I love this story so much!
If you thought the GameStop story was awesome, you ain’t seen nothing yet!
If you don’t know that story or don’t understand it, basically a bunch of average Americans banded together online organizing in a Reddit group called WallStreetBets to buy GameStop stock.
Why?
Because it was being heavily (and perhaps illegally) aggressively shorted by hedge funds in an attempt to bankrupt the company.
Then thousands of Americans jumped in, bought the stock together, and forced what’s know as a short squeeze….creating perhaps the biggest short squeeze I have ever seen in my life.
The result was hedge funds losing multiple billions of dollars!
More @ WLT
gamestop was great but they didn't understand the silver game and its going to make some of those billions back for the very same targets.
ReplyDeleteThanks.
DeleteYep! As I recall, it was revealed back around 2011 that the central bank had moved into position (cme?) to control & backstop those commodity markets. The Gamestop squeeze was on an entirely different playing field. I'm inclined to agree, its a trap potentially. But the wildcard is the physical bullion brokers. The paper market is being revealed as smoke&mirrors. The physical market seems to be out of product; isn't that called scarcity! We shall see.
DeleteThe physical market seems to be out of product; isn't that called scarcity!
DeleteI believe so......:)
I thought about trying to get in on this stuff but honestly I have never played the market and I know jack squat about it really. I would probably lose my ass. Or I'm just a day late and a dollar short as usual. Silver had me excited this weekend but I see several companies are doing minimums of 1k and maxes of 10k. A little rich for my blood honestly.
ReplyDeleteI used to day trade but couldn't make myself stick to the rules, so no more for me! :)
DeleteFind a reputable Local shop and buy some pre 1964 Quarters, Dimes, and Fifty cent pieces. A roll of quarters will run about $250.00, and a roll of dimes about $125.00 at current spot, and premiums. 90 percent or also known as Junk Silver is always good for barter. If the Gubmint ever recalls bullion again, you will still have official coins of the realm. You can also sell your coins for a decent profit if needed.
ReplyDeleteI bought dimes but they disappeared. :(
DeleteAs much as I hate to admit it when I was a kid; when video game parlors were popular I stole some quarters from my asshole stepdad out of his closet to go play games. Couple of bucks. Dude at the counter would exchange money for tokens. He told me "hey kid you have more of these"? He gave me a good deal. They turned out to be the ones with silver in them. 60 something is all I remember now. I took them all. About 40 bucks worth maybe. All he had. I thought he won't miss them they were in the bottom of the closet. He did eventually. Man was he pissed.
DeleteTurns out though he was a bit of a thief himself apparently. Later after they divorced (mom was married 6 times) he got popped with a van full of stolen merchandise in the mall parking lot after he tried to steal clothes by putting them on in the dressing room. Apparently he had 3 storage units full of stolen stuff.
I broke 1 million on pac man that week though. I was the king shit in that arcade for the rest of the summer though.
Memories. Thanks.
DeleteGo back a decade and buy bullion.....or wait. Eventually the silver market will impose and prices will drop. At that point you can buy physical silver at a reasonable price or........the economy is gone and we are living in a barter society. Now is NOT the best time to buy physical and unless your an insider, playing the paper silver market is a good way to go broke.
ReplyDeleteThanks.
DeleteI bought silver (1 oz coins) back in 2006 when it was $7 an oz, didn't have the money to buy gold although then it as only $260 or so. I bought it when I had extra money. I think the most I spent was $14 an oz. Historically silver has been about 1/15 the price of gold which would make it about $125 now. So it is greatly undervalued and it has industrial and electronic uses which should make it even more valuable, but it's not for some reason??? Like G.W. Long and Hedge says, our coinage, dimes, quarters and half dollars were 90% silver, so a good investment. I have about 6 lbs or do I inherited from my Uncle. In June of 1963, President JFK issued an E.O. for the Treasury Dept to print $5 Billion "United States Notes" backed by silver. They came out in $2 and $5 bills. More were to be issued, but November 22, 1963 happened and the order was rescinded by LBJ. I believe it was one of the reasons JFK was assassinated since that would have put the international banking cartel's Federal Reserve Note out of business in the U.S. --Ron W
ReplyDeleteI believe it was one of the reasons JFK was assassinated since that would have put the international banking cartel's Federal Reserve Note out of business in the U.S.
DeleteYes and I liked the 90% dimes as at around $2 back then it was a good trading amount whether gas, bread et cetera.