GameStop / Reddit News

[MancunianStacker]

[Paul]

bring it on !  

[Paul]

This will be brilliant if the Reddit WallStreetBets lot get on this 

[GrahamDiamond]

Just been researching Wallstreetbets, as i had never heard of them until today. Looking Good for Silver, Gold, Platinum, BTC and XRP Coinster's .

[Kman]

4 hours ago, HawkHybrid said:

you do realise that a short squeeze is the definition of a bubble?

 

HH

Saying it's a bubble aka the price does not align with the fundamentals of the asset

fundamental: forming a necessary base or core; of central importance

What is more fundamental than the maths of a short squeeze, that has become the fundamental of the asset

If you need me to explain any more simply just let me know

[Paul]

just reading over a lamestream media article on Daily Mail covering this to see what its spin is on it

and one of the top rate comments on the article is 

[sixgun]

[Paul]

from another article on DM - next week is gonna be interesting 

[breaktwister]

Guys, I was surprised to see no thread on here about the movement that began on r/wallstreetbets last week to move their short squeeze activity into the silver market.  This resulted in recent price movements in silver.  A lot of information is on  https://twitter.com/TheLastDegree

https://goldsilver.com/blog/first-gamestop-next-silver/

Basically, we know the large banks are heavily short silver on the Comex futures market, as much as 250 times the amount of silver available for delivery.  If enough people purchase physical silver directly from dealers and mints, or via ETFs (PHAG in the UK, PSLV elewhere) then the Comex can be drained quickly forcing bullion banks to close their shorts.  This is a huge deal and could see physical silvers shortages appear very quickly globally.

 

[breaktwister]

Ops, I didnt see the existing thread, I am happy for mods to move this to "Wallstreetbets eye up SLV" 

[MancunianStacker]

3 minutes ago, breaktwister said:

Guys, I was surprised to see no thread on here about the movement that began on r/wallstreetbets last week to move their short squeeze activity into the silver market.  This resulted in recent price movements in silver.  A lot of information is on  https://twitter.com/TheLastDegree

https://goldsilver.com/blog/first-gamestop-next-silver/

Basically, we know the large banks are heavily short silver on the Comex futures market, as much as 250 times the amount of silver available for delivery.  If enough people purchase physical silver directly from dealers and mints, or via ETFs (PHAG in the UK, PSLV elewhere) then the Comex can be drained quickly forcing bullion banks to close their shorts.  This is a huge deal and could see physical silvers shortages appear very quickly globally.

 

There is mate. I’ve been mentioning it a few times - 

 

[MancunianStacker]

2 minutes ago, breaktwister said:

Ops, I didnt see the existing thread, I am happy for mods to move this to "Wallstreetbets eye up SLV" 

😂 that one too 

[kimchi]

Not sure if correct but I've been told that this went huge after Musk tweeted it, while coincidentally the 'organiser' had tried to short-sell Tesla a few years back. Musk trying to get in with the masses as a 'good guy' again, or something more cynical?

Worth thinking about imo (even if not very practically useful in the short-term).

[Kman]

43 minutes ago, Paul said:

from another article on DM - next week is gonna be interesting 

Is doing a short squeeze on silver possible? 

I heard gamestop wasn't too bad because of the size but I'm not sure of the differences in how much money would need to go into silver to cause a squeeze

[sixgun]

3 minutes ago, Kman said:

Is doing a short squeeze on silver possible? 

I heard gamestop wasn't too bad because of the size but I'm not sure of the differences in how much money would need to go into silver to cause a squeeze

50 million shares in GameStop turned over on Friday and there were restrictions in place. That's about $16 billion. They talk about a billion ounces of silver being available. i do not believe that it is that much by a long chalk. They are counting my silver etc and silver in ETF's. My silver is unobtainium and the silver in ETF's should not be available.
On the big day for Game Stop i heard over $80 billion in shares turned over. 
There is so much leverage in the precious metal markets a concerted effort by any group with the resources targeting physical silver, it would blow the silver market sky high. i expect they would shut the market down. i don't think they could do anything else. If shorts had to unwind the leverage out there >>100 to 1, paper to physical, it would explode. They know this, they know it is a timebomb.
As i used to say back in the dark days of silver, when members were crying about what a bad investment it was and how they were losing - i would say - it is not a matter of if, it is simply a matter of when the price of silver goes much higher. Then i would smile to myself, double down and buy some more silver. It is so terrible it was all lost in a tragic boating accident. 

[Stu]

8 minutes ago, sixgun said:

50 million shares in GameStop turned over on Friday and there were restrictions in place. That's about $16 billion. They talk about a billion ounces of silver being available. i do not believe that it is that much by a long chalk. They are counting my silver etc and silver in ETF's. My silver is unobtainium and the silver in ETF's should not be available.
On the big day for Game Stop i heard over $80 billion in shares turned over. 
There is so much leverage in the precious metal markets a concerted effort by any group with the resources targeting physical silver, it would blow the silver market sky high. i expect they would shut the market down. i don't think they could do anything else. If shorts had to unwind the leverage out there >>100 to 1, paper to physical, it would explode. They know this, they know it is a timebomb.
As i used to say back in the dark days of silver, when members were crying about what a bad investment it was and how they were losing - i would say - it is not a matter of if, it is simply a matter of when the price of silver goes much higher. Then i would smile to myself, double down and buy some more silver. It is so terrible it was all lost in a tragic boating accident. 

I agree, they can’t  let this take off or all hell will be break lose.  The powers that be closed if the Hunt bro’s physical position decades ago, they will do the same here if it gains traction. 
I understand how commercial banks short the price via futures contracts, however how do retail investors go long? ETF which would highlight lack of enough physical to meet the demand?

Edited January 30, 2021 by Stu

[kimchi]

If the likes of Musk are involved I will be holding however high this goes (if it goes), unlike Gamestop (which would then be the 'set-up') it would be a limited and deliberate flushout of physical for soon-to-be-worthless fiat IMVHO.

There would also be a LOT of eyes on this forum

I don't have much left anyway. My brilliant plan of burying my (rather pathetic) physical holding all around the country came unstuck recently when the dog ate the map

[sixgun]

1 minute ago, kimchi said:

I don't have much left anyway. My brilliant plan of burying my (rather pathetic) physical holding all around the country came unstuck recently when the dog ate the map

So many tragic accidents. It is quite incredible. It is heart breaking to hear them all. 💔😢

[MancunianStacker]

23 minutes ago, kimchi said:

I don't have much left anyway. My brilliant plan of burying my (rather pathetic) physical holding all around the country came unstuck recently when the dog ate the map

I hope you weren’t serious? Best start looking before the memory gets worse. Get the dog to help, it’s the least he can do!!

I guess in 2,000 years someone will find your stack, like we are finding the Romans and Vikings.

Best of luck!

[kimchi]

20 minutes ago, sixgun said:

So many tragic accidents. It is quite incredible. It is heart breaking to hear them all. 💔😢

We are a sorry, miserable, devastating unlucky bunch indeed on here indeed...at least we still have each other - it is a comforting feeling to know one is not alone in this rather unique but extremely sad situation

On a slightly brighter note, I now have a very energetic and adorable young springer spaniel for sale! He looks to have had some rather crude recent stomach surgery of indeterminate origin (and reason unknown). He will be a good companion to someone I am sure in a month or two, when whatever soporifics his present food supplies are contaminated with (another strange mystery) run out and he wakes up healed

[Paul]

#silversqueeze

[ChrisSilver]

Topic merged into this one. 

[MancunianStacker]

PSLV (Canadian) seems to be the ticker of choice for going long as it is backed by physical.
 

Avoid the SLV ETF and the other x2 and x3 exposure ETFs (all paper and no physical backing).

Might put a few quid into this via my pension SIPP On Monday.

JP Morgan is now long on Silver but plenty of other banks are still shorting.

[Minimalist]

To be honest, if this pumps when I hold mostly Gold and a little bit of Silver ill be disappointed.

If any of you Reddit Wallstreetbet people are looking in here… What you doing? Help a brother out? Pump they Gold Futures! Forget Silver! Gold is the source of the truth, the future, the almighty, the bankers nightmare!

p.s. If any government agency is looking at this post; I may or may not own any metals or intend to advocate manipulation. I cannot confirm or deny that any of this message is true.

[Roy]

I cashed out all my stock on Trading212.

I withdrew all the money and instead of paying me a lump sum they paid me in dribs and drabs of low denominations I.e. £10, £15, £17 etc.

Smells very ponzi to me, are they paying out with people's recent deposits?