As I explained yesterday, no matter how much you stack, nor how much silver is leveraged & naked shorted, until delivery exceeds stock for a decent amount of delivery dates, and customers refuse money settlements, this could be taken to the woodshed.
Of course eventually the mines will fold & supply will dry up, & then paper will probably correct rather than die, the game is to precious for them to let it go.
For now the house wins, will the house suppress silver to under $10.00 forever? I doubt it, but who knows?
The big users are also large corporations bedfellows with the house, they are not on the stackers team.
Silver is not oil, where many countries live off their oil, their rising populations cause need for more money so they produce more oil, the US is now self sufficient so too are Holland & the UK, China has inventory & the west is trying to strangle Russia.
Electric vehicles & machinery , plus a glut of natural gas. Many internet workers from home office, and even more unemployed, have caused less oil to be needed.
Yet silver is no longer used in camera film, but that stopped way back, it has many industrial & medicinal uses, Lately coins have set record sales, plus bars & bullion. With such high demand & low inventories, there is no way to explain a 5% price drop in a matter of hours.
There is no law or regulation against naked shorting silver, nor is there any conflict of interest laws, so a bank short more silver than there is above ground, who fears possible delivery shorts it to the ground, at the low price if need be they could buy it over the counter for delivery, or even melt eagles. That said with a paper market leveraged to infinity, only when some activist like George Soros did to British pound could come in & buy physical & ask for delivery, even that was regulated due to the Hunt brother so it would take a group, & there again they may call it collusion & insider trading.
To fix this legal broken market will take either the miners to request delivery or the natural buyers, until then the game goes on, the house always wins.
Sorry didn't finish & you already replied.
12)The new will be leveraged against silver, it may be 1000 or a million old dollars, it really depends on where they catch it.
13) For that reason the USG are happy to sell you Silver & Gold eagles, they will eventually help with the money supply.
14) Most don't get melted, and will work their way into commerce, giving the USG a head start, when the final day comes.
15) International commerce will also go back to gold & silver, all countries currencies will be interchangeable without a Dollar intermediate.
16) Of course most money will be electronic, & paper officially backed by PMS, leveraged to the sky, much theft will exist in many levels &, again the oligarchs will decide how much leverage is allowed.
17) However there will be a few years of stability, before the status quo is breached again.
18) Being so the American silver eagle may be the boy of the century, the only question is how much cheaper could we buy it, until the reset actually happens.
19) How far could they kick the can down the road? Does the reset happen in our lifetime?
Greek Exit means,
1)The Greeks reject a forced fiat currency which they have no control of printing.
2) Other follow out of the Euro
3) the dollar strengthens
4) deflation follows lowering precious metals
5) Eventually all other countries reject a dollar printing press fiat which they have no control over printing
6) The Dollar finally collapses.
8) All countries return to some type of gold/silver backed currencies.
9) The reset happens the US values the original constitution that an ounce of silver is a dollar a new dollar.
10) Since the fall of the gold standard the international money supply has risen, by millions of multiples.
11) It will be impossible to shrink it back to the original amount, leverage will stay, fraud will be rampant on country & bank levelsevels
It could happen today, spot could climb 10% in a single session. Once it is steady above $20.00 we eye 30.00, I still predict April.
The forces who keep it under $20.00 are working full time naked shorting is no problem, because they roll it over, the only problem which could arise is, if 1% of contracts request delivery, & there is none to deliver. Even then, they will delay & play & of course short it more. If 10% request delivery I guess game over big time.
The small drop in early market suggests we eventually break out , go up & may well close green possibly very green.
Hope the rally continues, although I expected a bigger jump than this, in early hours.
Seems to be correct.
Now they take it down as much as they could as long as they could, but it probably ends green.
Seems to PM trend