Member Info for carvegyber

Some of you will know that silver got hit badly in relation by world lockdown so let's look at the ratio. Silver was around 50:1 in the past couple of decades however it recently fell to 120 at one point. If we used 50 again and gold at $1865, you arrive at a silver price of $37.30. We are 20% away from that.

If you then use the historical silver monetary value relative to gold, this ratio is 15:1. Today, that would give silver a value of $124!

I truly think $50 will be hit in the next couple of weeks now that silver fever has gripped Asia too. They love a good bet.....

Silver Related Searches Surge On Google (1039 Gmt)
Silver isn't only a great conductor of electricity, it also seems quite good at drawing the Reddit crowd to its next target after leaving Melvin Capital and Citron Research licking their wounds over GameStop.

"Silver price" is the second most searched term in the United States, with over 200,000 searches according to Google data.

The top searched term? "Royal Rumble 2021," perhaps an apt metaphor for this year's battle between institutional short sellers and retail traders.

Anyhow, there are many ways to have silver exposure, including in direct physical form, via futures in financial instruments, by buying silver producers or physical-backed exchange traded funds, of which iShares Silver Trust ETF is by far the biggest with about $16.50 billion in assets.

Speaking of which, Google data shows searches with that ETF's name reached their highest in at least half a decade over the weekend.

That could very signal that big flows of retail money are set to hit the iShares Silver Trust ETF when the U.S. markets open, it is currently up 8.8% before the bell.

In the meantime, silver has surged to an eight-year peak and has overwhelmed multiple physical brokers, prompting them to restrict order flow.

https://www.youtube.com/watch?v=V0hUYCVIl34
Someone posted this earlier today thanks. If you haven't watched it, I urge you to. Note he mentioned SLV's 35m Oz increase. The other takeaway is that he says the available physical bullion is around 150m Oz. If the same rate of buying goes on a few more days, some of the naked shorts will not be able to rollover and Comex will have to start settling in cash which could accelerate the price up. With retail physical and SLV demands running so high now, in the end he appears to suggest that it could be done.

I also note that his resistance levels chime with mine and he appears to be objectively despite his bullish bias. I think $50 is attainable beyond $30. I feel $30 would crack today or tomorrow. Strap yourselves in.

I was on SLV's site last week and they showed holding of 567m oz. This morning it is 601m oz. That is 34m oz. To put it into context, a month's total silver consumption is 80m oz. We social traders have collectively bought over 40% of silver just on one silver ETF. LMAO. https://www.ishares.com/us/products/239855/ishares-silver-trust-fund

Once you added in the thousands of coins and bullion buyers worldwide, there will be an almighty delivery shortage shortly. I bet the futures traders are all covering their naked positions and that is driving prices up further. Buckle up fellas.

Hi Ken, I have already done this in my previous posts. Look through my history. 2020 net profits should be double more than 2019. More important is the cashflow. It would be $300m positive which is massive even with the reduced production. It will be a biggie.

It wouldn't take very much to move the needle. Annual demand is around 1000 million ounces. SLV hold 567m ounces already. It is huge.

If people pile in and buy 100m shares which translates to $2.7b currently, SLV would have to add 100m oz which is effectively half of all bullion physical deliveries last year. This would created a massive shortage on the bullion market we have seen what can happen when there is a shortage. Those who see this would now be quietly neutralising their contracts and that would be driving the prices up. It is a never ending cycle, until all the naked trades are settled.

They are going to get their arses sued off.... no cause to justify their actions whatsoever. The damages would run into tens of millions..... I hear a congresswoman has waded in too....

I think people power will be too much. Everybody hate the greedy bankers and this is their comeuppance.

I looked at their status report. It happened yesterday at US open too. If they can't handle the trades, they need to pack it up.

I have a sneaky suspicion that we are in for a ride of a lifetime chaps and it has only just begun. Stuff that movies will be made out of. It won't star Leonardo DiCaprio. It would be the little man.

Anyone else use them? The website has packed up just as things get exciting. Grrrr. If this keeps up, I will have to give them the boot.

Actually btb, that is incorrect. Slv is the worlds biggest physical silver etf. It has to buy bullions when you buy the shares. It also has an amplifying effect because when too many people buy the shares, the share price goes up faster than the bullion prices so what they have to do is actually buy bullions from the exchange driving the market up even more. This effect was seen in 2011 and it will happen again if we each buy some slv

So the story continues while trading is open across the pond. I am going to buy some SLV myself to help them on.... This is the focus of the short squeeze and the idea is that buying this Physical ETF will force them to take deliveries of silver bullion into their designated vaults. The resistance at $26 has been taken out fairly easily so the next target will be $28. Once $28 goes, it will be $30 and if that falls, which I suspect it will in the next few days, I think $47 is next stop. It has only just begun. GME took 2 weeks to play out. This could take longer because of the nature of silver contracts but the month end is helping us. The rollover is going to be painful for a lot of futures traders if they are naked.

I am rooting for the people...... and myself LMAO.

BTW, 6% in a day is a big deal. This is a feedback loop and there is a dam busting point. I hope it continues and it would be hugely fun to watch.

Don't be so pessimistic BTB. LOL. It wouldn't take very much. It nearly happened last year but the comex traders raised the spread to $100 an oz and eventually, they were able to fly gold out to close out contracts. The future orders have to roll it over but equally, institutions have to hedge their bets. If they can't do it because there is a sudden spike in demand, the price can go stupid like WTI did last year. Went negative! But in silver's case, go stupidly positive. We have already seen silver decouple from gold this afternoon so the needle is moving. If I was short, I wouldn't want to stay short after the gamestop lesson so I would offload my shorts which would squeeze the ones remaining in. Fun and games.

The futures paper contract far exceed the silver available for delivery. If there is sustained demand for silver, it would very quickly cause a meltdown in the physical market driving the bullion/spot price up very rapidly. I think the ride has just begun. Many people have written about this but looks like it may take people power to finally break the manipulation. Reddit crew mobilised $80b against gamestop but the whole silver market is only worth $25b. If it takes off, this could rocket. Silver $1000 anyone?

some of you will know I happen to have a big position on silver.... bloody IG playing up..... grrrr. I going to call them up.

This is so much fun.... my ig.com just gone into meltdown. LMAO. I bet they will stop taking orders shortly.....

Wakey wakey! Where is everyone? SLV gone up 6% and silver up 5%. You are about to miss the ride of your life.....

here's a link to the story:

https://coingape.com/bitcoin-price-volatility-declines-while-gold-real-estate-register-a-spike/

Stay tuned fellas, we could well be on an epic ride. This story is making the rounds....History has shown that this can happen when silver went to $47 in 2011. Wall street opens in 10 min. Get your trading hats on.

This time it would be even stronger as the momentum would be much higher. Once traders smell blood, they would pile in driving it even further.