Run on Silver May Collapse Markets Within Weeks

[oyarde]

Certainly true that 1800 gold seems cheap , but like 27 1/2 silver you cant get any for that .

 

[oyarde]

reached as high as 27.91 so far today . I was hoping for the push over 28

 

[Krugminator2]

I bought AGQ today. Will exit if it trades much below the low of the day. Don't love the trade because everyone else is looking at it but worth a try. One of these times likely to catch a nice trend in silver.

 

[Madison320]

[FONT="]People are over thinking the correction in gold and silver. The first trillion plus spending bill was signed into law on March 27 with silver a shade under $15. Another 900 billion in spending was approved on December 27 with silver at $25. [/FONT][FONT="]Much of the appropriations have yet to be spent. [/FONT][FONT="] The House is set to vote on the next on 1.9 trillion bill on Friday. Gold and Silver have priced in austerity that has zero change under a socialist regime. [/FONT]

March 27 of what year? We've had trillion plus spending bills since 2009 haven't we?

Not sure your point (maybe we agree) but the I think we've borrowed about 20 trillion and printed 6 trillion when silver was $15 back around 2008. Since we increased the money supply by 7 times silver ought to be roughly $100 an ounce.

 

[Invisible Man]

Since we increased the money supply by 7 times silver ought to be roughly $100 an ounce.

Are you talking about the M1 money supply?

 

[Madison320]

Are you talking about the M1 money supply?

M0 or monetary base which as far as I know is virtually the same as the Fed's balance sheet.

I think M0 is the most important because it's the base that drives all the other money supply measurements.

 

[oyarde]

Tomorrow is key . Went through 28 today . If it closes over 28 tomorrow in the next couple weeks is a good shot to go through 29 and hit 30. The real price of silver is reflected right now in silver eagle premiums which is 7 1/2 FRN's over spot wholesale to dealers and ten percent added for retail brings it just over 39 ea , Proofs 62 and 69ish buy and sell .

 

[Meritocrat]

Madison, On March 27, 2020 a 900 billion appropriations bill was passed. That was the highest spending bill ever in nominal terms. Silver nearly doubled and gold hit an all time high. Since that time both the metals pulled back. Many people, myself included are a little baffled by the extent and duration of the pull back. However it does makes sense. A lot of money appropriated has yet to be spent. When the first ever trillion plus spending bill is passed this year (we should see this in early March) the bottom of the correction will be put in.

AND

The 8 investment houses and bullion banks short nearly half of all silver, platinum and gold traded on the Comex will no longer be able to defend their positions. Silver is likely to be squeezed beyond an all time high, along with platinum and gold.

By the way, I have called the bottom of gold in 2017 and the breakout of gold in 2019. You can search my name Charles Stampul on Linkedin or Facebook to see.

I see the key date for a short squeeze as February 26, because this is when the House is scheduled to vote on Biden's 1.9 package. If the House is more or less on board with the Senates bill, and it looks like the bill will get done soon, ITS ON for the following Monday. I would not be surprised to see an all time high in silver on Monday March 1 and $100 by the end of the month.

Krugminator2, I think you are good with AGQ. Although WallStreet Silver discourages people from buying any security other than PSLV, because only PSLV holds all the silver they say they do, I think any silver equity helps the cause. I personally will never buy an ETF because you are essentially paying to hold them and this eats away the gain over time. They are only good for a very short term trade.

 

[Krugminator2]

Silver not looking so hot but still have it. Bought a bunch of soybeans today.

 

[Madison320]

Madison, On March 27, 2020 a 900 billion appropriations bill was passed. That was the highest spending bill ever in nominal terms. Silver nearly doubled and gold hit an all time high. Since that time both the metals pulled back. Many people, myself included are a little baffled by the extent and duration of the pull back. However it does makes sense. A lot of money appropriated has yet to be spent. When the first ever trillion plus spending bill is passed this year (we should see this in early March) the bottom of the correction will be put in.

AND

The 8 investment houses and bullion banks short nearly half of all silver, platinum and gold traded on the Comex will no longer be able to defend their positions. Silver is likely to be squeezed beyond an all time high, along with platinum and gold.

By the way, I have called the bottom of gold in 2017 and the breakout of gold in 2019. You can search my name Charles Stampul on Linkedin or Facebook to see.

I see the key date for a short squeeze as February 26, because this is when the House is scheduled to vote on Biden's 1.9 package. If the House is more or less on board with the Senates bill, and it looks like the bill will get done soon, ITS ON for the following Monday. I would not be surprised to see an all time high in silver on Monday March 1 and $100 by the end of the month.

Krugminator2, I think you are good with AGQ. Although WallStreet Silver discourages people from buying any security other than PSLV, because only PSLV holds all the silver they say they do, I think any silver equity helps the cause. I personally will never buy an ETF because you are essentially paying to hold them and this eats away the gain over time. They are only good for a very short term trade.

I thought Obama's first spending bill was higher but you're probably right. It's hard for me to tell when they pass bills, it sounded like they passed the 1.9 bill like 5 times already when you read the headlines.

What's the difference between PSLV and SLV?

 

[oyarde]

I thought Obama's first spending bill was higher but you're probably right. It's hard for me to tell when they pass bills, it sounded like they passed the 1.9 bill like 5 times already when you read the headlines.

What's the difference between PSLV and SLV?

I dont buy any of these but many silver funds do not back what they have out with actual silver.

 

[Meritocrat]

PSLV is the trust owned managed by Eric Sprott. It documents and verifies the silver it holds, and doesn't play any games. There is strong evidence that SLV does not own the silver they claim and they play the Comex in both directions. So if you want to help effect a short squeeze, you want to buy PSLV. Your purchase of PSLV will result in silver being taken off the market.

I thought Obama's first spending bill was higher but you're probably right. It's hard for me to tell when they pass bills, it sounded like they passed the 1.9 bill like 5 times already when you read the headlines.

What's the difference between PSLV and SLV?

 

[oyarde]

Last night and today silver has fluctuated between 27.30 and 28.07 . Still has a chance to close at 28.

 

[oyarde]

Starting to look promising , still over 28 , more buyers than sellers at 28 is a good sign . If that paper price pushes 30 that will put the real silver price well over 40.

 

[Meritocrat]

[FONT=&quot]"House Democrats passed their sweeping $1.9 trillion coronavirus aid package in a party-line vote early Saturday morning...[/FONT][FONT=&quot]The relief package now heads to the Senate, where Democrats are expected to amend it next week and send it back to the House for approval before unemployment insurance benefits expire on March 14."[/FONT]

Silver Comex Delivery Update

 

[Krugminator2]

I stopped out of both silver and soybeans. Will keep on the radar because think one day silver has a nice move left.

 

[oyarde]

I stopped out of both silver and soybeans. Will keep on the radar because think one day silver has a nice move left.

I'm thinking I'd have waited a couple days . Sun night through Tue it is liable to pick back up , but who knows .

 

[Meritocrat]

Anyone who was behind the Ron Paul revolution or end the fed should be all over this push to squeeze silver. This is not just about making money, though you will make money if you buy and hold silver. Wall Street Silver is gaining a thousand members every day and they are set to run #silversqueeze billboards across the country.

 

[GlennwaldSnowdenAssanged]

Anyone who was behind the Ron Paul revolution or end the fed should be all over this push to squeeze silver. This is not just about making money, though you will make money if you buy and hold silver. Wall Street Silver is gaining a thousand members every day and they are set to run #silversqueeze billboards across the country.

Until they are deemed terrorists.

 

[oyarde]

Anyone who was behind the Ron Paul revolution or end the fed should be all over this push to squeeze silver. This is not just about making money, though you will make money if you buy and hold silver. Wall Street Silver is gaining a thousand members every day and they are set to run #silversqueeze billboards across the country.

Physical supplies are dried up past the point I've seen it since 1964 when I started on silver.