And Crimex responds to the pressure by shutting down, without explanation, 36 hours before the first notice date for March. And the shutdown just happened to overlap the settlement window for March futures contracts. And while nobody was looking Jane Srreet became the #1 holder of SLV shares.
So. If Comex can shut down whenever they want to. And the government is going to put a price floor on silver and then let JP Morgan control the top end, and Jane Street can allow all their shares to be borrowed for shorts to help control the price Silver is never going to 200. Or 400. Or 1000. It will become uninvestable.
We will be lucky to get back to $100. Obviously the top end needs to be high enough to encourage domestic exploration and production. But given where it was one year ago versus today, $100 could conceivably be the number. Miners are printing cash at $100. The good ones anyway.
So silver trades in a range from 85-100 and becomes uninvestable because the upside is capped. Thats what the Treasury wants. That’s what the banks want. That what the Fed wants. And that’s what the MIC is telling them they have to do.
Stabilize the price at a level they can live with, where it’s still economical to explore and produce, but they are not subject to short squeezes or gamma squeezes or other disruptions that send it higher sending their costs higher.
Many will argue silver will be unobtainable. My counter argument is that it will be uninvestable, unless you like investing inside a narrow box.
The answer to me is that it likely past time to start selling silver and buying gold.
The 2nd Comex shutdown in 3 months should be a massive warning. Most will ignore it. But I’ll be selling my first 120 oz tomorrow and buying gold. And I plan on doing that every week for the balance of the year, until something or someone convinced me it’s not 100% a rigged game. I’ve always known it’s manipulated. But I never believed it was rigged in such a way that CME could just shut down trading with no regulatory or Congressional inquiry just because they don’t like the price action.
Right now I’m 60% gold 40% silver. If I carry out my plan for the next 42 weeks I’ll end up with about 95% gold, 5% silver. Seems like a much better mix.
You cannot hate those people enough. You just can’t.
You mentioned a lot of U.S. entities (JP Morgan. the Fed, Comex....). These U.S. entities have less and less to say on the matter each year. The bulk of industrial demand is outside the States.
Per the Silver Institute data, industrial demand for silver consumed about 45% of supply (mining & recycling) 10 years ago. Now it's over 65% and increasing. Supply pretty much stays the same each year, while industrial demand keeps going up. It doesn't appear supply will keep up with overall demand going forward.
Right. First, the Silver Institute is totally corrupt. Allegedly they represent the industry. In reality their top people are from the MIC. They did not lobby for silver to be included on the critical mineral list until 2022, by that time it was pretty clear it would ultimately be included.
Second, your conflating direct consumption with embedded use. While it’s true that a majority of silver is consumed outside the U.S.a huge amount (up to 80%) returns in embedded form in phones, panels and weapons.
And speaking of weapons, the Silver Institute demonstrates their total corruption here. They do not have a use category for weapon systems. They claim it’s included in general industrial use. Which anyone with half a brain and a bit of research and math knows is false. So they are hiding. In full complicity with the Govt, how much silver is being used in weapons systems. The amount is massive and dwarfs every other category.
You ignore foreign demand - which is the vast majority of physical demand. It just doesn't really matter that much any more what the US Deep State does or doesn't do. It can temporarily affect markets but no longer control them. USE of silver is exploding worldwide - that's what's driving demand.
You ignore the Sulver Institute corruption and close ties to the MIC.
You ignore the fact that the SI fails to provide the amount of silver imported for military use.
You ignore the fact that while the vast majority of silver is mined and consumed elsewhere, 75-80% of that is embedded into items that make their way back here. Including massive amounts for weaponry.
Stop acting like a BTC Maxi. I’ve been buying silver for decades. My dad was buying it in 1940. The price has been manipulated both up and down to fit the use needs of the MIC for a hundred years. And it will be for another hundred years. They have less control today than they did 5 years ago. Maybe even a year ago. But if you think they’ve lost control and silver is going to 200. Or 400. Or 1000.
You’re wrong. And you sound like a BTC evangelist.
When or where did I EVER mention btc??? Anyone who has followed me in these comments knows that I have no interest in btc and think that its a "Ponzi" IOU Nothing Squared (frns being the original IOU Nothings).
I also never said that I thought that silver (or gold for that matter) was going to be "priced" at any particular point at any particular moment. I do firmly believe, based on the evidence, that Gold and Silver are no longer under the "control" of the "5-Eyes" Deep State (although they certainly have the ability to temporarily "influence" them - witness recent price action in both) and are now responding and will in the future respond to general market forces worldwide.
I also believe that, at some point in the future, if "civilization" is to survive in the US, the Nation will return to 'Constitutional" money.
As far as "hidden" supplies we shall see. I'm definitely not an "optimist". I do not believe that the current Fourth Turning will end either peacefully or "well" and have been preparing for that possibility for decades, just as, I presume, have you.
I do try to avoid extremes of either optimism or pessimism. Primarily I attempt to "prepare", both for myself and, increasingly, for my family - children and grandchildren. I hope that substantial elements of Western Civilization can survive the coming chaos and try to promote that result where/whenever I can.
I'm now long metals. My immediate concern is oil. Producer margins and revenue are being squeezed and supply is up. I'm sensing a correction due to Yahoo Scout issuing warning on all the majors:
"News headlines
Updated 42m ago
Chevron is navigating a challenging environment with declining oil prices and increased production costs. The company is also expanding its operations in Venezuela, potentially boosting its crude oil exports significantly...."
And Crimex responds to the pressure by shutting down, without explanation, 36 hours before the first notice date for March. And the shutdown just happened to overlap the settlement window for March futures contracts. And while nobody was looking Jane Srreet became the #1 holder of SLV shares.
So. If Comex can shut down whenever they want to. And the government is going to put a price floor on silver and then let JP Morgan control the top end, and Jane Street can allow all their shares to be borrowed for shorts to help control the price Silver is never going to 200. Or 400. Or 1000. It will become uninvestable.
We will be lucky to get back to $100. Obviously the top end needs to be high enough to encourage domestic exploration and production. But given where it was one year ago versus today, $100 could conceivably be the number. Miners are printing cash at $100. The good ones anyway.
So silver trades in a range from 85-100 and becomes uninvestable because the upside is capped. Thats what the Treasury wants. That’s what the banks want. That what the Fed wants. And that’s what the MIC is telling them they have to do.
Stabilize the price at a level they can live with, where it’s still economical to explore and produce, but they are not subject to short squeezes or gamma squeezes or other disruptions that send it higher sending their costs higher.
Many will argue silver will be unobtainable. My counter argument is that it will be uninvestable, unless you like investing inside a narrow box.
The answer to me is that it likely past time to start selling silver and buying gold.
The 2nd Comex shutdown in 3 months should be a massive warning. Most will ignore it. But I’ll be selling my first 120 oz tomorrow and buying gold. And I plan on doing that every week for the balance of the year, until something or someone convinced me it’s not 100% a rigged game. I’ve always known it’s manipulated. But I never believed it was rigged in such a way that CME could just shut down trading with no regulatory or Congressional inquiry just because they don’t like the price action.
Right now I’m 60% gold 40% silver. If I carry out my plan for the next 42 weeks I’ll end up with about 95% gold, 5% silver. Seems like a much better mix.
You cannot hate those people enough. You just can’t.
You mentioned a lot of U.S. entities (JP Morgan. the Fed, Comex....). These U.S. entities have less and less to say on the matter each year. The bulk of industrial demand is outside the States.
Per the Silver Institute data, industrial demand for silver consumed about 45% of supply (mining & recycling) 10 years ago. Now it's over 65% and increasing. Supply pretty much stays the same each year, while industrial demand keeps going up. It doesn't appear supply will keep up with overall demand going forward.
Right. First, the Silver Institute is totally corrupt. Allegedly they represent the industry. In reality their top people are from the MIC. They did not lobby for silver to be included on the critical mineral list until 2022, by that time it was pretty clear it would ultimately be included.
Second, your conflating direct consumption with embedded use. While it’s true that a majority of silver is consumed outside the U.S.a huge amount (up to 80%) returns in embedded form in phones, panels and weapons.
And speaking of weapons, the Silver Institute demonstrates their total corruption here. They do not have a use category for weapon systems. They claim it’s included in general industrial use. Which anyone with half a brain and a bit of research and math knows is false. So they are hiding. In full complicity with the Govt, how much silver is being used in weapons systems. The amount is massive and dwarfs every other category.
But you’re not supposed to know that.
You ignore foreign demand - which is the vast majority of physical demand. It just doesn't really matter that much any more what the US Deep State does or doesn't do. It can temporarily affect markets but no longer control them. USE of silver is exploding worldwide - that's what's driving demand.
Not ignoring it.
You ignore the Sulver Institute corruption and close ties to the MIC.
You ignore the fact that the SI fails to provide the amount of silver imported for military use.
You ignore the fact that while the vast majority of silver is mined and consumed elsewhere, 75-80% of that is embedded into items that make their way back here. Including massive amounts for weaponry.
Stop acting like a BTC Maxi. I’ve been buying silver for decades. My dad was buying it in 1940. The price has been manipulated both up and down to fit the use needs of the MIC for a hundred years. And it will be for another hundred years. They have less control today than they did 5 years ago. Maybe even a year ago. But if you think they’ve lost control and silver is going to 200. Or 400. Or 1000.
You’re wrong. And you sound like a BTC evangelist.
When or where did I EVER mention btc??? Anyone who has followed me in these comments knows that I have no interest in btc and think that its a "Ponzi" IOU Nothing Squared (frns being the original IOU Nothings).
I also never said that I thought that silver (or gold for that matter) was going to be "priced" at any particular point at any particular moment. I do firmly believe, based on the evidence, that Gold and Silver are no longer under the "control" of the "5-Eyes" Deep State (although they certainly have the ability to temporarily "influence" them - witness recent price action in both) and are now responding and will in the future respond to general market forces worldwide.
I also believe that, at some point in the future, if "civilization" is to survive in the US, the Nation will return to 'Constitutional" money.
You never did. I just said you are beginning to sound like one in your advocacy because you are ignoring reality.
We are on the same side. You are a dreamer and an optimist. I’m a realist and a pessimist.
The Silver Institute is not on your side. Embedded silver and consumed silver are not the same.
Hop Morgan is sitting on at least a years worth of supply and that is more than enough to control the upside.
As far as "hidden" supplies we shall see. I'm definitely not an "optimist". I do not believe that the current Fourth Turning will end either peacefully or "well" and have been preparing for that possibility for decades, just as, I presume, have you.
I do try to avoid extremes of either optimism or pessimism. Primarily I attempt to "prepare", both for myself and, increasingly, for my family - children and grandchildren. I hope that substantial elements of Western Civilization can survive the coming chaos and try to promote that result where/whenever I can.
I’m pretty optimistic really. Just not about the silver price. Lol.
I was totally prepsred for disaster starting in 2012. I just got there to early. Not so prepared today.
Just when I think I know what all this means, I know I don't.
I'm now long metals. My immediate concern is oil. Producer margins and revenue are being squeezed and supply is up. I'm sensing a correction due to Yahoo Scout issuing warning on all the majors:
"News headlines
Updated 42m ago
Chevron is navigating a challenging environment with declining oil prices and increased production costs. The company is also expanding its operations in Venezuela, potentially boosting its crude oil exports significantly...."
Watch the Registered figure.