![]() ![]() The asset managers who operate silver-backed exchange-traded products (ETPs) are already way ahead of them and can change the rules legally on them.They lack the capital to bring the commodity futures market to heel.I’ve been taking on the suits for years-and kicking ass.Īnd this time, I don’t see the WSB, social media, and Robinhood succeeding on the silver shorts for the following reasons (and I published this previously to my paying subscribers): Regardless of if it makes you popular or not.Īnd I’m cheering for the retail crew. As they’re nothing more than eunuchs parading around as modern corporate citizens. They went to university (most likely were part of a frat to feel cool), pretend to care about society and the environment but drive Ford Raptors to pretend to be masculine because they lost their masculinity long ago. Ironically, most suits (and in a large part their trust fund children) are evolving into Champagne Socialists which I equally dislike. Suits were only worn at weddings and funerals where I grew up. I was lucky, I had tough older brothers that paved the way for me in a neighborhood of majority immigrants (like my parents) where literally it was dog eat dog world. I come from an amazing family that had a lot of love and little else financially. ![]() I’m born and raised in East Vancouver of Dalmatian heritage. Just like the GameStop squeeze that’s been grabbing all the headlines the last few weeks, this attempt to ‘liberate’ the silver markets isn’t about fundamentals, profitability, or arbitrage.įew dislike the suits more than me. ![]() I always buy my metals during Echo’s, which I’ve talked about in the past. But when it Busts and there’s no bid, it collapses just as hard… When silver Booms, it moves fast and swift. I like silver just like any other resource investor… but I like gold more. The booms and busts of silver have been truly exceptional, putting the testicular fortitude of even the strongest silver bugs to the test. Silver has no shortage of war and fortune making stories…įrom the days of the Hunt Brothers cornering the silver market… to Warren Buffet buying 112 million ounces of silver calling it “for investment purposes” rather than outright cornering… There’s certainly an argument to be made that silver is a precious metal dressed up and partying at night… and a base metal in the morning with a vicious precious metal hangover from the activities the night before. Nearly 60% of silver is used in industrial applications, with the residual 40% used in jewelry, silverware, and silver bullion. Silver is a unique market because it’s both a store of value and an industrial metal. Sounds great-but I have some serious reservations. “New silver traders are about to moonshot the price and stick it to the hedge funds and banks.”.You will likely find the top posts, tweets, and news stories that confirm what you want to hear: It’s a textbook example of a crowd experiencing FOMO with a major injection.īut I want to warn everyone of the dangers of confirmation bias – and this is a perfect example. But it does not mean that silver is about to shoot up to $100.Most dealers are telling me that they are out of stock.Īnd the Vancouver bullion exchange which is on the main floor of our office building had a lineup down the block like it was an Apple store during iPhone launch day. With that, it has come a major spike in interest for all things silver – miners and physical especially. Recently, a few Twitter users created a silver version of the Reddit post, which got up-voted (ranked higher so the community could see it) to the point that it became major news next to the GameStop post. If you need a primer of what happened there and how it started, you can watch my video explanation here. I can’t believe how many text messages I’ve received in the past week regarding Reddit and the GameStop and AMC short squeezes. Headlines this week were dominated by manic retail investing inspired by the WallStreetBets (WSB) subreddit. ![]()
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