Loading ...Open Letter To Silver Squeeze Participants
One would think that at least some silver stackers/silver apes are likely readers of Goldtent. I have noticed there is supposedly another organized Silver Squeeze for Monday March 31st.
Back before the original squeeze in early Feb. 2021 I suggested online in a comment on someone’s YouTube video that just buying physical silver wasn’t going to be enough to accomplish a real squeeze. My suggestion at that time was that the organizers needed to get as many deep pocketed silver enthusiasts as possible to open futures accounts and buy silver futures contracts on the Comex, pay for them in full(no margin) and request delivery of the physical silver. I don’t know if they did so and to what extent, but it probably wasn’t very many.
Forward now to the present. It may not be many individuals doing so, but numerous large players(probably including industrial users of silver) are taking delivery on both the LBMA and the COMEX to the point that physical silver inventories are being drained to the lowest levels in years.(if not ever)
My suggestion to anyone who owns PSLV shares is to make sure they do not own it in a margin account and to tell their broker and or custodian that they do NOT want their shares to be lent out to potential short sellers. The reason is that it has been reported by Eric Yeung, that the bullion banks are shorting PSLV aggressively to keep it from buying physical silver to lower the demand for silver and keep the price of silver in check.
If enough investors buy PSLV because they want to go long silver, PSLV has to go into the physical market and buy silver to back up the shares created. If the bullion banks are able to borrow other peoples PSLV shares to go short, they offset a lot of the demand and minimize the amount of silver that PSLV has to buy at the end of each trading day because they only add additional silver after netting out the differnce between buys and sells each day.
We know from the first silver squeeze that the bullion banks have deep pockets and the regulators are on their side. However, the market is much different than it was four years ago and a lot more investors, stackers and industrial demand, exists today. The value proposition of buying physical silver with no leverage or short term time horizon warrants taking a shot on supporting this version of the silver squeeze.
I wouldn’t wait until Monday the 31st to start buying. Dip your toe in, see how things play out and what happens between now and Monday. If $35 can be reached and exceeded before then, a spike to $39-$40 or even higher, could be in the cards comes Tuesaday or Wednesday the first two days in April, and it won’t be an April Fool’s joke, except for maybe on the bullion banks.
Hey CM this is working already…Silver up 60 cents
FYI Silver options settlement is Thursday March 27th. Often this entails a slam down in the silver price the day before or of. There is a huge amount of silver COT short interest out there. It is the set-up for Mr. Slammy. Just saying. Although it doesn’t seem to be having it’s effect presently
I am well aware of the options slam down history and have long felt that when silver was ready to crush the shorts that would be how you would know. It would be when the shorts went long in front of the options expiration and instead of the usual smackdown, silver explodes higher. I don’t know if this is what is about to occur but I have been expecting it for some time. Maybe this is it?
Betting on the day the banks get killed isn’t what I will be attempting. Instead I hold a core of silver stocks and will likely be adding on Thursday when this threat is taken off the table.
Not betting on the banks getting killed. Just responded to your waarning about the option expiration. As I replied, if the shorts reversed and went long the price action would reflect that and the “usual pattern” won’t hold. Not yet clear if that is what is happening, but likely will be the way it plays out when that time comes.