I have been tracking silver prices quite closely for the last couple of months. The dynamics are extremely interesting, to say the least.
The benchmark silver price is the one that is set by COMEX, the online exchange at Chicago, which runs 24/7 from Sunday evening Eastern Time to Friday evening Eastern Time. The amount of paper contracts that are traded on the Comex are a thousand times ( or some such huge number, every expert has a different huge number) the actual quantity of silver on the planet.
The actual quantity of silver on the planet is miniscule. The value of all above ground silver stocks in the world at today's prices is less than the market cap of NVidea or Microsoft.
The paper prices on the Comex have been suppressed for the last fifty years by the deep state and MIC ( Military Industrial Complex) for nefarious reasons of their own. Gold is a similar story though to a lesser extent.
In order to keep the price suppressed, big banks have been shorting silver and they are sitting on huge short positions totalling to billions and billions and billions of dollars.
Silver has been a monetary metal and store of value, along with gold, for 5000 years. Silver is referred to as the poor man's gold, silver for the commoners, and gold for the kings.
The western centric financial system and educational complex has managed to wipe out the collective memory of their peoples when it comes to silver and gold. They think that piece of worthless paper which is fiat currency and all that is based on fiat like bonds, debt, equity, etc are the real thing. All educated people in India think so too. The poor know better. Gold and silver are the true stores of value, the rest is maya, illusion.
When anything is kept suppressed for so long the pressure builds. When finally the steam escapes from the pressure cooker, it bursts and hits the ceiling. The exact same thing is happening to silver right now.
A group of people have got together to break the chokehold of the big banks on silver. All they have to do to break the market is to demand delivery on the Comex when contracts mature. That's it, it's like a bank run. The amount of paper promises being an order of magnitude higher than actual silver, one of two things will happen. Either the price will go up up and up ( the appreciation in silver in the last one year is 200 percent, and in gold is close to 100 percent), or the market will break and Comex will declare default, or both. The prices have already started moving. The default scenario is very real and may happen. If that happens, it will be one big nail in the coffins of the western financial system, the US dollar, and western hegemony.
One nail, so many coffins! Which is why the "group of people" we referred to who are doing this include India, China and Russia. Yes, as in the nations themselves!
What is happening to silver, and to a lesser extent to gold right now is not a routine price move. It is a re-pricing, the kind of event that happens only once in any person's lifetime.
Expect the prices to go up much much higher from here.
If you already own silver, rejoice.
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