Watching GameStop was fun. But this will be even better!

[Inor]

The rumors on the interwebs tonight are the Reddit guys that blew up GameStop and AMC movies last week and the week before have turned their sights on the silver markets. I do not know how accurate this is. But...

If these guys really are successful at putting a short squeeze on the paper silver market by demanding physical silver, this could be REALLY fun to watch! Again, I do not know if they have the cash behind them to really be successful, but this could absolutely destroy JP Morgan Chase and others.

The first video is by a group that is somewhat on the conspiratorial side.


https://www.youtube.com/watch?v=GrCHiM8Y3Xw

[Inor]

The second, however, is by Kitco. If you are not familiar with Kitco, they are one of the most respected dealers in physical PMs.


https://www.youtube.com/watch?v=V0hUYCVIl34

Keep an eye on silver the next couple weeks. This could be real fun to watch.

[StratBastard]

One way or another, silver was bound to skyrocket. We only pull about 850,000 ounces out of the ground globally each year... and most all of it is earmarked for industrial usage ahead of time. The valuation ration of silver to gold... sometimes 80:1... is historically absurd. 15:1 (on average, allowing for fluctuations) had been more typical. The industries consuming silver (un-recoverably) photovoltaics, electronics, etc... continue to increase. yet the value per ounce has remained strangely held down despite the demand vs. supply. Much manipulation of silver in the market: for every real ounce of silver, there are as much as 100 ounces represented in paper instruments. I read comments from mine owners who had considered NOT selling their silver until the price came up. When we add in the printing of US currency 24/7, it just could be the breaking point. Hanging onto mine.

[StratBastard]

Oh yeah... and I will recommend APMEX as well. Not only have I purchased, but sold to them as well. Never one single issue. One should also consider the flood of fakes coming out of China: Morgan dollars, bars, and even gold coin copies. Reputable dealers scan their coins for fakes. There's a local guy here who has a scanner in his shop. I bought 9 Gold Eagles from him over a two year period. When I sold them to APMEX, every one was good. Find a shop which has electronic scanners and Phisch ringers. Can't go wrong.

[red442joe]

Tagged

Joe

[juskom95]

The rumors on the interwebs tonight are the Reddit guys that blew up GameStop and AMC movies last week and the week before have turned their sights on the silver markets. I do not know how accurate this is. But...

If these guys really are successful at putting a short squeeze on the paper silver market by demanding physical silver, this could be REALLY fun to watch! Again, I do not know if they have the cash behind them to really be successful, but this could absolutely destroy JP Morgan Chase and others.

The first video is by a group that is somewhat on the conspiratorial side.


https://www.youtube.com/watch?v=GrCHiM8Y3Xw

It wouldn't take much individual cash to squeeze the paper precious medals market. Silver isn't outside the expense of the average person, and it only takes a little bit to buy into it.

[Piratesailor]

Silver is up 11% on the spot market.

[Mister Mills]

I am pretty ignorant of the precious metals markets, but I remember the Hunt brothers went broke, trying to play the market for chumps.

The current silver market is a very treacherous place, and I would not get near silver or gold. I would wait for it to crash, because the prices are speculative.

The market is being played, like a chess board, because silver just isn’t worth the price asked for it.

[Jester-ND]

I sold on the hi of 30.20 amazingly enough... just waiting for it to trickle back down and erase the $5/oz premiums they asking @ JM... sitting on their cash for now

[Jester-ND]

stupid premiums are still $5+ on silver.. Spot price down $5/oz and I still can't break even. took my silver cash and bought back into Gold... no regrets..

[Jester-ND]

4 months later and not much has changed... hope these premiums aren't here to stay!

[Inor]

4 months later and not much has changed... hope these premiums aren't here to stay!

Yeah... I sure blew the call on that one didn't I? That is why you should never take investment advice from me...

[Jester-ND]

Yeah... I sure blew the call on that one didn't I? That is why you should never take investment advice from me...

I was moreso responding to myself waiting for premiums to drop so I could buy back in..... seems like it's all sitting in the doldrums...... one would thing that prices would be doing something...... but nada... stagnant