Curious timing; after the big rally in the silver market yesterday, JP Morgan decided today they would downgrade silver stocks, but this is even more stunning.
STUNNING: Why The Silver Price Is Going Much Higher
February 2 (King World News) – Willem Middelkoop: The Core of the Silver Squeeze Production deficits as far as the eye can see (see chart below).
Annual Global Silver Deficit (RED) Is Ballooning
How Has This Massive Silver Deficit Gap Been Filled?
The gap was filled by selling above the ground silver stocks (mainly a few billion of the old silver coins).
That stack is now almost depleted.
So we now need to find some new silver. The only problem, we haven’t found enough. And what we did find we can’t get into production: The Navidad silver discovery in Argentina: blocked for political reasons. Pascua Lama discovery owned by Barrick: development stopped after spending $6 billion for different/environmental reasons, etc, etc…
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Egon von Greyerz out of Switzerland: “It’s shameful, though the IMF and others will never admit their own responsibility, pointing instead to COVID like a guilty child with his hand already in a cookie jar of debt. Whenever debt is used to enjoy a short-term “buzz,” the result is simply a long-term disaster.”
How To Bring Down The Silver Price? Just Downgrade Miners
John Tuld: “J.P. Morgan downgrading silver miners is like Citadel downgrading GameStop. Not Credible.”
Sprott Physical Silver Stash Expanding
Sprott: PSLV Sprott Physical Silver Trust added 6,400,000 ounces of physical silver today 99,608,676 ounces of physical silver now held by PSLV.
Approaching Support On Silver
Top Citi analyst Tom Fitzpatrick: Silver: after trading briefly above the $30 handle yesterday, it gave away all of yesterday’s gains as the metal nosedived back below a horizontal support level at $27.93 overnight. If the metal continues to trade below this level, we should see it moving back towards an interim horizontal support at $26.01.
SCAM ALERT? Where Did All The Silver Come From?
BullionStar out of Singapore: iShares Silver Trust (SLV) claims its silver holdings rose by 580 tonnes today to 19,302 tonnes. Which would be 58% of all the silver which the LBMA claims is in the London vaults. Where is JP Morgan sourcing this silver?
Also released! Reddit WallStreetBets Group Unleashing Silver Price, But This Will Trigger Real Panic Into Gold & Silver CLICK HERE TO READ.
BULLISH ON SILVER: To listen to Rob Arnott, the man who helps oversee $160 billion, discuss why the silver market could be the next to skyrocket and much more CLICK HERE OR ON THE IMAGE BELOW.
To listen to Alasdair Macleod discuss the fact that there is virtually no liquidity in the London silver market which may lead to a massive short squeeze in silver as well as the Reddit and Robinhood army of traders entering the silver market CLICK HERE OR ON THE IMAGE BELOW.
Also released! SILVER: WHAT A DAY! Look At Who Just Predicted We Will See $2,500-$4,000 GOLD And $57-$131 Silver CLICK HERE TO READ.
Also released! SILVER PRICE SOARING ON SQUEEZE: $50 Price Target Just Issued But Look At This Surprise CLICK HERE TO READ.
Also released! Greyerz – Macleod Is Right, There Is NO LIQUIDITY IN LONDON And Bullion Banks Are Short 100 Million Ounces Of Silver CLICK HERE TO READ.
Also released! Robinhood Silver Traders May Break The Comex And Serious Hurt Bullion Banks CLICK HERE TO READ.
Also released! Central Banks Created Niagara Falls Of Printed Money And Debt, Gushing Chaotically All Over The World CLICK HERE TO READ.
Also released! NO SILVER LIQUIDITY IN LONDON: This “Could Destabilize All Gold & Silver Contracts” As Reddit Silver Short Squeeze Continues CLICK HERE TO READ.
Also released! REDDIT TRADERS TARGET SILVER: Man Who Oversees Nearly $160 Billion Says Silver May Be Poised To Skyrocket CLICK HERE TO READ.
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