If you don't remember what happened the last time silver was shorted, the Hunt brothers do.
The Hunt brother's weren't shorting. They were cornering, and did it on margin. Then the exchanges changed the margin requirements.
Unless these retail people buying up GameStop are doing it on margin, regulators can'd counter them by raising margin requirements.
It's been an open secret that JP Morgan has been suppressing the silver prices for years. I think they plead guilty to something and paid a pittance of their profits made off of little people to the fed gov, so they've really learned their lesson.
If silver hits $1000/oz I'm going get one those retractable air hose reels. And new front tires for my old truck. And a new set of handles for my wheelbarrow. And a new dishwasher for my daughter. And build for the grandkids a treehouse that will make the cover of Southern Living magazine.
Are you fucking kidding??? HOLY SHIT. Guess what I am doing tomorrow LOL
"Call Me Ishmael" -Ishmael, A character from the book "Moby Dick" 1851. "Call Me Fishmeal" -Osama Bin Laden, A character created by the CIA, and the world's Hide And Seek Champion 2001-2011. -Tommythemadartist
A frenzy should be well into the 3 digits, at least.
Silver is up about 10% in the last 24 hours while gold has not moved. So that could be due to Big Finance cancelling their silver shorts in reaction to the silver short squeeze rumor. If silver should pull a GameStop, it would have to go over 400/oz.
a meme with Ditzy Redbush and Kayleigh McEnany that compared them to RA and Barbie respectively. That was pretty cool.
My younger sister had a Barbie Doll. But my twin was a tomboy. She played basketball and 16 inch (clincher) bare handed softball. If you've never been to Chicago then you have no idea what playing that game is like.
When I was a Junior Patrolman, Officer Friendly was the guy that ran it. He lived nearby where I did. And he was a mean SOB too.
We had a reservation for a ball diamond a Waveland Park so we could play ball on a particular day and time. When we got there some other kids were playing ball. He told them they had to leave and one of the other kids took issue. He shoved that kid and told him, "Get lost. We have a reservation for the diamond." LOL
This is one of those old time stories I am very lucky to recall. ;)
"When bad men combine, the good must associate; else they will fall, one by one." Edmund Burke
When the minimum wage is $1,000 per hour silver may be $1,000 per ounce. There is little demand for silver and there enough silver to meet any foreseeable demand. Therefore, while silver may increase in price and might even double in price provided there is enough inflation, silver may drop in price. Within the year 2021 silver could go as low as $15 dollars per ounce or it double in price.
I don't see silver going up much more than inflation because there is a lot of silver and not much demand since the two prior big uses--money and photography, is almost none existent. 2% percent of people may have silver eagles but 60 years ago every American over the age of 5 and many other people throughout the world had silver coins that was commonly used as money.
But the facts of the matter are silver has been shorted in an attempt to keep the price artificially low.
There is certainly something going on when APMEX and JM Bullion don't have any silver in stock except for so call numismatics where the premium is so high that that the price is double the listed price of silver. And, where TD Ameritrade, Interactive Brokers, and no doubt other future brokers will not permit you to take delivery.