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Silver [$SLV] Big Short Squeeze Begins, Wallstreetbets Targets Silver Price of $1000


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2021 Jan 28, 7:24am   5,814 views  104 comments

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https://coingape.com/silver-slv-short-squeeze-begins-jp-morgan-holds-largest-short-positions/
The wallstreetbets group is taking up on Silver [$SLV] as their next short squeeze target and $SLV price is already started rising breaking $26.5 at the time of reporting. It is to be noted that JP Morgan is among the largest silver short position holders and they may well be next Melvin Group.

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84   Bd6r   2021 Feb 3, 5:27pm  

NuttBoxer says
richwicks says
Not exactly true. Rare coins (numismatics) can be worth significantly more than their melt value.


So when the dollar collapses and people are using coins to buy food, who's gonna care about your coin being "rare"? Or when silver is over $100/oz, who's gonna pay you more because it's "rare" silver?

No two situation are exactly the same, but during German or Russian occupations in WW1 and WW2 that my relatives lived through, gold weight of a coin mattered much more than if the coin was 16th century rare coin or just a common gold coin. Additionally, the purchasing power of gold and silver decreased quite a lot (while purchasing power of fiat currencies collapsed to something very close to 0). What became very expensive relatively speaking, was food, shelter, clothes, and fuel
85   richwicks   2021 Feb 3, 5:59pm  

Rb6d says
What became very expensive relatively speaking, was food, shelter, clothes, and fuel


Of course, but consider this - nearly everybody had gold or silver back then.

99% of the population doesn't have either today. We're in the Stupid Age.
86   GlocknLoad   2021 Feb 3, 6:36pm  

richwicks says
NuttBoxer says
So when the dollar collapses and people are using coins to buy food, who's gonna care about your coin being "rare"?


In that situation, nobody.

NuttBoxer says
Or when silver is over $100/oz, who's gonna pay you more because it's "rare" silver?


Any coin shop.

I don't suggest buying numismatics. I'm saying that if you have 35 lbs of silver coins, you very well might have some valuable ones in there. I'd trade those out for more silver.

@Nutboxer

This is very good advice.
87   Misc   2021 Feb 3, 8:57pm  

Ok, so the bullion banks let the price of silver go up about 10% and shorted as much as people would buy on the exchanges. They did this knowing that the margin requirements would be increased on the commodity exchanges. When the margin requirements changed, there were forced sales because of the higher cash requirements. The bullion banks then covered their new short positions at the lower prices caused by the forced sales.

Retail customers are looking at losses. I wonder if this will deter them from buying in the physical markets. The price in the physical markets is much higher than the paper markets. This tends to gravitate buyers to the paper markets, which are totally fraudulent. Who knows, maybe this time the shenanigans in the paper markets won't deter people from buying in the physical markets.

Now that the pump and dump with margin manipulation has played out, don't expect anymore press on the issue.

What part about rigged don't people get?
88   Onvacation   2021 Feb 3, 11:12pm  

WookieMan says
Bullets, water and food are it. Maybe a bow and arrow or large knife I guess.

Yams?
Beltfed?
You should know better.
89   NuttBoxer   2021 Feb 4, 3:53pm  

WookieMan says
Bullets buy food when the dollar collapses. Coins, fiat, spreadsheets, none of it matters. Bullets, water and food are it. Maybe a bow and arrow or large knife I guess.


Believe it or not, even in desperate times, not everyone is a sociopath. But if you don't have plenty of guns and ammo, you won't have your silver for long either.
90   Booger   2021 Feb 4, 3:56pm  

Onvacation says
Yams?


Perhaps we should all go to wallstreetbets and suggest buying Yams futures?
91   Onvacation   2021 Feb 4, 4:49pm  

NuttBoxer says
Believe it or not, even in desperate times, not everyone is a sociopath.

It only takes a couple.

I bet if we could diagnose sociopathy worldwide and label the small percentage of sociopaths, and watch them. We would live in a much nicer world.

Of course one man's sociopathic Insurrectionist is another man's freedom fighter.
92   just_passing_through   2021 Feb 4, 8:32pm  

Onvacation says
Of course one man's sociopathic Insurrectionist is another man's freedom fighter.


Right.

I think there was a good reason for them to exist, perhaps way back in hunter/gatherer days but maybe not so much anymore, or not so many. They aren't all bad like psychopaths.

Otherwise they'd have been bred out of the gene pool.
93   porkchopXpress   2021 Feb 4, 8:59pm  

Patrick says
porkchopexpress says
I have 10,000 oz of silver buried somewhere.


If true, you shouldn't ever admit it. Makes you a target.
Won't matter. I don't know where it is.
94   Onvacation   2021 Feb 4, 9:07pm  

just_passing_through says
I think there was a good reason for them to exist, perhaps way back in hunter/gatherer days

That's exactly what I was thinking.
95   Onvacation   2021 Feb 4, 9:08pm  

porkchopexpress says
Won't matter. I don't know where it is.

So I'm not the only pirate who forgot where he buried the treasure.
97   just_passing_through   2021 Feb 4, 10:06pm  

Onvacation says
That's exactly what I was thinking.


Yup, it appeared that way.
98   Misc   2021 Feb 19, 12:05am  

Like I envisioned, there is no mainstream press related to the physical availability of silver. That info kinda dried up. The price of silver in the paper markets has gone down over the last couple of weeks, but I've read that the price difference between the physical and the paper markets is at an all time high. I'm not too sure about delivery being made, especially at the retail level. Here's an interesting article:

https://seekingalpha.com/article/4407142-slv-to-skyrocket-and-s-why-you-should-buy-physical-silver-instead

Now I don't buy into the price spiral going out of control, like the author does. This is because SLV is owned by Blackrock and they ain't gonna collapse the financial system. Similarly, the brokerage firms will act in collusion and simply create (forge) more shares of SLV.

In the physical markets, expect a lot of "there's plenty of silver, just not that ounce size" rhetoric. They will continue the lies as long as needed.
99   Bd6r   2021 Feb 19, 10:17am  

Misc says
"there's plenty of silver, just not that ounce size" rhetoric.

Kilogram size is not that plentiful either. Spread between paper and physical is on the order of $6-10 per ounce, which is ridiculously high.
100   Shaman   2021 Feb 19, 8:31pm  

just_passing_through says
Right.

I think there was a good reason for them to exist, perhaps way back in hunter/gatherer days but maybe not so much anymore, or not so many. They aren't all bad like psychopaths.


I’ve researched sociopaths quite a bit. They’re characterized mostly by a lack of empathy, but often know how to simulate it effectively. That’s a skill the more successful sociopaths learn to better blend in with the normals and thus influence them. Their greatest threats are the true empaths, people who are very kind and helpful. Empaths will see through their charade and note that something about them is “off.” To this end, sociopaths like to target empaths with a preemptive strike. The sociopath will use a cabal of toadies (apaths) who might have genuine feelings but no moral center beyond themselves. The sociopath then gets his group to belittle and ostracize the empath, often falsely accusing him or her of something monstrous or embarrassing. The best outcome here for the sociopath is that the empath will withdraw from the group in shame and anguish and his cover will be solid.
However, some empaths have had enough experience with sociopaths to both recognize them and know how to defeat them. This is accomplished by networking with the group on an individual basis, one by one relating to each person (using the empaths skills) and finding out what the sociopath has been saying about everyone. Since sociopaths usually lie, and love to cause dissension and antipathy between their followers, he will have said something nasty about everyone behind their backs.
The empath only has to expose these lies to each person and then the whole sociopathic scheme falls apart. As the true monstrousness of the sociopath’s meddling is exposed, everyone turns against him.
This is usually when the sociopath leaves the group. Pretty much always. They’ll switch schools, clubs, or even jobs to avoid a group to which their true nature has been revealed.

I’ve done this to a sociopath twice. The first one was my boss. Once his schemes were exposed to all, nobody would work for him or listen to him and he got demoted, then later took an early retirement once it was clear he’d never enjoy what he did before. The second guy was exposed and pretty much everyone hated or actively disliked and mistrusted him. He quit.
101   theoakman   2021 Feb 20, 6:13am  

Shaman says
just_passing_through says
Right.

I think there was a good reason for them to exist, perhaps way back in hunter/gatherer days but maybe not so much anymore, or not so many. They aren't all bad like psychopaths.


I’ve researched sociopaths quite a bit. They’re characterized mostly by a lack of empathy, but often know how to simulate it effectively. That’s a skill the more successful sociopaths learn to better blend in with the normals and thus influence them. Their greatest threats are the true empaths, people who are very kind and helpful. Empaths will see through their charade and note that something about them is “off.” To this end, sociopaths like to target empaths with a preemptive strike. The sociopath will use a cabal of toadies (apaths) who might have genuine feelings but no moral center beyond themselves. The sociopath then gets his group to belittle and ostracize the empath...


This was a great post. And, yes, these people will try to emulate some sort of high morality to hide their sociopathic behavior. There were two teachers at my last school who were the absolute worst people I've ever known. They would badmouth everyone behind their back. They would try to get people demoted or fired. And of course, they would lie about their classroom accomplishments and kiss admin's ass. It's not a coincidence that both of them are nonstop posting BLM nonsense on their facebook and planting signs outside their homes because they think it gives them some sort of illusion of morality, and to a large degree, it does work with the mindless automatons.
102   PeopleUnited   2021 Feb 20, 8:51am  

theoakman says
, it does work with the mindless automatons.


AKA: Democrat voters.
103   just_passing_through   2021 Feb 20, 6:36pm  

theoakman says
This was a great post.


It is a great post but I stand by what I said, "They are not all bad". In fact, not all sociopaths realize they are sociopaths! Case in point: I watched a documentary sort of show put on by a psychologist (I think?) where he'd discovered he was able to select sociopaths from non-sociopaths by looking at brain images. I think they were CT scans.

He used himself as a control. When he came across his own image he realized, "holy shit! I'm a sociopath!", and he goes on to discuss it with his live audience. Pretty funny guy too and not a bad person at all. He did reflect on some of his past actions and decided to work on things... I'm totally paraphrasing but yeah...
104   just_passing_through   2021 Feb 20, 6:39pm  

This isn't the video but this is the guy:

https://www.youtube.com/watch?v=vii60GUGTQU

This clip mentions psychopathy which is worse. I'm nearly certain the talk he recorded to a live audience was about sociopaths not psychopaths which are worse but I'm probably wrong/mis-remembering....

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