Silver...............its ON !

[Mega]

What is an "honest" price?
My thoughts $75-$150

[shiny!]

Is there honest price discovery in anything anymore? We're all playing Calvinball where the rules are made up as they go along.

[shiny!]

I think the ratio between gold and silver will continue to close for a while but silver will eventually get monkey hammered again. Will WSB successfully bring down Wall St in the meantime? I doubt it.

[FrankL]

This silver thing has nothing to do with WSB. They're still busy with GME, expecting a final big short squeeze.

[Mega]

Its fallen, it tough for them because its such a large market............but it was going to go up anyway...........$200 would be great, but $75 even would be fine.

Mike

[FrankL]

Its fallen, it tough for them because its such a large market............but it was going to go up anyway...........$200 would be great, but $75 even would be fine.

Mike

Who's 'them' ? I see news articles everywhere saying that Reddit/WSB people are going to short-squeeze Silver/SLV, but if you actually look on Reddit, there's no adoption of this idea whatsoever.

Sounds more like there are some hedge funds who are using the Reddit/WSB as a meme to push their own agenda (probably already was the case with the GME price run up last week; I just can't fathom some gang of redditors having enough money to make a real dent in the shares market, even for a relatively illiquid share like GME).

[shiny!]

GME is plummeting today, as is silver. The Reddit/WSB mania is amusing wish fullfillment.

Silver at $200? I want to see it at $1000! But as Jane Cobb said, "If wishes were horses, we'd all be eating steak."

[Mega]

Oh...........F**K
Its EJ's fault

[lakedaemonian]

GameSpot had a set of serendipitous conditions that allowed the remarkable run up.

Naked oversold shorts
Small-to-mid market cap
Thin float
Nostalgic, emotionally charged, and highly recognised brand as a rallying point

——-

The cohort has some shared characteristics:

Everyone involved in the GameStop caper will be familiar-to-fluent with online gaming, this example is relevant: https://en.wikipedia.org/wiki/Bloodbath_of_B-R5RB

Everyone involved in gaming pays $100+ a few times a year for the latest big game titles.

The biggest game titles generate $1B in a few days.

The biggest crowdfunding campaigns(gaming and cryptocurrency) generate $200M-$4B in weeks to months.

Everyone involved in this caper will be familiar-to-fluent with childhood nostalgia GameStop as well as Fight Club’s Project Mayhem and Batman’s Bain & Joker community driven anti-establishment disruption, rebellion, and subversion.

The overwhelming majority involved will have very low trust in Congress, large financial institutions, and news media. So if those groups portray the GameStop caper as “bad”, I think it’s likely to be counterproductive and expand support for it.

Pay some money, watch stuff(“fat cats”) burn in the real world.

The possibility of a decentralised group rapidly massing and precisely deploying $1B to exploit vulnerabilities is now a reality.

——-

Silver market seems like an odd choice as the next target for this cohort. Superficially it would appear to be biting off more than this network can chew.

Perhaps it’s something akin to hijacking of the Tea Party movement or disrupting it.

[Mega]

Its going to be a slow hard slog