A really bad sign or a really good opportunity?

[StratBastard]

If you saw the video above, here's how those banks shorting silver to keep the price down burned themselves.

Silver Prices Surge: Banks Face Billion-Dollar Losses

Silver prices soared by over 6% yesterday, breaking through the crucial $33.6 per ounce mark and sending shockwaves through global markets. The surge has put five major U.S. banks at risk of massive losses, potentially in the billions, due to their heavy short positions in the precious metal.

According to data from the Commodities Futures Trading Commission (CFTC), the open interest in silver futures contracts has reached a staggering 141,580 contracts, each representing 5,000 ounces of silver. This translates to a total of 707,900,000 ounces – nearly equivalent to a year's worth of global silver production.

With silver prices surging by $1.84 per ounce, these short positions are now underwater by an estimated $1.3 billion. Sources close to the matter report that gold futures are experiencing a similar trend, with paper shorts down over $1.5 billion.

The scale of this short position is particularly alarming given that it is reportedly concentrated among just five U.S. banks. Industry analysts are questioning how such a small group of institutions could take on a short position representing an entire year's worth of global silver mining output.

https://www.msn.com/en-us/money/mark...67833c5d&ei=36

[StratBastard]

Silver keeps spiking to $34.23 today.

[Jester-ND]

only took 2 weeks from when I said it should be at $35... To jump $4.. Hold onto your butts!

[Inor]

I thought it would happen at last year's BRICS meeting, but it did happen this year. The U.S. Dollar is now fully within the sights of the BRICS. Today they announced their replacement for the Swift system for settling transactions. Not only is it MUCH cheaper, it is also much faster (almost instantaneous vs 2-3 days with Swift), it is also not beholden to the political whims of Washington. This is going to be really bad for most Americans, but if you have been paying attention and positioning yourself accordingly, you stand to make a LOT of money!

[StratBastard]

I thought it would happen at last year's BRICS meeting, but it did happen this year. The U.S. Dollar is now fully within the sights of the BRICS. Today they announced their replacement for the Swift system for settling transactions. Not only is it MUCH cheaper, it is also much faster (almost instantaneous vs 2-3 days with Swift), it is also not beholden to the political whims of Washington. This is going to be really bad for most Americans, but if you have been paying attention and positioning yourself accordingly, you stand to make a LOT of money!

50 years was a good run, but the days of holding the planet hostage to the dollar are ending. Might be some are pissed off and butthurt about it too, wanting some payback. Which is why I have been diversifying away from the dollar for a few years now. I want to hold assets, and just enough dollars to make do when the ATM's stop spitting money and the bank doors are locked.

[MountainGirl]

50 years was a good run, but the days of holding the planet hostage to the dollar are ending. Might be some are pissed off and butthurt about it too, wanting some payback. Which is why I have been diversifying away from the dollar for a few years now. I want to hold assets, and just enough dollars to make do when the ATM's stop spitting money and the bank doors are locked.

So... WAY down the road, after the dust settles, if you survive, where are y'all gonna physically tote your stacks to rejoin the game?

Just FYI, Texas, in its forward thinking, passed a law last year that requires State agencies to accept presented PMs as legal tender.

[StratBastard]

So... WAY down the road, after the dust settles, if you survive, where are y'all gonna physically tote your stacks to rejoin the game?

Just FYI, Texas, in its forward thinking, passed a law last year that requires State agencies to accept presented PMs as legal tender.

If I went anywhere, it would be Texas. My daughter lives and works in Austin.