$1000 Silver: Can You Believe It?
"Look what we did to Citadel. But that is merely the start. Our strength is our numbers...""We are not driven by greed alone. We are driven equally by hatred – perhaps even more so by hatred...""That is, we are driven by hatred for Wall Street and its rigged contests...""Wall Street has the referee and the judges in its pay. It even has the commissioner. It has sugared them all with monetary inducements...""Thus the combat is not one against one...but one against many. The little guy stands the snowball's chance...""We are out for them all – boxer, referee, judges, commissioner...""Wall Street nearly bankrupted my family in 2008. It gambled with our money – our money – and rolled snake eyes...""We almost lost our house."
"Meantime, the stock market runs at record heights these days. But I am jobless. So are many of my comrades."Well, I decided I'd put that stimulus check to the best possible use – giving Wall Street a dose of its own bitter medicine – and enriching myself in the process."I put money into GameStop. I made a lot of money, and the hedge funds lost billions. It was pure velvet."I would have made even more if Robinhood hadn't halted sales under orders from Wall Street. That let the hedge funds avoid even greater losses, the bastards. You see, the contest is rigged, I tell you."But I am out for blood. I am not alone. There are six million of us. And our ranks are growing. We will swamp them."Now we are taking on the heavyweight division, the major banks..."
"[The] Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC. We know bullion banks are manipulating gold and silver to cover real inflation."
"Inflation adjusted Silver should be at $1000 instead of $25. Why not squeeze $SLV [silver ETF] to real physical price...Think about the Gainz. If you don't care about the gains, think about the banks like JP MORGAN you'd be destroying along the way."
"It's very different from a small-cap stock. [Retail investors'] ability to really impact market pricing will be much more limited than it was with GameStop."
"The US government became concerned over what it saw as a clear attempt at manipulating the nation's silver reserves...Federal commodities regulators introduced special rules to prevent any more long position contracts from being written or sold for silver futures."This stopped the Hunts from increasing their positions by temporarily suspending the fundamental rules of the commodities market. With longs frozen and shorts free to pile in, the price of silver began to slide. Margin calls on the loans began to take a toll on the Hunts' reserves to the point where they were paying millions a day in calls, storage fees and interest."The Federal Reserve then took an unusual step: it strongly encouraged banks to stop making loans for speculative activity. When it became clear that the government was after the Hunts' scalps, their credit dried up. Concerns that the Hunts might not be able to meet margins with new loans and would go under (pulling several brokerages and banks with them), put further downward pressure on the price of silver. On March 27, 1980, the Hunt brothers finally missed a margin call and the market plunged; silver led the way, dropping to under $11 from its high of $48.70."