On the heels of a truly extraordinary social-media-fueled buying frenzy involving shares of GameStop and AMC Theaters, some attention is turning to physical silver.
Could a short squeeze in silver be coming too?
It’s fairly common knowledge that bullion banks have been perpetually short in the silver futures market, using their concentrated financial power at times to keep a lid on silver prices.
Over the longer term, the ongoing volatility combined with depressed silver prices have undermined silver miners’ profits and production – and above-ground supply has dwindled, even as demand has risen.
It looks like some of the same small-time investors that just punished the short-selling hedge funds who had beaten up GameStop’s stock have turned their attention to the small silver market.
Social media platforms are aflutter about breaking the bullion banks by buying physical silver.
To be sure, every ounce of physical silver accumulated by rank-and-file Americans helps reclaim a small bit of control from the bullion banks and other centralized financial powers.
More directly, buying Vault Silver ounces from Money Metals results in the removal of 1,000 oz silver bars from the exchanges.
We don’t know how this grassroots anger directed at short sellers will play out, but we do feel that silver is – and has been – dramatically undervalued.
And big moves seem likely… sooner or later.
From the resumption of its role as a financial asset to its new uses in technology, energy, and medicine – silver is a truly remarkable metal.
At Money Metals, we are proud to serve as the top source for buying (or selling) the “poor man’s gold” and other precious metals – so please don’t hesitate to reach out to us with any questions or needs…Original Source…
Stefan Gleason is President of Money Metals Exchange, a precious metals dealer recently named “Best in the USA” by an independent global ratings group. A graduate of the University of Florida, Gleason is a seasoned business leader, investor, political strategist, and grassroots activist. Gleason has frequently appeared on national television networks such as CNN, FoxNews, and CNBC and in hundreds of publications such as the Wall Street Journal, The Street, and Seeking Alpha.