeeze territory. Any demand for physical delivery in the futures market will just be turned to forced cash one way or the other.
 
Eusebius Erasmus

Eusebius Erasmus

Woodpecker
zoom

zoom

Kingfisher
Gold Member
West_001 said:
What the heck is causing this dip?
It’s a great of time for Buffalo rounds but ASE is still at $40+ ...
Click to expand...

It's party because of the threat of rising bond yields. However, to counteract rising yields the fed would need to do more quantitative easing (money printing) which leads to more inflation and a weakened dollar.

A weakened dollar is bullish for precious metals.
 
NoMoreTO

NoMoreTO

Ostrich
A good little video for those a little concerned about this weeks price decline.

One thing I find I like about these silver guys is they seem quite based. They might not be full blown RVF, but I see alot of Christians, guys who don't beleive in the media, and see the system as rigged.

A concern I do have in watching videos like this is that many of these guys pumping silver also are in the business.

 
P

Pelern

Sparrow
zoom

zoom

Kingfisher
Gold Member
NoMoreTO said:
A concern I do have in watching videos like this is that many of these guys pumping silver also are in the business.
Click to expand...

I probably should have mentioned this before but I am involved with precious metals both on a personal and professional level. I have not promoted nor will I promote my business here because I don't believe that this forum is the right venue for any commercial promotion.
 
Last edited:
Eusebius Erasmus

Eusebius Erasmus

Woodpecker
Pelern said:
I'm a little skeptical about those numbers. I'm wondering if they set the numbers high just to sell more product.

Plus if you are in a crisis and Silver/Gold aren't more valuable during that crisis, then what would be the point of stacking gold/silver?
Click to expand...
I prefer to think of these numbers as lower bounds on the per-ounce gold/silver value. I’m sure that the real value is higher during a shtf situation, meaning you’d need to hold less gold/silver. However, this is not financial advise, and I really don’t know.

Beware of economists peddling false tales. For example, see this Barron’s article:

www.barrons.com

Gold Won’t Protect You From Hyperinflation

Investors looking for protection from the next inflation spurt would be better off buying Treasury inflation-protected securities.
www.barrons.com www.barrons.com

Aside from the fact that Barron’s is published by the Dow Jones, and thus has a vested interest in you hating gold, their argument is ludicrous.

There is no proper ‘market price’ for gold or any other commodity when fiat money is worthless. This is because nobody who transacts in gold during a hyperinflation would exchange it for worthless fiat.

So any estimate of the gold price during hyperinflation is the USD price converted to bolivars at prevailing exchange rates. This tells you nothing.
 
P

Pendleton

Pelican
West_001 said:
What the heck is causing this dip?
It’s a great of time for Buffalo rounds but ASE is still at $40+ ...
Click to expand...
It seems to have been triggered by Powell's comment that he was watching the rising bond yields with interest. The market wanted him to say he was concerned and getting ready to act. The bond yields are rising because of the expectation of rising inflation so it seems odd precious metals would be getting his so hard but I tend not to look for rationality in moves over a few days.
 
MRAll134

MRAll134

Kingfisher
bucky said:
From what I can see, at this point the official spot price (25.44 USD per ounce right now) has nothing at all to do with what you'll actually pay to buy silver today.
Click to expand...
You are learning the game. The average price of a decent coin, on Ebay, is $60-80 (Cdn.). But, if you pick the right ones, they should continue to increase in price - over the long run.
 
A

aynrus

Kingfisher
In hyperinflation, gold is tied to black market USD (and there're usually capital controls to stop USD circulation, but they fail to).
If USD loses 90% of value (10X), weak currency X, such as bolivar, likely will lose as much - most likely more and a lot more, due to ripple effect from global economic problems - and you see gold just following it's USD spot price, more or less, even if transacted in bolivar. Most valuable asset during hyperinflation usually is black market cash USD/easy liquidity.
(I don't care for gold much, and I had lived through hyperinflation)
 
Eusebius Erasmus

Eusebius Erasmus

Woodpecker
aynrus said:
In hyperinflation, gold is tied to black market USD (and there're usually capital controls to stop USD circulation, but they fail to).
If USD loses 90% of value (10X), weak currency X, such as bolivar, likely will lose as much - most likely more and a lot more, due to ripple effect from global economic problems - and you see gold just following it's USD spot price, more or less, even if transacted in bolivar. Most valuable asset during hyperinflation usually is black market cash USD/easy liquidity.
(I don't care for gold much, and I had lived through hyperinflation)
Click to expand...
That’s probably true when the USD is the world’s reserve currency, but what about when the USD is inflated away and crashes?

Then there is no longer a reserve currency. Important countries do bilateral trade agreements nowadays.
 
Top