Comment: UPDATE 1 Feb 2021
ZeroHedge isn't paying close attention. Retail traders at r/WallStreetBets are NOT recommending that everyone 'go short JPMorgan through silver'. Tim Pool reports on how this silver drive is MSM fake news to draw heat away from the hammering Melvin Capital and Citadel are taking from their exposure to high GameStop and AMC stock prices:
Update (1100ET): For some background on just how unprecedented this weekend's action in silver markets is, Tyler Wall, the CEO of SD Bullion writes the following (emphasis ours):
In the 24 hours proceeding Friday market close, SD Bullion sold nearly 10x the number of silver ounces that we normally would sell in an entire weekend leading to Sunday market open.And, perhaps most importantly, as QTR tweets so succinctly, "this is a red pill moment for many, and it's beautiful."
In a normal market, we normally can find at least one supplier/source willing to sell some ounces over the weekend if we exceed our long position (the number of ounces we predict we will sell over the weekend). However, everyone we talk to is afraid of a gap up at Sunday night market open.
This is about ready to get really interesting as there was very little inventory left from suppliers/mints going into Friday close.
Our direct AP supplier informed us after close on Friday that the "US Mint will be on allocation for the remainder of Type 1" (Current Silver Eagle Design). Our sales for the month of January exceeded any one month last year during the heart of the pandemic. It was an all-time record month in our company history.















Comment: See also:
Now Reddit investors are talking about targeting silver, and that could change everything