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Physical Silver

By ThatGuy follow ThatGuy   2021 Mar 2, 8:14pm 248 views   6 comments   watch   nsfw   quote   share      

I've been watching silver for a long time, the price seems exceptionally low.

Looks like a movement is building around physical (not paper) silver, (PSLV, NOT SLV) I'm loving it!

Check out:
https://www.reddit.com/r/Wallstreetsilver/ They've got a 20k advertising budget now

Technical Analysis seems to hold water, here is a good post I found.

Looks like there are several major banks could go down as they are very over-leveraged on silver...

I'm no whale but I've sold my non 401k stocks and purchased PSLV, and am buying a few ounces every paycheck.
1   Shaman   2021 Mar 2, 8:19pm  

What’s your supplier of PSLv? And in what form is it delivered?
2   ThatGuy   2021 Mar 2, 8:24pm  

PSLV is a stock ticker. You can redeem your shares for guaranteed backed physical silver. Here is their fact sheet https://sprott.com/media/1057/pslv.pdf

I've been buying the actual physical silver from golden state mint. Every supplier is really delayed and over spot price now. https://www.goldenstatemint.com/
3   Misc   2021 Mar 2, 9:13pm  

If the major bullion banks are willing to be short thousands and thousands of tons of silver, you can bet they are willing to be short as much PSLV as people are willing to buy. Supposedly there's only about $1 billion invested in it, but nobody says how many shares are shorted. I will bet billions more.

It is based out of Canada, so if push comes to shove you're counting on the Canadian government. How's that extradition of the Huewei CFO going? That's been ongoing for over 2 years with nothing accomplished. So sure I believe they will be harsh on one of their own companies.

Yes, the preppers have just about bought out all the physical silver that exists. What do you think will happen? I think that the government(s) will step in and outlaw ordinary citizens from owning physical precious metal bullion (like they did with gold during the Great Depression). Do you really think they will allow the banking system to collapse to appease "Financial Terrorists"?
4   ThatGuy   2021 Mar 2, 9:54pm  

I lost my ass on MCOA, I put in about 3k, finally cashed that out and bought BNGO with my remaining $300, which grew back to 3k. I didn't see a lot of room to run there, so I cashed out and bought PSLV.

I'd much rather own physical silver, because of such fuckery mentioned above. But it seems legit at this point. As far as I can tell they don't deal in derivatives or options at all. SLV is owned by JP Morgan and they are selling paper multiplicities of that silver, at roughly 120x paper oz vs real actual oz
5   Misc   2021 Mar 2, 10:58pm  

Millions of people have been duped on Canadian metal plays over the last decades. The legal system is not designed for regular people. Cases get tied up for decades. Right now there are settlements coming out for sketchy mortgage bonds issued back in 2006-2007 era. Take any statements from companies with a grain of salt.

The Federal government is not going to let the financial system go under because the banks are short thousands and thousands of tons of silver. The system is rigged against the common person. Even though you are right, the laws and market can be manipulated and/or changed.
6   NuttBoxer   2021 Mar 3, 10:45am  

Leveraging in the bullion markets(paper to physical), has been at ludicrous levels for decades. Would only take 1% asking for delivery to break the system, but you can bet just like with Gamestonk, government and banks will work together to ensure that never happens.

Right now the ratio for gold/silver is high, so silver is undervalued, and has been for over a year. Physical squeeze started again a few weeks ago, delivery times are stretched if you won't take whatever is on hand(probably gold). Spot price is not reliable right now, as you won't find many reputable sellers who sell you anything close to spot.

There has been a shortage in all commodities building since last year. Raw materials are stretched(in most industries), mining operations have taken a huge dip in production. All this to say there's little out there, those that know aren't selling, and those looking to buy will only increase.

It's not too late to get your inflation hedge, but time is fast running out.

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