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 Replies: 71 / Views: 6,044 |
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Bedrock of the Community
United States
36738 Posts |
kbbpll do some digging on J.P Morgan Chase and see how they are involved in the silver market. There is a guy on YouTube named Bix Weir who has spent many years studying silver and why the price has been held down for over a century.
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Pillar of the Community
 United States
6495 Posts |
kbb, I haven't studied this particular example. But if naked shorts were involved, you can get a nuclear-grade squeeze compared to an ordinary short squeeze.
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Valued Member
United States
313 Posts |
kbbpll-
That bull craze in silver looks like it started Oct 2008 at about $10, peaked near $50 April 2011 an completely unwound to the low teens Nov 2015. Looks like just a generic bull and bear run pretty much correlated with a similar rally and decline in gold. Gold bottomed in Dec 2015 about $1050.
The Hunt Bro thing is pretty well documented. He went long a lot of contracts. He had the margin. The exchange raised margin requirements to dampen speculation. I would guess most of the floor traders were short and faced ruin. Exchange then changed the rules to liquidationg positions ONLY and that was that.
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Pillar of the Community
United States
6495 Posts |
Quote:
Exchange then changed the rules to liquidationg positions ONLY and that was that. A pre-GameStop GameStop. =P |
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Valued Member
United States
313 Posts |
IOW, if given a gift horse, take it. Don't wait for the kick in the teeth.
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Valued Member
United States
313 Posts |
When you hear something like this:
"There is a guy on YouTube named Bix Weir who has spent many years studying silver and why the price has been held down for over a century."
your only response should be, "Really?"
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Bedrock of the Community
United States
36738 Posts |
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Pillar of the Community
United States
2229 Posts |
I 100% believe silver and other markets have been manipulated with super fast computer programs, trading in milliseconds. JP Morgan was fined hundreds of millions for illegal silver trading and a few of it's employees were convicted. Some YouTubers are doom and gloom, the end is near, sell all your stocks and buy silver/gold, food, ammo, cyrpto and all that. While it's good to be prepared and diversified no sense fretting about it. I don't think SHTF is coming tomorrow but with national debt, bank instability, record high charge card debt, higher early withdraws from retirement accounts, etc, the financial future is not good for a lot of people IMO.
Edited by livingwater
12/31/2023 1:34 pm
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Pillar of the Community
United States
3343 Posts |
People complain about the commission. But I don't remember what I paid in commission back in 2010. In the last year my commission on gold was covered in three months. Over decades I've watched the buying power of the dollar deteriorate substantially. The metals in the safety deposit box haven't.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
United States
397 Posts |
I will buy silver when the price dips below $20. And I don't mean spot price, I mean retail all-in price, including shipping. Mark my words, the everything bubble will burst  Cheers! |
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Pillar of the Community
United States
2843 Posts |
@AllSeasons.... If Jeremy Grantham & Harry Dent are correct regarding the Everything Bubble popping sometime this year.... we're gonna be in for one heck of a ride.
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Bedrock of the Community
Australia
21786 Posts |
I have about 14 kilograms of silver in numismatic items.
Taken a lifetime to build such a collection.
Almost all of it has at least some numismatic premium,
but
with more than 50% of the coins, the numismatic premiums are multiples of their silver value.
Have only a dozen or so coins that would have silver value only, in most cases due to their poor condition.
Same applies to almost all of the gold in my collection, and all of copper and bronze.
Pretty much the same for most non bullion / stackers accumulators.
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Pillar of the Community
United States
2843 Posts |
Just wanted to revisit this one, appears silver has broken out.... $SLV = 52 week highs
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Pillar of the Community
United States
5178 Posts |
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Just wanted to revisit this one, appears silver has broken out.... $SLV = 52 week highs There goes my hope of buying a cheap 2020 proof silver quarters set...   |
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Moderator
 United States
95630 Posts |
Yep, and my hope of buying a Green monster box of ASE's too |
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Replies: 71 / Views: 6,044 |
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Posted 12/29/2023 8:40 pm
