lookin next to tuesday 22nd oct BRICS+ meeting....russia´s state fund plans buying gold silver platinum and palladium in order to improve their reserves (recent Jerusalem Post article). If other *waiting list countries*) will follow russia´s calling for physical silver , than the short bullion banks are going to get really in trouble. save the date 22-24 oct Brics+ meeting what will happened announcements there.
This could be an offer to Russian miners to sell to the state. Sanctions might have brought problems. Rick Rule believes they sold their Platinum for cheap as they needed war money (I doubt that, but Rick should be informed). Evo Morales did that with gold many years ago - he offered Bolivian mineros fair market prices.
And of course it could be a warning to the world that all pm will rise. Maybe a "motivation" for BRIICS members to get the needed stuff. I do not expect the UNIT to get presented, we will see.
What do you think this week David - Lower or Higher?? It seems the silver smack downs are getting smaller and less effective as time passes as it bounces back to where it was much more quicker than say one or two months ago.
If $32.50 was the line in the sand for shorts, you would think those banks and funds would be working together to write this off or get out of their position?? What could they do?? Buffett's off loading of JPM stocks timing was very interesting this past week.
1. We know from Mr. Chrisitian who said the quiet part out loud that one of the big shorts (no pun intended) is SLV who sells the "silver" they have short as soon as they get it (meaning "retail" taking the bait). It's a genius strategy since most of the CTA's mean SLV when they say "silver". And they can control physical withdrawals. When SLV stops physical withdrawals that's the point when SHTF.
2. One thing to watch is the premium in Shanghai over London/NY. This kind of no-brainer Arb trade with 10-15% in risk-free profit does not go unnoticed. It's also a great hedge against a falling Yuan of course with the commies rolling out their monetary bazookas. If you get it for free - all the better.
We will see. Given the physical shortage it is becoming increasingly difficult to drive down the digital price where buyers scoop up the metal. Bullion banks increasingly wedged into a corner.
lookin next to tuesday 22nd oct BRICS+ meeting....russia´s state fund plans buying gold silver platinum and palladium in order to improve their reserves (recent Jerusalem Post article). If other *waiting list countries*) will follow russia´s calling for physical silver , than the short bullion banks are going to get really in trouble. save the date 22-24 oct Brics+ meeting what will happened announcements there.
This could be an offer to Russian miners to sell to the state. Sanctions might have brought problems. Rick Rule believes they sold their Platinum for cheap as they needed war money (I doubt that, but Rick should be informed). Evo Morales did that with gold many years ago - he offered Bolivian mineros fair market prices.
And of course it could be a warning to the world that all pm will rise. Maybe a "motivation" for BRIICS members to get the needed stuff. I do not expect the UNIT to get presented, we will see.
What do you think this week David - Lower or Higher?? It seems the silver smack downs are getting smaller and less effective as time passes as it bounces back to where it was much more quicker than say one or two months ago.
If $32.50 was the line in the sand for shorts, you would think those banks and funds would be working together to write this off or get out of their position?? What could they do?? Buffett's off loading of JPM stocks timing was very interesting this past week.
Great article!!!
Thank you!!!
You bet Dimitri - thanks for your note!
Old enough to have seen this before. And I'm buying like a mad woman at an all you can eat buffet. Especially as an American.
1. We know from Mr. Chrisitian who said the quiet part out loud that one of the big shorts (no pun intended) is SLV who sells the "silver" they have short as soon as they get it (meaning "retail" taking the bait). It's a genius strategy since most of the CTA's mean SLV when they say "silver". And they can control physical withdrawals. When SLV stops physical withdrawals that's the point when SHTF.
2. One thing to watch is the premium in Shanghai over London/NY. This kind of no-brainer Arb trade with 10-15% in risk-free profit does not go unnoticed. It's also a great hedge against a falling Yuan of course with the commies rolling out their monetary bazookas. If you get it for free - all the better.
It was Jeff Currie who said the ETFs short their shareholder silver into the market. https://jensendavid.substack.com/p/silver-and-jeff-curries-departure
Only large 'qualified participants' can withdraw silver from the ETFs. They are the same bullion banks that have been shorting the metal all along.
Good article. I’m curious if even if they can defy the natural laws of supply and demand indefinitely.
Not indefinitely.
Get away from the edge Little Johnny, you might get sprayed with molten metal when this thing erupts! (Hysterical laughter fades into the darkness)
When will we see the price get smashed? Can they do it this time?
We will see. Given the physical shortage it is becoming increasingly difficult to drive down the digital price where buyers scoop up the metal. Bullion banks increasingly wedged into a corner.