WSB is more sophisticated than you give them credit for, they are specifically saying NOT to buy SLV because it is a manipulated paper asset with a minimum demand level of 500k ounces, lol.

It doesnt change anything right ?
Slv will go up regardless , if they can move the market.

Sure SLV will go up, but PSLV, SILG, and AG will go up more.

Ah ok , yes

Okay this is completely back in line. Didn't last very long But some smart arbs made a pretty nice score last night.

Sitfolio exploding, so many names +30% pre market.

Literally cannot wait to start shorting SLV again. Back to watching the technicals I guess.

Posted this in the wrong thread:

Anybody catch the interview on CNBC with the GS head of commodity research talking about silver? They were talking about the silver "squeeze" and how it's impossible. One of the reasons he gave was that the ETFs (SLV) are the shorts in the CMX market as they buy the physical and then short the futures to hedge their holdings. How does this make any sense? If you hedge your physical there is no price exposure. Isn't that the opposite of the purpose of SLV? Maybe for a very short time if SLV wants to increase their physical holdings and issue more shares they would hedge for very short time in between buying the metal and issuing new shares but that was not what he was alluding to. He just said "the ETFs are the shorts in the market". What in the world does that mean?

I certainly don't understand all of the intricacies of the commodities markets and/or ETFs, but what I've long read/heard about SLV are a couple of allegations that may (or may not) be related:

1. That JPM, the trustee of SLV, was short silver for a long time and, along with other commercial entities, manipulated the spot price of silver. They're supposedly no longer short.

2. That JPM hypothecated much/all of the silver they were supposed to be holding as trustee of SLV, so they were not really fulfilling their obligations as trustee and so the shareholders of SLV may be putting themselves at additional risk (because there was nothing actually backing their investment).

JMbullion is currently out of stock of 100oz bars which is their largest offering. The cheapest ones on offer from "any mint in any condition" go for $3172. Now SLV would have us believe the spot price for Silver is currently only $2703 per 100oz. Now can anyone explain to me why some whale doesn't take 500k ounce physical delivery from SLV and get a 17.35% ROI by offloading it on all these out of stock bullion dealers? I know, let's be conservative and cut that ROI in half due to security costs and increased supply to meet demand, that is still a practically guaranteed 8.67% ROI, why wouldn't someone want to do this, is it the fear of getting "JFK'ed?"

it might happen soon, very soon.

Check the website again. $3172 is the price they SELL it for. They buy it for spot.

larger bars are commanding a higher premium right now in this market, which is the opposite of how that trade usually works. It does seem like something peculiar is happening in the precious metal markets right now.

Kind of a derail, but I don't want to make a new thread:

Does anyone remember some scheme I heard of many years ago where people would order bulk coins from the US Mint (or maybe some other outfit) and remove the ones that had a high silver composition? So you could order like $1,000 in dimes and the mint would deliver them to you free of charge, and then you'd pluck out the mercury heads, which were 90% silver. Or maybe it was some type of nickels you'd fish out. Apparently this was worthwhile enough that people bothered to do it. Does anyone know what I'm talking about, and could explain or link to a synopsis of what the scheme was?

It's not a scheme, people go to banks and ask for coins, then they search the coins looking for old ones that have metal content in them, then they go to another bank to drop off the coins they didn't want. 30 years ago there were a lot more coins with metal content in them then there are now. Right now it's just a hobby some people do, but nobody is making boatloads looking for a needle in a haystack.

That sounds very much like a scheme. But did I imagine the part about coins being shipped at no cost (apart from the face value of the coins) to people's houses? And if someone did this in the '90s, could they make like $5 an hour? Way more? Way less?

I don't think they are shipped to the individual but some banks will order the coins for customers for free and let them come and pick the coins up from the bank branch.

When I was a kid my friend and I would go to the bank and get as many $10 rolls of half dollars as we had cash. We'd cull out the 1969-prior dates, re roll the cupric halves and continue the process. Nobody said anything to us.

I don't know what to make of the silver market other than it is almost certainly manipulated.

So I've been watching the silver ETFs and noticed a pattern that off hours they perform fairly well. But from market open to close they typically under perform their off hours performance.

Based on a chart from goldchartsrus.com with 1970 normalized at 1, after-hours silver is currently at 226, and market intraday silver is at 0.25, a performance difference of 904x. (annualized = 15%) Since 2006, the gain is even more extreme, when after-hours silver was 10 and intraday silver was 2. (annualized = 45%)

You could be referring to when you could buy $1 coins directly from the mint and they'd ship them to you at no cost. They were pushing to get these coins into circulation. It then turned into a credit card mileage hack and people were buying thousands to get cc miles. Eventually, it was shut down.

https://www.creditcards.com/credit-c...er-miles-1263/

About how often did you pull a valuable one? Then I assume you'd sell them to coin shops for like $2 or something?

There's a similar phenomenon, allegedly, in the stock market as a whole. I don't understand how it could be possible, and how there wouldn't be all kinds of ETFs and automated services that just buy the close and sell the open, but I've seen plenty of graphs that look like this:


Thanks. That may have been what I was remembering.

IIRC when we started out it was almost one per roll. The rate gradually declined to a point where we just gave up. At the time I think 90% silver coins were in the 400-600% range, and 40% silver coins around 200-250%. This was before Hunt's short squeeze, so we lost out on a lot of money (at least for a kid).

I did some research years ago myself, and S&P showed a similar pattern. It makes some sense that gains should be day over day, and not within a single trading session. But 900x for silver seems crazy to me.

nvm googled

Silver up 3.54% today, seems like a good day for a bump. This thread also lacks the current copypasta making the rounds of the internet.



SILVER IS THE FINANCIAL LYNCHPIN OF THE ENTIRE FINANCIAL SYSTEM

Many years ago, the money changers realized that national debt levels and the levels of money printing they were engaging in were unsustainable with any kind of reasonable bond yield levels the market could sustain. The interest on 1 trillion debt at 17 or 18% interest as occurred in the 1980s would be absolutely impossible to sustain at current debt levels of 28 trillion but with 30 year bond yields at 2%, they can kick the can down the road for a few more years.

To keep bond yields low, the money changers also needed to trick the markets into thinking inflation is LOWER than the bond yields they require as nobody would buy 2% yielding bonds if inflation was obviously 5%.

The learned that they could drag the entire commodities market lower by controlling the price of precious metals, the price of wheat for example was dragged into a brutal bear market for the last 10 years at the same time as the gold bear market.

They also learned that the silver market was much smaller than the gold market, no nations used it for monetary purposes, and very few had strategic stockpiles of the metal. By suppressing and controlling the tiny 20 billion loonie silver market with 5 trillion dollars of notional derivatives trading, they could force gold down which is always tied in a ratio range with silver. If you'll notice, when the gold and silver ratio are at the highest peaks, the price of the metals are near their lowest troughs.
By controlling silver, they could force gold to act in turn which is used as an inflation signal for the broader commodities market and supported the continuation of artificially low bond yields and an impossibly high level of national debt.

Tl;dr As the silver suppression ponzi scheme unravels, bond yields will spike, taking down the financial system.

I like silver