Last few paragraphs from the April 1st piece by Michael Ballanger. “Fundamentals do not matter. I think not. If the old adage of “safety in numbers” can be applied to gang warfare, it is of even greater significance in the stock pump game and if there is one thing that HYMC and AMC have demonstrated to the investment world with the utmost of emphasis and strength of purpose, it is that size matters.

If your investor group decides that as a collective, they are going to revalue a worthless corporate issuer to a level considered borderline fraudulent, then let free market capitalism live on and reward the believers.

For this reason, I think silver is going to hit $50 per ounce in the next move because a bunch of video-game-trained Millennials figured out how to vanquish the “bosses” in the form of traditional Wall Street power brokers known as bullion banks. In late February of 2021, the SilverSqueeze movement went into a gunfight armed with machetes and got taken out behind the proverbial woodshed. However, they have recently regrouped and reinforced their ranks with profits taken in the rise to all-time highs in many if the “meme stocks”.

The ascendancy of Hycroft Mining to a market cap of absolute absurdity represents the sounding of the clarion call of the advancing armies being called to service and it is with great irony that I declare that there is absolutely no reason from either an economic or event-driven perspective that this move will occur.

I cannot provide time frames or price objectives with any real clarity or certainty but at the end of the day, this is what happens when citizens the world over lose all respect for the integrity of their home currency. When the fear of losing money — i.e. the recognition of risk — vacates the marketplace, it is because money has lost its scarcity value. When central banks are allowed to create currency and credit with little or no controls or limitations, that scarcity value evaporates and bubbles — one after the other — come rushing in.

My greatest fear is the point in time when people lose all interest in earning a living because government eliminates the requirement for the “earning” part. What history has shown regarding all financial crises since the Crash of ’87 is that it is the responsibility of the government to protect investors from any and all risks, be they subprime banking fraud or health issues such as the 2020-2022 pandemic. Now, with inflation raging at nearly 8%, they are considering stimulus cheques designed to offset the impact of rampaging fuel and food prices proving once again that these legislators have never taken and certainly never passed any courses in economics.

I know that there are many gifted analysts out there that can provide relevant statistical reasons for owning silver and I recognize that my disillusionment with traditional fundamental analysis may come across as a blasphemy of sorts, but until the sanctity of money and respect for savings have been restored by a return to the principles of sound money and prudent fiscal behavior, I will no longer attempt to provide a logical rationale for ownership.

Instead, I will simply remember the immortal words of the croupier when the right number shows up in that wonderful carpet of green felt: “Winner, winner, chicken dinner!”

Originally published April 1, 2022.e by Michael Ballanger. https://www.streetwisereports.com/article/2022/04/03/why-should-we-not-take-a-position-in-silver.html