Title: SILVER FRENZY CREATES LEVERAGE: What Does The Silver Explosion Actually Mean? Source:
[None] URL Source:https://www.youtube.com/watch?v=3KSjJAW_RRg Published:Feb 1, 2021 Author:Horse Post Date:2021-02-01 15:48:55 by Horse Keywords:None Views:103 Comments:4
Poster Comment:
100 million ounces of silver on shorts. Buyers of physical silver outnumber sellers 50 to 1. Do not sell silver until Hyperinflation even at $100 an ounce.
What nonsense. Fools that listened to that garbage and acted on it have already been burned; especially fools attempting to buy silver to create a short squeeze. For a little more than an hour, the silly believers drove the price of silver above $30 an ounce. Since then silver has been dropping and in less than two days, silver dropped almost $4 and below the closing price on Friday before fools attempted the short silver squeeze.
It is impossible to create a short squeeze in silver because there are huge quantities of excess mined silver, huge quantities of silver are being mined, and there is very little demand. In the past, there were big demands for silver as jewelry, silver coins, especially 90% silver coins for money, photography, and silverware.
Now, there is very little of any of that. Much of the demand is fools like me that purchased silver rounds and bars, hoping the price would go up.
The fact is about 900 million ounces of silver is mined each year and if the price went above $30 an ounce and stayed there the production would increase by 40 to 80 percent.