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So apparently the geeks who ran up AMC and Gamestop to mess with the hedge fundies... Well, they're turning their attention to Silver... I've read in one article where one economist was claiming that the bullion dealers have been artificially manipulating the price to keep it low, and that if adjusted for inflation, Silver should be near $1000 instead of $25 (I don't know how much I believe that), but if this theory is even close, it sounds like Silver might be on the way up? You can't get any right now... It's all been purchased!

I'm killing myself, because RIGHT before all this noise about Silver, I was literally about to press "purchase" on 100oz of silver coin from JM Bullion for $28.50/oz (that included taxes, everything). I passed on that because my local dealer had 60oz of coin in stock and was charging me $28 flat per oz... I passed on that earlier in the day because I felt it was too high. Well, now my local guy is out, JM Bullion is out, and I'd happily pay $29/oz for 100 oz in physical coins... Damn!

https://www.bloomberg.com/news/arti...-grind-to-halt-as-reddit-horde-moves-to-coins

It should be noted, that if Silver does go up to $1000, I'll be paying off my house with the silver I already have on hand... :)
 

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I read about this on zero hedge this morning. Monday should be interesting.
 

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I figured that all out on Friday with almost a 10% spike in silver price and gold was down. I assumed the game stop guys were buying it. And JM Buillion is down for maintenance now..

I was waiting for it to creep down to 23-24 before I bothered buying any..
 

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Discussion Starter · #6 ·
I figured that all out on Friday with almost a 10% spike in silver price and gold was down. I assumed the game stop guys were buying it. And JM Buillion is down for maintenance now..

I was waiting for it to creep down to 23-24 before I bothered buying any..
So do you think the price will tank or soar? What's the prediction? I was under the impression the price was going to soar... I've had a few friends speculate it'll get to $50. I have no clue tho.
 

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So do you think the price will tank or soar? What's the prediction? I was under the impression the price was going to soar... I've had a few friends speculate it'll get to $50. I have no clue tho.
I have a feeling it will go up a bit... but no reason to expect it to climb to $50.. if the silver were going to $50 the gold should be skyrocketing too. it isn't.

I suspect there will be silver buying opportunities around memorial day, but who knows? I did sell some on the top of the last spike (silver @ 28.90 and gold was @ 2069) so you can see the silver -gold gap is bit out of whack, which to me either means gold should rise or silver should drop..
 

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I heard that the silver buzz was fake, trying to get the people buying GME to swap to something else so the shorties could get out sooner rather than later.
If you actually read the reddit posts about GME, those people are both crazy and committed. They claim that the shorts on GME are at 120-140% right now. Meaning all they have to do is sit on the stock for as long as they darn well please, and the hedge funders loose tens of billions more, and when they all decide it's time to sell, they all get way more than they paid because the shorties will have to buy up just about everything to give back the stocks they borrowed.

You've got folks on that reddit section openly stating that they are willing to hold on to their stocks, potentially passing up life-changing money, because they want others who maybe less fortunate and can really make a difference in their lives by selling, to go ahead and sell.
They are basically using this as a safety net for "the little guy", when the truth is they're all little guys acting as a humongous guy. They are now, effectively, the largest hedge fund the world has ever seen, and democratically controlled pitbulls about it.
The big wigs are reeling, and I love watching it.
 

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I have a feeling it will go up a bit... but no reason to expect it to climb to $50.. if the silver were going to $50 the gold should be skyrocketing too. it isn't.

I suspect there will be silver buying opportunities around memorial day, but who knows? I did sell some on the top of the last spike (silver @ 28.90 and gold was @ 2069) so you can see the silver -gold gap is bit out of whack, which to me either means gold should rise or silver should drop..
One way or another, silver was bound to increase, and close the current gap somewhat between it and gold. In such a circumstance, gold could remain static while silver rises. They both rise and fall together in reaction to markets and inflation. But a shortage specifically of silver could leave it climbing alone. 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. I have no predictions or bullish prophecy about this current buzz, but I'm hanging onto mine. The current valuation of silver cannot last considering its consumption in industrial use and increasing rarity.
 

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Silver future is up 10% at that a time. Golly. Wonder why.
 

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I hope they smoke'em. Everyone knows SLV can't cover the shares sold. May the "little guys" shed more light on the corrupt bastards.
I have mixed feelings about this. On one hand, go Average Joe - good for you! On the other, if this stuff continues to spread and destabilize the markets this year could make 2020 look like the "good ole days" ... I am concerned about an economic collapse our country cannot handle in the wake of 2020.
 

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I think the Biden administration would cherish it.
The plan is to get as many relying on the government teat as they can.
A collapse would do it...for a while.
 

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As far as silver being poised for a large increase I don't see it happening, at least not anytime soon. There are tons of large silver mines that aren't even extracting silver right now and have been closed for decades. I would imagine if the demand was high they would start mining it again. In the event of the destabilization of the US dollar then I would imagine silver would have a very large increase, but not as much as gold. Of course with the recent stock market games being played who knows what to expect. Any stock can be artificially lowered for the sake of making large profits. It's nothing new. The only difference is now regular people have so much information available to them in real time and they're starting to watch these things very closely.
 

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I am just waiting for it to hit $30/oz so I can sell some of my 10 oz bars back to JmBullion.... and then buy em back when they get back around $23... and if market crashes, I still have plenty.
 

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I am just waiting for it to hit $30/oz so I can sell some of my 10 oz bars back to JmBullion.... and then buy em back when they get back around $23... and if market crashes, I still have plenty.
My thinking as well. Not so much to sell any, but let it get down to about $23 - $24 and buy more.
 

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It seems to be up about 11% today. Not as large and increase as I would have thought given all the “news”.
 
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