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If the short squeeze on GameStop caused fireworks among a few hedge funds on Wall Street, we hate to think what a short squeeze on the global silver supply will look like as hedge funds wake up to the possibility that SLV "cannot acquire sufficient silver acceptable for delivery to the Trust".

https://www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-available-silver

If the short squeeze on GameStop caused fireworks among a few hedge funds on Wall Street, we hate to think what a short squeeze on the global silver supply will look like as hedge funds wake up to the possibility that SLV "cannot acquire sufficient silver acceptable for delivery to the Trust". https://www.zerohedge.com/markets/silversqueeze-hits-london-slv-warns-limited-available-silver

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[–] [deleted] • 0 pt

They are sitting on an empty vault with an IOU for 133 million ounces of silver in it.

[–] • 2 pts

It doesn't matter to me if they're holding paper or physical. It mattered more that it looked to me like they manipulated the precious metals market again. They just got a slap on the wrist for this in September 2020. Slap on the wrist, that's why I'm under the impression they did it again. I'm also under the impression that they didn't operate alone. In the end I don't think this will matter to the government. The person's responsible for this will never see prison time, whereas you and I would.

[–] [deleted] • 1 pt (edited )

I agree no one will ever be punished but the point is it doesn't matter what the manipulated price is because when your dealing with exchanging it or buying it physically you have to do so at the street price.

[–] • 0 pt

The current spot is why I stopped stacking. It's a seller's market now. But that's just me. If you purchase X amount every month, then costs will average out. Spot will come back down, how far remains to be seen. $24+ may be the new market standard.