Something bigger and more important than the GME short squeeze is beginning: a silver squeeze. The mother of all silver squeezes. A visit to www.reddit.com/r/Wallstreetsilver may convince you to join this movement. You may change how you spend your increasingly worthless Federal Reserve Notes and, just as importantly, you may find your people.
Continue reading “Wall Street Silver and the Great 2021 Silver Squeeze”
Authored by Egon von Greyerz via GoldSwitzerland.com,
The silver price is today half of the January 1980 level. That was the peak at $50 which silver reached again 31 years later in 2011. But alas, the bullion banks, aided by the BIS (Bank for International Settlement) and central banks have again managed to push it down again and today silver is only $26.10.
The current silver price has nothing to do with supply and demand. In a real market the Price of Silver would be substantially higher. In a fake market, the manipulators have no problem to suppress the price by selling virtually unlimited fake paper silver.
Update (1100ET): For some background on just how unprecedented this weekend’s action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours):
In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.
In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend).
However, everyone we talk to is afraid of a gap up at Sunday night market open.
This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.
Our direct AP supplier informed us after close on Friday that the “US Mint will be on allocation for the remainder of Type 1” (Current Silver Eagle Design).
Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history.
And, perhaps most importantly, as QTR tweets so succinctly, “this is a red pill moment for many, and it’s beautiful.”
The thing is that no matter what happens with #SilverSqueeze, a lot of younger people are for the first time informing themselves that metals are the only true real money. That realization sticks for life, even when squeezes end. This is a red pill moment for many & its beautiful
— Quoth the Raven (@QTRResearch) January 31, 2021
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