In all of the years that I have written about precious metals, I have never seen anything like this. The corporate media is breathlessly reporting that “the Reddit Army” plans to do to silver what it did to GameStop, and this has caused a frenzy of buying and a severe shortage of physical silver at dealers all across the United States. If things are this crazy already, what is going to happen when the short squeeze actually begins? For now, “the Reddit Army” is still primarily focused on GameStop and other stocks that major hedge funds have been relentlessly short selling, and in recent days members of that army have actually been purchasing billboard ads to celebrate their success…
UPDATE: Reddit Users Going After Silver for ‘Biggest Short Squeeze in the World’
Earlier Update: Top bullion dealers are encountering shortages.
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A number of Reddit users on the popular r/WallStreetBets forum have said they are planning to launch a coordinated effort to target silver as their next short-squeeze target.
Posts encouraged individuals to use the IShares Silver Trust, the largest silver exchange-traded fund, and carry out what one user called the “BIGGEST SHORT SQUEEZE IN THE WORLD.”
“Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC,” a user on Reddit’s WallStreetBets wrote. “We know billion banks are manipulating gold and silver to cover real inflation. Both the industrial case and monetary case, debt printing has never been more favorable for the No. 1 inflation hedge Silver.”
Reddit Preparing To Unleash World s Biggest Short Squeeze In Silver zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.
How WSB Now Wants to Take Down the Entire Fiat Monetary System
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